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Annual Report
December 31, 1999
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| Lexington Global and
Domestic No-Load Mutual Funds
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| [GRAPHIC] |
LEXINGTON MONEY |
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MARKET TRUST |
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Investment Objective: Current Income |
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| Lexington Funds
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| Providing Global
SolutionSM
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[LOGO]
LEXINGTONSM
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Dear Shareholders:
Money fund
yields trended higher during 1999 and we believe further increases are in
store. The Federal Reserve began tightening monetary policy on June 29th
when it raised the Federal Funds rate from 4.75% to 5.0%. There have been
two additional one-quarter of percentage point hikes since then and the
overnight cost of money now stands at 5.5%. Accordingly, money market yields
rose steadily during the second half of 1999. For the full year, the
Lexington Money Market Trust returned 4.34%*. This compares with 4.49% for
the typical money market fund monitored by Lipper, Inc.
We look for two
additional 25 basis point rate hikes by May. This would bring the targeted
short-term interest rate to 6%. Strong current economic growth, a tight
labor market, and rising energy costs will encourage the Federal Reserve to
move quickly to ward off incipient inflation risks. The recent
re-appointment of Federal Reserve Chairman Greenspan to another four year
term gives the central bank a freer hand to tighten monetary policy despite
election year politics.
The economic
models used by the Federal Reserve flag increased inflation risk when real
GDP growth exceeds 3%. The economy likely expanded at better than a 5%
annual rate during the second half of 1999. With consumer confidence at a
record high, there is little reason to anticipate a decline in growth much
below 4% during the first half of this year.
We lengthened
the average maturity of the Lexington Money Market Trust during the second
half of 1999 to take advantage of the high yields offered in anticipation of
Y2K and possible liquidity problems. The portfolio’s maturity was 12
days on June 30th but by early November it had reached 56 days. This was cut
back to 46 days by year-end and now stands at 31 days. This is well below
the average for all money funds and will allow us to more quickly reinvest
our portfolio once the Federal Reserve raises interest rates. Quicker
portfolio turnover in a rising interest rate environment will improve our
relative return.
The investment
environment that we anticipate should result in returns from the Lexington
Money Market Trust of about 5% annualized during the first six months of
2000. Prospects for the second half of the year are much cloudier. If the
economy fails to slow, higher short-term interest rates are probable and
short-term interest rates above 6% are currently not reflected in bond
prices or stock valuations. So, financial market setbacks could occur. We
would view any significant bond and stock market decline as a signal to
extend the money fund’s average maturity because the Federal Reserve
has a history of adding significant liquidity and lowering money rates when
the financial markets begin to tremble.
We appreciate
the support of our shareholders and would be happy to respond to any
questions or comments you may have. Please feel free to call us at
1-800-526-0056 or visit our website at www.lexingtonfunds.com.
Sincerely,
|
/s/
DENIS P. JAMISON
Denis P. Jamison
Portfolio Manager
February, 2000
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/s/
ROSEANN G. MCCARTHY
Roseann G. McCarthy
Portfolio Manager
February, 2000
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/s/
ROBERT M. DEMICHELE
Robert M. DeMichele
President
February, 2000
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*The
average yield for the seven-day period ended December 31, 1999 was 4.96%. An
investment in the Trust is not insured or guaranteed by the Federal Deposit
Insurance Corporation or any other government agency. Although the Trust
seeks to preserve the value of your investment at $1.00 per share, it is
possible to lose money by investing in the Trust.
Lexington Money Market Trust
Statement of Net Assets
(Including the Portfolio of Investments)
December 31, 1999
Principal
Amount |
|
Security |
|
Maturity
Date |
|
Yield to
Maturity
on Date of
Purchase |
|
Value
(Note 1) |
|
| |
|
COMMERCIAL PAPER:
89.8% |
|
|
|
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| $2,500,000 |
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Alfa Corporation |
|
01/24/00 |
|
6.22 |
% |
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$2,490,369 |
| 2,000,000 |
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Allegheny Energy, Inc. |
|
03/17/00 |
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6.15 |
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1,975,089 |
| 1,496,000 |
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Allmerica Financial
Corporation |
|
01/25/00 |
|
6.14 |
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1,490,016 |
| 2,000,000 |
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Allmerica Financial
Corporation |
|
02/03/00 |
|
6.13 |
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1,989,037 |
| 1,200,000 |
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American Express Credit
Corporation |
|
02/18/00 |
|
6.13 |
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1,190,528 |
| 1,250,000 |
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American General Finance
Company |
|
01/18/00 |
|
6.06 |
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1,246,535 |
| 1,650,000 |
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American General Finance
Company |
|
02/25/00 |
|
6.00 |
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1,635,430 |
| 2,000,000 |
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American Honda Motor
Corporation |
|
02/18/00 |
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6.13 |
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1,984,187 |
| 3,000,000 |
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AON Corporation |
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02/28/00 |
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6.20 |
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2,971,145 |
| 1,100,000 |
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Associates First Capital
Corporation |
|
02/22/00 |
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5.97 |
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1,090,864 |
| 2,000,000 |
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Bemis Company, Inc. |
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01/25/00 |
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5.95 |
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1,992,360 |
| 2,000,000 |
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Corporate One Credit
Union |
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01/12/00 |
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6.21 |
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1,996,303 |
| 2,000,000 |
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DaimlerChrysler N.A.
Holdings |
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01/19/00 |
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6.16 |
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1,994,030 |
| 1,900,000 |
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DaimlerChrysler N.A.
Holdings |
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02/14/00 |
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6.11 |
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1,886,160 |
| 3,650,000 |
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Eastern Corporate Federal Credit
Union |
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01/11/00 |
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6.22 |
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3,643,866 |
| 1,000,000 |
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Eastman Kodak Company |
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01/27/00 |
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5.97 |
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995,847 |
| 2,500,000 |
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First Data Corporation |
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01/25/00 |
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6.00 |
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2,490,333 |
| 1,500,000 |
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First Data Corporation |
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01/25/00 |
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6.19 |
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1,494,000 |
| 950,000 |
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GTE Funding, Inc. |
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02/22/00 |
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6.19 |
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941,794 |
| 400,000 |
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General Electric Capital
Corporation |
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01/18/00 |
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6.16 |
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398,872 |
| 205,000 |
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General Electric Capital
Corporation |
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01/20/00 |
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5.59 |
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204,405 |
| 500,000 |
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General Electric Capital
Corporation |
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01/26/00 |
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5.74 |
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498,087 |
| 1,900,000 |
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General Electric Capital
Corporation |
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01/28/00 |
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6.16 |
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1,891,493 |
| 660,000 |
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General Electric Capital
Corporation |
|
02/04/00 |
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6.11 |
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656,279 |
| 2,400,000 |
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General Motors Acceptance
Corporation |
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01/21/00 |
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5.64 |
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2,392,787 |
| 600,000 |
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General Motors Acceptance
Corporation |
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01/24/00 |
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5.64 |
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597,926 |
| 250,000 |
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General Motors Acceptance
Corporation |
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02/07/00 |
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5.94 |
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248,538 |
| 1,000,000 |
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Goldman Sachs Group,
LLP |
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01/28/00 |
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5.92 |
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995,740 |
| 2,800,000 |
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Goldman Sachs Group,
LLP |
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02/08/00 |
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6.13 |
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2,782,326 |
| 1,150,000 |
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Grainger (W.W.), Inc. |
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01/04/00 |
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6.36 |
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1,149,400 |
| 1,100,000 |
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Hartford Steam Boiler Inspection
and Insurance Company |
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02/09/00 |
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6.10 |
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1,092,933 |
| 2,325,000 |
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Hartford Steam Boiler Inspection
and Insurance Company |
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02/16/00 |
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6.10 |
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2,307,383 |
| 1,950,000 |
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Lubrizol Corporation |
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02/15/00 |
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6.24 |
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1,935,130 |
| 1,050,000 |
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Merrill Lynch and Company,
Inc. |
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01/31/00 |
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6.09 |
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1,044,794 |
| 1,000,000 |
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Merrill Lynch and Company,
Inc. |
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02/10/00 |
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6.00 |
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993,333 |
| 1,500,000 |
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Merrill Lynch and Company,
Inc. |
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02/11/00 |
|
6.09 |
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1,489,853 |
| 2,000,000 |
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Mid-States Corporate Federal
Credit Union |
|
01/27/00 |
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6.24 |
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1,991,189 |
| 3,000,000 |
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New Jersey Natural Gas
Company |
|
01/18/00 |
|
6.06 |
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2,991,599 |
| 3,000,000 |
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Procter and Gamble
Company |
|
02/29/00 |
|
6.02 |
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|
2,971,238 |
2
Lexington Money Market Trust
Statement of Net Assets
(Including the Portfolio of Investments)
December 31, 1999 (continued)
Principal
Amount |
|
Security |
|
Maturity
Date |
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Yield to
Maturity
on Date of
Purchase |
|
Value
(Note 1) |
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COMMERCIAL PAPER
(continued): |
|
|
|
|
|
|
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| $2,400,000 |
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Prudential Funding
Corporation |
|
01/10/00 |
|
5.74 |
% |
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$2,396,688 |
| 700,000 |
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Prudential Funding
Corporation |
|
02/02/00 |
|
6.03 |
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696,372 |
| 3,000,000 |
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SCI Systems, Inc. |
|
03/22/00 |
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6.07 |
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2,960,175 |
| 2,000,000 |
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Sonoco Products Company |
|
03/10/00 |
|
5.99 |
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1,978,035 |
| 3,000,000 |
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Torchmark Corporation |
|
02/18/00 |
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6.39 |
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2,975,000 |
| 3,500,000 |
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USSA Capital
Corporation |
|
02/20/00 |
|
5.96 |
|
|
3,489,378 |
| 4,000,000 |
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Union Electric Company |
|
01/20/00 |
|
5.54 |
|
|
3,988,494 |
| 1,800,000 |
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Washington Gas Light
Company |
|
01/13/00 |
|
6.16 |
|
|
1,796,400 |
| 3,500,000 |
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Wisconsin Gas Company |
|
01/14/00 |
|
6.18 |
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3,492,417 |
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|
|
|
|
|
|
|
|
|
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TOTAL COMMERCIAL PAPER
(cost $87,904,157) |
|
|
|
|
|
|
87,904,157 |
| |
|
|
|
|
|
|
|
|
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|
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OTHER U.S. GOVERNMENT
OBLIGATION: 3.8% |
|
|
|
|
|
|
|
| 3,830,000 |
|
Federal Home Loan Bank (cost
$3,757,267) |
|
05/01/00 |
|
5.84 |
|
|
3,757,267 |
| |
|
|
|
|
|
|
|
|
|
|
| |
|
U.S. GOVERNMENT OBLIGATIONS:
6.0% |
|
|
|
|
|
|
|
| 1,000,000 |
|
U.S. Treasury Bills |
|
06/22/00 |
|
5.61 |
|
|
974,098 |
| 5,000,000 |
|
U.S. Treasury Bills |
|
06/22/00 |
|
5.73 |
|
|
4,868,088 |
| |
|
|
|
|
|
|
|
|
|
| |
|
TOTAL U.S. GOVERNMENT
OBLIGATIONS
(cost $5,842,186) |
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|
|
|
|
|
5,842,186 |
| |
|
|
|
|
|
|
|
|
|
| |
|
TOTAL INVESTMENTS: 99.6%
(cost $97,503,610†) (Note 1) |
|
|
|
|
|
|
97,503,610 |
| |
|
Other assets in excess of
liabilities: 0.4% |
|
|
|
|
|
|
346,053 |
| |
|
|
|
|
|
|
|
|
|
| |
|
TOTAL NET ASSETS:
100.0% |
|
|
|
|
|
|
|
| |
|
(equivalent to $1.00 per share on
97,849,663 shares
outstanding) |
|
|
|
|
|
|
$97,849,663 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
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† Aggregate cost for Federal
income tax purposes is identical. |
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The Notes to Financial Statements are an integral part of
this statement.
3
Lexington Money Market Trust
Statement of Assets and Liabilities
December 31, 1999
| Assets |
| |
Investments, at value (cost
$97,503,610)
(Note 1) |
|
$97,503,610 |
| |
| Cash (Note 4) |
|
256,981 |
| |
| Receivable for shares
sold |
|
364,802 |
| |
| Other receivables |
|
64 |
| |
|
|
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Total
Assets |
|
98,125,457 |
| |
|
|
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| Liabilities |
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Due to Lexington Management
Corporation
(Note 2) |
|
53,732 |
| |
| Payable for shares
redeemed |
|
146,118 |
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| Accrued expenses |
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75,944 |
| |
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Total
Liabilities |
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275,794 |
| |
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Net Assets
(equivalent to $1.00 per share on
97,849,663 shares outstanding) (Note 3) |
|
$97,849,663 |
| |
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| Net Assets consist
of: |
| |
Shares of beneficial interest
— $.10 par value
per share |
|
$ 9,784,966 |
| |
| Additional
paid-in-capital |
|
88,064,697 |
| |
|
|
|
Total Net Assets |
|
$97,849,663 |
| |
|
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Lexington Money Market Trust
Statement of Operations
Year
ended December 31, 1999
| Investment
Income |
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| Interest
income |
|
|
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$4,447,238 |
| |
| Expenses |
|
|
|
|
|
| |
|
Investment advisory fee (Note 2) |
|
$422,726 |
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| Custodian
expenses |
|
13,950 |
|
|
|
| |
Transfer
agent and shareholder
servicing expenses (Note
2) |
|
179,114 |
|
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| |
| Printing
and mailing expenses |
|
53,213 |
|
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| |
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Professional fees |
|
26,674 |
|
|
|
| |
| Directors
’ fees and expenses |
|
13,308 |
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|
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| |
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Accounting expenses (Note 2) |
|
66,849 |
|
|
|
| |
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Registration fees |
|
19,547 |
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| Computer
processing fees |
|
16,527 |
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|
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| |
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| Other
expenses |
|
43,009 |
|
|
|
| |
|
|
|
|
|
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Total expenses |
|
854,917 |
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|
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Less: expenses recovered under
contract with investment
adviser (Note 2) |
|
(9,546 |
) |
|
845,371 |
| |
|
|
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Net investment income |
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|
|
|
3,601,867 |
| |
|
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Increase in Net Assets
Resulting
from Operations |
|
|
|
|
$3,601,867 |
| |
|
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|
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The Notes to Financial Statements are an integral part of
these statements.
4
Lexington Money Market Trust
Statements of Changes in Net Assets
Years ended December 31, 1999 and 1998
| |
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1999
|
|
1998
|
| Operations: |
|
|
|
|
|
|
| Net investment income |
|
$ 3,601,867 |
|
|
$ 4,156,414 |
|
| |
|
|
|
|
|
|
|
| Distributions to Shareholders:
(Note 1) |
|
|
|
|
|
|
| Distributions to shareholders
from net investment income |
|
(3,601,867 |
) |
|
(4,156,414 |
) |
| |
|
|
|
|
|
|
|
| Capital Share Transactions:
(Note 3) |
|
|
|
|
|
|
| Proceeds from sale of
shares |
|
100,237,881 |
|
|
88,962,867 |
|
| Reinvested dividends |
|
3,418,339 |
|
|
3,802,714 |
|
| Cost of shares
redeemed |
|
(93,294,926 |
) |
|
(100,426,397 |
) |
| |
|
|
|
|
|
|
Net
increase (decrease) in net assets from capital share
transactions |
|
10,361,294 |
|
|
(7,660,816 |
) |
| |
|
|
|
|
|
|
| Net increase (decrease) in net
assets |
|
10,361,294 |
|
|
(7,660,816 |
) |
|
| Net Assets: |
|
|
|
|
|
|
| Beginning of period |
|
87,488,369 |
|
|
95,149,185 |
|
| |
|
|
|
|
|
|
| End of period |
|
$97,849,663 |
|
|
$87,488,369 |
|
| |
|
|
|
|
|
|
The Notes to Financial Statements are an integral part of
these statements.
5
Lexington Money Market Trust
Notes to Financial Statements
December 31, 1999 and 1998
1. Significant Accounting Policies
Lexington Money Market Trust (the “Trust”) is an
open-end diversified management investment company registered under the
Investment Company Act of 1940, as amended. The Trust’s investment
objective is to seek a high level of current income from short-term
investments as is consistent with the preservation of capital and
liquidity. The following is a summary of significant accounting policies
followed by the Trust in the preparation of its financial
statements:
Investments
Securities transactions are accounted for on a trade date
basis. Investments are valued at amortized cost, which approximates market
value. Under this valuation method, a portfolio instrument is valued at
cost and any discount or premium is amortized on a constant basis to the
maturity of the instrument. Interest income is accrued as
earned.
Federal Income Taxes
It is the Trust’s intention to comply with the
requirements of the Internal Revenue Code applicable to “regulated
investment companies” and to distribute all of its taxable income to
its shareholders. Therefore, no provision for Federal income taxes is
required.
Dividends
Dividends are declared daily from the total of net
investment income and net realized gain (loss) on investments.
Use of Estimates
The preparation of financial statements in
conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and the reported
amounts of increases and decreases in net assets from operations during the
reporting period. Actual results could differ from those
estimates.
2.
Investment Advisory Fee and Other Transactions with
Affiliate
The
Trust pays an investment advisory fee to Lexington Management Corporation (
“LMC”) at an annual rate of 0.50% of the Trust’s average
daily net assets up to $500 million and 0.45% of its average daily net
assets in excess of $500 million. LMC is required to reimburse the Trust
for any expenses, including the investment adviser’s fee but excluding
interest and taxes, in excess of 1.0% of the Trust’s average daily net
assets. Reimbursement for the year ended December 31, 1999 amounted to
$9,546 and is set forth in the statement of operations.
The
Trust also reimburses LMC for certain expenses, including accounting and
shareholder servicing costs of $142,976 which are incurred by the Trust,
but paid by LMC.
3.
Shares of Beneficial Interest
Transactions (at $1.00 per share) in shares were as
follows:
| |
|
Year ended |
| |
|
December 31, 1999
|
|
December 31, 1998
|
| Shares sold |
|
100,237,881 |
|
|
88,962,867 |
|
| Shares issued to shareholders on
reinvestment of dividends |
|
3,418,339 |
|
|
3,802,714 |
|
| |
|
|
|
|
|
|
| |
|
103,656,220 |
|
|
92,765,581 |
|
| Shares redeemed |
|
(93,294,926 |
) |
|
(100,426,397 |
) |
| |
|
|
|
|
|
|
| Net increase
(decrease) |
|
10,361,294 |
|
|
(7,660,816 |
) |
| |
|
|
|
|
|
|
Lexington Money Market Trust
Notes to Financial Statements
December 31, 1999 and 1998 (continued)
4. Cash
In
order to facilitate the clearing process for redemptions by check, the
Trust maintains a compensating balance with its transfer agent. At December
31, 1999, this compensating balance amounted to $69,500 and is included in
cash in the statement of assets and liabilities.
5.
Tax Information (unaudited)
For
the year ended December 31, 1999, the percentage of ordinary income
dividends paid by the Trust derived from agency and direct obligations of
the United States government were as follows:
| U.S. Treasury |
|
0.20% |
| Federal Home Loan Bank |
|
0.06 |
Lexington Money Market Trust
Financial Highlights
Selected per share data for a share outstanding throughout the
period:
| |
|
Year ended December
31,
|
| |
|
1999
|
|
1998
|
|
1997
|
|
1996
|
|
1995
|
| Net asset value, beginning of
period |
|
$1.00 |
|
|
$1.00 |
|
|
$1.00 |
|
|
$1.00 |
|
|
$1.00 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income from investment
operations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net
investment income |
|
0.0425 |
|
|
0.0455 |
|
|
0.0458 |
|
|
0.0441 |
|
|
0.0495 |
|
| Less distributions: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends from net investment income |
|
(0.0425 |
) |
|
(0.0455 |
) |
|
(0.0458 |
) |
|
(0.0441 |
) |
|
(0.0495 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net asset value, end of
period |
|
$1.00 |
|
|
$1.00 |
|
|
$1.00 |
|
|
$1.00 |
|
|
$1.00 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total return |
|
4.34% |
|
|
4.64% |
|
|
4.68% |
|
|
4.50% |
|
|
5.06% |
|
| Ratio to average net
assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses, before reimbursement |
|
1.01% |
|
|
1.05% |
|
|
1.04% |
|
|
1.04% |
|
|
1.08% |
|
|
Expenses, net of reimbursement |
|
1.00% |
|
|
1.00% |
|
|
1.00% |
|
|
1.00% |
|
|
1.00% |
|
| Net
investment income, before reimbursement |
|
4.25% |
|
|
4.51% |
|
|
4.55% |
|
|
4.37% |
|
|
4.87% |
|
| Net
investment income |
|
4.26% |
|
|
4.56% |
|
|
4.58% |
|
|
4.41% |
|
|
4.95% |
|
| Net assets, end of period (000
’s omitted) |
|
$97,85 |
|
|
$87,488 |
|
|
$95,149 |
|
|
$97,526 |
|
|
$88,786 |
|
Independent Auditors’ Report
The
Board of Trustees and Shareholders
Lexington Money Market Trust:
We have
audited the accompanying statement of net assets (including the portfolio
of investments) and assets and liabilities of Lexington Money Market Trust
as of December 31, 1999, the related statement of operations for the year
then ended, the statements of changes in net assets for each of the years
in the two-year period then ended, and the financial highlights for each of
the years in the five-year period then ended. These financial statements
and financial highlights are the responsibility of the Trust’s
management. Our responsibility is to express an opinion on these financial
statements and financial highlights based on our audits.
We
conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements and
financial highlights are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures
in the financial statements and financial highlights. Our procedures
included confirmation of securities owned as of December 31, 1999 by
correspondence with the custodian. An audit also includes assessing the
accounting principles used and significant estimates made by management, as
well as evaluating the overall financial statement presentation. We believe
that our audits provide a reasonable basis for our opinion.
In our
opinion, the financial statements and financial highlights referred to
above present fairly, in all material respects, the financial position of
Lexington Money Market Trust as of December 31, 1999, the results of its
operations for the year then ended, the changes in its net assets for each
of the years in the two-year period then ended, and its financial
highlights for each of the years in the five-year period then ended, in
conformity with generally accepted accounting principles.
New
York, New York
February 7, 2000
Lexington®
|
|
|
| |
|
Mutual
Funds
|
| Global •
International
Lexington Global Corporate Leaders Fund seeks long-term growth of
capital primarily through investment in a diversified portfolio of blue
chip securities domiciled in foreign countries and the U.S. that
represent "corporate leaders" in their respective industries.
Lexington International Fund seeks long- term growth of capital
through investment in common stocks of companies domiciled in foreign
countries.
Lexington Worldwide Emerging Markets Fund seeks long-term growth of
capital primarily through investment in equity securities of companies
domiciled in, or doing business in, emerging countries and emerging
markets.
Lexington Troika Dialog Russia Fund seeks long-term capital
appreciation through investment primarily in the equity securities of
Russian companies.
|
|
Lexington Small Cap Asia
Growth Fund seeks long-term capital appreciation through investment
in companies domiciled in the Asia Region with a market capitalization of
less than $1 billion.
Lexington Global Technology Fund seeks long-term growth of capital.
The Fund is designed to provide investors with a simple way to invest in
technology and information infrastructure companies located throughout
the world.
Lexington Global Income Fund seeks high current income. Capital
appreciation is a secondary objective. The Fund invests in a combination
of foreign and domestic high-yield, lower rated debt securities.
Domestic •
Lexington Corporate Leaders Trust Fund seeks long-term capital growth
and income. Portfolio assets are invested primarily in an equal number of
shares of an established list of American "blue-chip"
corporations. |
|
Lexington Growth and
Income Fund seeks long-term appreciation of capital through
investment in the common stocks of large, ably managed and well financed
companies.
Lexington GNMA Income Fund seeks a high level of current monthly
income through investment in mortgage-backed GNMA Certificates that are
guaranteed as to the timely payment of principal and interest by the U.S.
Government.
Lexington Money Market Trust seeks current income from short-term
investments as is consistent with preservation of capital and liquidity.
Precious Metals •
Lexington Goldfund seeks capital appreciation by providing a careful
mix of gold bullion and gold mining shares with assets diversified
throughout the world.
Lexington Silver Fund seeks long-term growth of capital by investing
in established silver-related companies throughout the world.
|
| Lexington website •
www.lexingtonfunds.com
|
|
|
|
|
| |
|
|
|
[LOGO]
LEXINGTONSM
|
| Website features
|
|
|
|
|
- Online Account
Access
- Fund Pricing and Performance
- Site Links -
Morningstar
CNBC
Wall Street Journal
|
|
- Meet the Managers
- News/Reviews
- Resource Center
|
|
1-800-526-0056
www.lexingtonfunds.com
Lexington Funds - Providing Global
SolutionsSM
|
| LEXINGTON MONEY MARKET TRUST |
|
| |
|
|
| Investment Adviser
Lexington Management Corporation
Park 80 West - Plaza Two
Saddle Brook, New Jersey 07663
Distributor
Lexington Funds Distributor, Inc.
Park 80 West - Plaza Two
Saddle Brook, New Jersey 07663
www.lexingtonfunds.com
|
All Shareholder requests for services of
any kind should be sent to:
Transfer Agent
State Street Bank and Trust Company
c/o National Financial Data Services
330 West Ninth Street
Kansas City, Missouri 64105
Or call Lexington Shareholder
Services at: 1-800-526-0056
|
LEXLINE 800-526-0052
24-hour toll-free telephone access
to your Lexington Fund account(s)
where you can obtain the
following:
- Price/Yield
- Account Balances
- Exchanges
- Last Transactions
- Total Return
- Duplicate Statements
|
|
|
|
| This report has been prepared for the
information of the shareholders of Lexington Money Market Trust and is
authorized for distribution to the public only if it is accompanied or
preceded by a currently effective prospectus which sets forth expenses
and other material information. LEX277-AR12/99 |
|
|
|
The Lexington Funds
Park 80 West - Plaza Two
Saddle Brook, New Jersey 07663
|
|
PRSRT STD
U.S. Postage
Paid
Lexington
Management Corp
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