Money Market Funds
|6 Months Ended|
Jun. 30, 2015
|Investments, Debt and Equity Securities [Abstract]|
|Money Market Funds||
5. Money Market Funds
Money market funds at June 30, 2015 and December 31, 2014 consisted of investments in shares of Morgan Stanley New York Municipal Money Market Trust with a market value of $1,124,064 and $213,699, respectively.
The Morgan Stanley New York Municipal Money Market Trust is an open-end fund incorporated in the USA. The Funds objective is as high level of daily income exempt from federal and New York income tax as is consistent with stability of principal and liquidity. The Fund invests in high quality, short- term municipal obligations that pay interest exempt from federal and NY taxes.
The following table presents money market funds at their level within the fair value hierarchy at June 30, 2015 and December 31, 2014.
The entire disclosure for the fair value of Investment in short-term money-market instruments (such as commercial paper, banker's acceptances, repurchase agreements, government securities, certificates of deposit, and so forth) which are highly liquid (that is, readily convertible to known amounts of cash) and so near their maturity that they present an insignificant risk of changes in value because of changes in interest rates.
No definition available.