Semi-Annual Financial Statements
(unaudited)
September 30, 1995
Wayne Hummer Money Fund Trust
Dear Fellow Shareholder:
We are pleased to present the semi-annual financial statements of Wayne Hummer
Money Fund Trust (the "Trust") for the period ended September 30, 1995. Net
assets under management at the end of the year totaled $188,185,402. Since its
inception, the Trust has continued to meet its objectives of liquidity and
stability, which are the most important considerations of short-term
investing.
The seven-day average yield on the Trust's portfolio for the period ended
September 30, 1995, was 5.03%; if dividends were reinvested the effective
yield was 5.15%. For the six-month period ended September 30, 1995, the Trust
provided a total return of 2.65%, assuming reinvestment of dividends. Since
these figures represent historical data, future yields may be higher or lower.
The policies and procedures of the Trust adhere to the strict criteria used by
rating agencies to assign the highest rating to money market funds. The Trust
invests only in the highest quality commercial instruments, does not purchase
foreign instruments and limits itself to dealing with banks that have $1
billion or more in assets.
As you are aware, the Trust offers its shareholders the ability to purchase
and redeem shares without penalties or cost, while providing a vehicle for
earning a yield on investments which reflects changes in current rates. The
Trust also offers the Systematic Investment Plan, check writing services and
provides, through Wayne Hummer & Co., a personal representative to whom
shareholders may speak to regarding their accounts and through whom
investments may be made.
We appreciate your continued support of the Trust and ask that you call or
write us if you have any questions about the Trust or your account.
Sincerely,
David P. Poitras
President
Wayne Hummer Money Fund Trust
An investment in the Trust is not a deposit or obligation of or guaranteed or
insured by the U.S. Government, any bank, the Federal Deposit Insurance
Corporation, or any other agency. There can be no assurance that the Trust
will be able to maintain a stable net asset value of $1.00 per share.
<PAGE>
<TABLE>
Wayne Hummer Money Fund Trust
<CAPTION>
Statement of Assets and Liabilities
September 30,
1995 March 31,
(Unaudited) 1995
<S> <C> <C>
Assets
Investments, at amortized cost $187,942,034 $154,828,799
Other assets:
Cash 22,341 116,266
Interest receivable 457,403 456,645
Prepaid expenses 35,993 49,585
Insurance deposit 18,775 18,775
------------ ------------
Total assets 188,476,546 155,470,070
Liabilities and Net Assets
Dividends payable 152,136 111,977
Due to Wayne Hummer
Management Company 77,800 65,604
Accounts payable 61,208 44,612
------------ ------------
Total liabilities 291,144 222,193
------------ ------------
Net assets applicable to Shares
outstanding, equivalent to $1.00 per Share $188,185,402 $155,247,877
============ ============
</TABLE>
<PAGE>
<TABLE>
Statement of Operations
<CAPTION>
Six months
ended
September 30, Year ended
1995 March 31,
(Unaudited) 1995
<S> <C> <C>
Interest income $5,388,055 $7,308,352
Expenses:
Management fee 446,975 736,790
Transfer agent fees 70,500 123,200
Shareholder service agent fees 59,730 114,800
Custodian fees 28,800 59,600
Professional fees 35,900 59,213
Registration costs 19,747 21,153
Insurance costs 8,831 17,743
Trustee fees 12,000 16,608
Portfolio accounting fees 8,557 6,028
Other 26,357 24,057
---------- ----------
Total expenses 717,397 1,179,192
---------- ----------
Net investment income 4,670,658 6,129,160
Net realized loss on investments -- (164,303)
---------- ----------
Net increase in net assets resulting
from operations $4,670,658 $5,964,857
=========== ==========
</TABLE>
<PAGE>
<TABLE>
Statement of Changes in Net Assets
<CAPTION>
Six months ended Year ended
September 30, 1995 March 31,
(Unaudited) 1995
<S> <C> <C>
Operations:
Net investment income $ 4,670,658 $ 6,129,160
Net realized loss on investments -- (164,303)
------------ ------------
Net increase in net assets resulting from operations 4,670,658 5,964,857
Dividends to Shareholders from net investment income (4,670,658) (6,129,160)
Capital contribution -- 164,303
Capital Share transactions (dollar amounts and number of Shares are
the same):
Proceeds from Shares sold 232,659,926 380,661,450
Shares issued upon reinvestment of dividends 4,453,509 5,862,996
------------ ------------
237,113,435 386,524,446
Less payments for Shares redeemed (204,175,910) (384,805,251)
------------ ------------
Increase due to Capital Share transactions 32,937,525 1,719,195
Net assets at beginning of the period 155,247,877 153,528,682
------------ ------------
Net assets at end of the period $188,185,402 $155,247,877
============ ============
</TABLE>
<PAGE>
<TABLE>
Financial Highlights
(For a Share outstanding throughout each period)
<CAPTION>
Six months ended Year ended
September 30, 1995 March 31,
(Unaudited) 1995
<S> <C> <C>
Net asset value, beginning of period $1.00 $1.00
Income from investment operations:
Net investment income 0.03 0.04
Less dividends from investment income (0.03) (0.04)
---------- ----------
Net asset value, end of period $1.00 $1.00
========== ==========
Total return 2.65% 4.24%(b)
Ratios and Supplementary Data
Net assets, end of period ($000's) 188,185 155,248
Ratio of total expenses to average net assets .80%(a) .80%
Ratio of net investment income to average net assets 5.22%(a) 4.16%
<FN>
Notes to Financial Highlights:
(a) Determined on an annualized basis.
(b) The total return includes the effect of the capital contribution of
$0.0011 per Share. The return without the capital contribution would have been
4.12%.
</TABLE>
<PAGE>
<TABLE>
Portfolio of Investments
September 30, 1995
<CAPTION>
Maturity
Principal Rate Date
Amount Commercial Paper (64.7) % 1995 Value
<S> <C> <C> <C> <C>
$3,430,000 Chevron Oil Finance Co. 5.822 10/02 $ 3,429,453
4,600,000 GTE North Inc. 5.801 10/02 4,599,269
1,665,000 Norwest Financial Inc. 5.822 10/02 1,664,735
3,775,000 Pitney Bowes Credit Corp. 5.823 10/03 3,773,796
5,000,000 Chevron Oil Finance Co 5.813 10/04 4,997,612
3,380,000 Bellsouth Telecommunications Inc. 5.814 10/05 3,377,848
3,500,000 DuPont (E.I.) De Nemours & Co. 5.744 10/06 3,497,249
7,530,000 Wal-Mart Stores Inc. 5.788 10/10 7,519,270
1,500,000 Norwest Financial Inc. 5.810 10/11 1,497,617
4,770,000 Florida Power Corp. 5.821 10/12 4,761,649
5,000,000 Raytheon Co. 5.811 10/12 4,991,261
5,000,000 Snap-On Inc. 5.811 10/12 4,991,261
2,300,000 General Electric Capital Corp. 5.822 10/13 2,295,607
1,800,000 Penney (J.C.) Funding Corp. 5.811 10/13 1,796,568
3,000,000 Wisconsin Power & Light Co. 5.832 10/13 2,994,260
5,600,000 Hartford Steam Boiler Inspection and Insurance Co. 5.796 10/18 5,584,927
3,000,000 Snap-On Inc. 5.817 10/19 2,991,420
4,000,000 National Rural Utilities Cooperative Finance Corp. 5.800 10/23 3,986,067
1,500,000 General Electric Capital Corp. 5.823 10/25 1,494,280
3,000,000 Hartford Steam Boiler Inspection and Insurance Co. 5.853 10/25 2,988,500
5,785,000 Associates Corp. of North America 5.834 10/26 5,761,980
4,000,000 Florida Power Corp. 5.835 10/27 3,983,447
5,000,000 Norwest Financial Inc. 5.835 10/27 4,979,308
5,600,000 Equitable Resources Inc. 5.797 10/31 5,573,442
5,000,000 Penney (J.C.) Funding Corp. 5.798 11/01 4,975,501
1,478,000 National Rural Utilities Cooperative Finance Corp. 5.810 11/02 1,470,511
4,150,000 Wisconsin Power & Light Co. 5.882 11/03 4,128,050
7,470,000 Illinois Tool Works Inc. 5.855 11/07 7,425,931
3,000,000 Teco Finance Inc. 5.775 11/09 2,981,605
6,000,000 Banc One Corp. 5.769 11/14 5,958,567
1,300,000 Teco Finance Inc. 5.809 12/05 1,286,691
------------
121,757,682
------------
<PAGE>
US Government & Agencies (13.2%)
1,000,000 Federal Home Loan Bank (a) 6.070 10/01 1,000,000
2,000,000 Federal Farm Credit Bank (a) 6.050 10/01 2,001,782
4,500,000 Student Loan Marketing Association (a) 5.510 10/03 4,500,419
500,000 Federal Home Loan Bank 6.900 10/25 499,391
1,000,000 Federal Home Loan Bank 5.750 10/30 999,846
1,500,000 Federal Farm Credit Bank (a) 5.670 11/23 1,498,099
1,000,000 Federal Home Loan Bank 6.400 11/28 1,000,477
2,000,000 Federal Farm Credit Bank (a) 5.770 12/01 2,000,000
2,000,000 Federal Home Loan Bank 6.160 12/26 2,015,038
1,300,000 Private Export Funding Corp. 5.629 01/31/96 1,313,462
2,000,000 Federal National Mortgage Association 5.920 03/01/96 1,988,852
5,000,000 Federal Home Loan Mortgage Corp. 5.750 03/08/96 4,972,017
1,000,000 Federal Home Loan Bank 6.000 08/22/96 1,000,000
------------
24,789,383
------------
Corporate and Bank Notes (14.6%)
2,000,000 General Electric Capital Corp. (a) 6.070 10/01 2,000,000
3,000,000 Society National Bank, Cleveland, OH (a) 6.175 10/01 2,999,648
5,000,000 NBD Bank N.A., Detroit, MI 5.720 10/20 4,999,969
3,000,000 NBD Bank N.A., Detroit, MI 5.720 10/23 2,999,958
500,000 Norwest Financial Inc. 6.300 11/01 500,387
2,750,000 Associates Corp. of North America 5.870 12/01 2,750,310
1,500,000 WMX Technologies, Inc. 6.200 12/15 1,498,249
3,000,000 Wachovia Bank of North Carolina, N.A., Winston-Salem, NC (a) 5.750 12/20 3,000,000
1,625,000 Ford Motor Credit Co. 6.470 01/08/96 1,638,455
3,000,000 LaSalle National Bank, Chicago, IL 5.700 01/16/96 3,000,000
2,000,000 Harris Trust & Savings Bank, Chicago, IL 6.050 08/29/96 2,001,149
------------
27,388,125
------------
Bankers Acceptances (4.7%)
5,000,000 NationsBank of Florida N.A., Tampa 5.910 10/31 4,975,834
4,000,000 NationsBank of Florida N.A., Tampa 5.812 11/27 3,964,027
------------
8,939,861
------------
Certificates of Deposit (2.7%)
5,000,000 Harris Trust & Savings Bank, Chicago, IL 5.700 11/20 5,000,000
66,983 State Street Bank & Trust Co., Boston, MA 5.500 02/28/96 66,983
------------
5,066,983
------------
TOTAL INVESTMENTS (99.9%) 187,942,034
CASH AND OTHER ASSETS, LESS LIABILITIES (0.1%) 243,368
------------
NET ASSETS (100.0%) $188,185,402
============
<FN>
Notes to Portfolio of Investments:
(a) Short term floating rate security. Rate shown represents the effective
interest rate at September 30, 1995. The date shown is the next interest
rate change date.
(b) Interest rates represent annualized yield to date of maturity.
(c) For each security, cost (for financial reporting and federal income tax
purposes) and carrying value are the same.
See accompanying notes to financial statements.
</TABLE>
<PAGE>
Notes to Financial Statements
Organization:
Wayne Hummer Money Fund Trust (the "Trust") is organized as an unincorporated
business trust under the laws of Massachusetts. It commenced investment
operations on April 2, 1982. The Trust may issue an unlimited number of full
and fractional units of beneficial interest ("Shares") without par value in
one or more series ("Portfolios"). At September 30, 1995, Shares of only one
series were outstanding.
1. Significant Accounting Policies
Security Valuation
Investments are stated at value. The Trust utilizes the amortized cost method
to determine value. In the event that a deviation of 1/2 of 1% or more exists
between a Portfolios's $1.00 per Share net asset value and the net asset value
as calculated by valuing the Portfolio securities based upon market
quotations, if available, or otherwise based upon a matrix system approved by
the Board of Trustees, or if there is any other deviation which the Trust
believes would result in a material dilution to Shareholders or purchasers,
the Board of Trustees of the Trust promptly will consider what action should
be taken.
Security Transactions and Investment Income
Security transactions are accounted for on the trade date. Investment income
is recorded on the accrual basis and includes amortization of premium and
discount on investments.
2. Trust Share Valuation and Dividends to Shareholders
Trust Shares are sold and redeemed on a continuous basis at net asset value.
Net asset value per Share is determined on each day the New York Stock
Exchange is open for trading as of the close of trading on the Exchange and at
3:00 p.m. Chicago time on each other day during which there is a sufficient
degree of trading in securities of the Trust's Portfolio so as to affect
materially the net asset value of the Shares by dividing the value of net
assets (total assets less liabilities) by the total number of Shares
outstanding. Dividends are declared daily and distributed monthly in the form
of additional Shares at net asset value unless the Shareholder elects to have
dividends paid in cash, in which case they are credited monthly to the
Shareholder's brokerage account with Wayne Hummer & Co.
<PAGE>
3. Federal Income Taxes
It is the Trust's policy to comply with the special provisions of the Internal
Revenue Code available to investment companies and, in the manner provided
therein, to distribute all of its taxable income, as well as any net realized
gain on sales of investments. Such provisions were complied with and therefore
no federal income tax provision is required.
4. Transactions with Affiliates
The Trust has an Investment Advisory and Management Agreement and a Portfolio
Accounting Services Agreement with Wayne Hummer Management Company
("Investment Adviser"), and a Distribution Agreement and a Shareholder Service
Agreement with Wayne Hummer & Co ("Distributor and Shareholder Service
Agent"). The shareholders of the Investment Adviser are the general partners
of the Distributor and Shareholder Service Agent. For advisory and management
services and facilities furnished, the Trust pays fees on a declining annual
basis ranging from .50 of 1% on the first $500 million of average daily net
assets to .275 of 1% of average daily net assets in excess of $2.5 billion.
The Investment Adviser is obligated to reimburse the Trust to the extent that
the Trust's ordinary operating expenses, including the fee of the Investment
Adviser, exceed 1% of average daily net assets on an annual basis. During the
period ended September 30, 1995, and the year ended March 31, 1995, the Trust
incurred management fees of $446,975 and $736,790, respectively.
For portfolio accounting services, the Trust pays the Investment Adviser a fee
based on the level of average daily net assets plus out-of-pocket expenses.
The Trust reimburses the Shareholder Service Agent for the approximate cost of
processing Trust Share transactions and maintaining Shareholder accounts.
Certain trustees of the Trust are also officers or directors of the Investment
Adviser or partners of the Distributor and Shareholder Service Agent. During
the period ended September 30,1995 and the year ended March 31, 1995, the
Trust made no direct payments to its officers and incurred trustee fees for
its unaffiliated trustees of $12,000 and $16,608, respectively.
During the year ended March 31, 1995, the Trust sold two securities at
amortized cost to Wayne Hummer & Co. in an affiliated party transaction
sanctioned by the Securities and Exchange Commission. The excess of the
amortized cost over the market value on the date of the transaction is shown
as a capital contribution to the Trust.
<PAGE>
Board of Trustees
Philip M. Burno
Chairman
Steven R. Becker
Charles V. Doherty
Joel D. Gingiss
Patrick B. Long
Eustace K. Shaw
This brochure must be preceded or accompanied by a current prospectus of the
Wayne Hummer Money Fund Trust.
Wayne Hummer & Co.
Serving Investors Since 1931
300 South Wacker
Chicago, Illinois
60606
1.800.621.4477 (toll-free)
(312) 431.1700 (local)
200 E. Washington Street
Appleton, Wisconsin
54911
1.800.678.0833 (toll-free)
(414) 734.1474 (local)
