Sovereign Bank

Mutual Funds Sweep

Mutual Funds Sweep
This is a family of money market mutual funds managed by Fidelity Investments® that your business can use to invest excess funds at highly-competitive rates.
With Mutual Funds Sweep, funds may be swept each business day and invested the next day in the money market mutual fund that you specify.

Funds remain in the money market mutual fund until they are needed to cover a payment. Dividends accrue daily and are paid during the first week of the following month.

You can choose from a variety of Fidelity Investments funds, tailoring your selection to your risk/return objective and your business’s investment and tax strategy.


Non-Deposit investment products are
NOT FDIC INSURED
MAY LOSE VALUE
 NO BANK GUARANTEE