0001193125-18-077443.txt : 20180309 0001193125-18-077443.hdr.sgml : 20180309 20180309163759 ACCESSION NUMBER: 0001193125-18-077443 CONFORMED SUBMISSION TYPE: N-CSR PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20171231 FILED AS OF DATE: 20180309 DATE AS OF CHANGE: 20180309 EFFECTIVENESS DATE: 20180309 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SUNAMERICA MONEY MARKET FUNDS INC CENTRAL INDEX KEY: 0000724129 IRS NUMBER: 133234943 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-CSR SEC ACT: 1940 Act SEC FILE NUMBER: 811-03807 FILM NUMBER: 18680621 BUSINESS ADDRESS: STREET 1: HARBORSIDE 5 STREET 2: 185 HUDSON STREET, SUITE 3300 CITY: JERSEY CITY STATE: NJ ZIP: 07311 BUSINESS PHONE: 2013246300 MAIL ADDRESS: STREET 1: HARBORSIDE 5 STREET 2: 185 HUDSON STREET, SUITE 3300 CITY: JERSEY CITY STATE: NJ ZIP: 07311 FORMER COMPANY: FORMER CONFORMED NAME: SUNAMERICA MONEY MARKET SECURITIES INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: INTEGRATED MONEY MARKET SECURITIES INC DATE OF NAME CHANGE: 19900302 0000724129 S000007637 AIG Government Money Market Fund C000020840 Class A SMAAX C000020843 Class I NAIXX N-CSR 1 d520402dncsr.txt N-CSR ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 --------- FORM N-CSR --------- CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number 811-3807 SunAmerica Money Market Funds, Inc. ---------------------------------------------------- (Exact name of registrant as specified in charter) Harborside 5, 185 Hudson Street, Suite 3300 Jersey City, NJ 07311 --------------------------------------------------------------------- (Address of principal executive offices) (Zip code) John T. Genoy Senior Vice President SunAmerica Asset Management, LLC Harborside 5, 185 Hudson Street, Suite 3300 Jersey City, NJ 07311 ----------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: (201) 324-6414 Date of fiscal year end: December 31 Date of reporting period: December 31, 2017 ================================================================================ Item 1. Reports to Stockholders ANNUAL REPORT 2017 AIG Government Money Market Fund [PHOTO] [LOGO] Table of Contents SHAREHOLDERS' LETTER.................................... 2 EXPENSE EXAMPLE......................................... 4 STATEMENT OF ASSETS AND LIABILITIES..................... 6 STATEMENT OF OPERATIONS................................. 7 STATEMENT OF CHANGES IN NET ASSETS...................... 8 FINANCIAL HIGHLIGHTS.................................... 9 PORTFOLIO OF INVESTMENTS................................ 10 NOTES TO FINANCIAL STATEMENTS........................... 12 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM. 18 DIRECTORS AND OFFICERS INFORMATION...................... 19 SHAREHOLDER TAX INFORMATION............................. 23
December 31, 2017 ANNUAL REPORT Shareholders' Letter -- (unaudited) Dear Shareholders, We are pleased to present this annual shareholder report for the AIG Government Money Market Fund (the "Fund") for the 12 months ended December 31, 2017. Please note that effective February 28, 2017, SunAmerica Mutual Funds was rebranded as AIG Funds, and each Fund's name was changed accordingly. SunAmerica Asset Management, LLC, the investment adviser to the Fund, continues to serve as investment adviser of the Fund and retains its current name. In addition, there was no change in the Fund's investment goals or strategies, portfolio managers or ticker symbols in connection with the rebranding. The annual period ended December 31, 2017 was one wherein money market yields remained low throughout but did move modestly higher as the Federal Reserve (the "Fed") proceeded to raise the targeted federal funds rate three times, by 25 basis points each,/*/ bringing it to a range of 1.25%-1.50% by the end of December 2017. Indeed, as the annual period progressed, most central banks around the world became incrementally more hawkish. The Fed raised interest rates in March, June and December of 2017 and began tapering its asset purchases in October 2017. Strong economic growth and inflation data prompted the Bank of Canada to raise interest rates during July 2017 for the first time in seven years -- and then it did so again in a surprise move less than two months later. Through much of the annual period, the Bank of England (BoE) indicated interest rate increases may be looming for the U.K. to contain surging inflation, despite uncertainty about the post-Brexit growth outlook. Then, during the fourth calendar quarter, the BoE raised its interest rates for the first time in 10 years, noting future rate hikes would depend on the stability of the Brexit transition. The European Central Bank (ECB) announced its intention early in 2017 to continue the pace of its bond purchases through at least December 2017 and pushed back against the notion of initiating interest rate increases prior to the end of its quantitative easing. The ECB then announced in October 2017 a reduction in its monthly asset purchases beginning in January 2018 but extended its purchase program through September 2018. The People's Bank of China raised its open market operations reverse repo rate during the fourth quarter of 2017. The exception was the Bank of Japan, which remained accommodative, re-stating its commitment to maintain a zero-yield policy on 10-year Japanese government bonds. The U.S. Treasury money market yield curve, or spectrum of maturities, flattened during the annual period overall, as yields on shorter-term maturities rose while yields on longer-term maturities declined. Though there was little difference in yields between maturities, the Fed's actions did help drive short-term rates higher, creating opportunities to purchase modestly higher yielding securities. On the following pages, you will find a brief discussion of the annual period from the portfolio manager. You will also find financial statements and portfolio information for the Fund for the annual period ended December 31, 2017. As always, we remain diligent in the management of your assets. If you have any questions, or require additional information on this or other AIG Funds, we invite you to contact your financial advisor or visit us at our website, www.aig.com/funds. We value your ongoing confidence in us and look forward to serving your investment needs in the future. Sincerely, /s/ Peter A. Harbeck Peter A. Harbeck President & CEO SunAmerica Asset Management, LLC -------- Past performance is no guarantee of future results. *A basis point is 1/100/th/ of a percentage point. You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. 2 AIG Government Money Market Fund The AIG Government Money Market Fund (Class A) returned 0.04% for the annual period ended December 31, 2017. Fund performance was affected most by rising, yet still low, interest rates that persisted throughout 2017. While money market yields were low throughout the annual period, the Fund continued to seek current income to the extent consistent with liquidity and stability of principal. To qualify as a government money market fund, the Fund must invest at least 99.5% of its total assets in cash, U.S. government securities, and/or repurchase agreements that are collateralized by cash and/or U.S. government securities. More specifically, during the annual period, the Fund had its greatest allocation to U.S. government agency securities, especially Federal Home Loan Bank Discount Notes and Fannie Mae Discount Notes, as we believed these securities offered the best pricing versus U.S. Treasuries. The positions in these agency securities contributed positively to the fund's annual performance due to higher discount note funding needs, floating rate funding needs and the multiple interest rate raises by the Federal Reserve (the "Fed") during the annual period. These Discount Notes, along with Federal Farm Credit Bank positions, were the best performing investments in the Fund during the annual period. Positions in U.S. Treasuries posted positive absolute returns but detracted from the Fund's performance, as they were the lowest yielding investments in its portfolio during the annual period. U.S. Treasuries were under pressure due to compressed yields early in the calendar year and debt ceiling concerns throughout the annual period. The Fed's December 2017 interest rate increase helped mitigate these securities' relative underperformance given the resulting increases in U.S. Treasury yields and the enhanced opportunities for our team to purchase higher yielding securities. We were able to navigate interest rate risk by adjusting the Fund's weighted average maturity/1/ as market conditions shifted. In anticipation of higher interest rates, we managed the Fund's weighted average maturity to remain short for most of the annual period. Investments within the short weighted average maturity were, when market conditions warranted, laddered, meaning holding securities of different maturity dates. This strategy enabled us to maintain liquidity, to take advantage of attractively priced investment opportunities when available, and to mitigate the effects of rising rates. The Fund generally maintained a weighted average maturity in a range of between 20 to 35 days through the annual period, making adjustments based on then-current market conditions, our near-term view on interest rates and anticipated and actual Fed monetary policy statements. As of the end of the annual period, the Fund's weighted average maturity stood at approximately 10 days, having shortened the Fund's weighted average maturity heading into the December 2017 Fed interest rate increase. The Fund's weighted average life/2/ on December 31, 2017 was 46 days. -------- Past performance is no guarantee of future results. 1 Weighted average maturity is the average time it takes for securities in a portfolio to mature, weighted in proportion to the dollar amount that is invested in the portfolio. The weighted average maturity of a money market fund is a measure of its price sensitivity to changes in interest rates. 2 The weighted average life of a money market fund's portfolio is an average of the final maturities of all securities held in the portfolio, weighted by each security's percentage of net assets. Pursuant to SEC Rule 2a-7, the maximum allowable weighted average life of a money market fund's portfolio is 120 days. You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. Securities listed may or may not be a part of current portfolio construction. 3 SunAmerica Money Market Funds, Inc. EXPENSE EXAMPLE -- December 31, 2017 -- (unaudited) Disclosure of Portfolio Expenses in Shareholder Reports As a shareholder in the AIG Government Money Market Fund (the "Fund"), you may incur two types of costs: (1) transaction costs, including contingent deferred sales charges, small account fees and administrative fees and (2) ongoing costs, including management fees, distribution and account maintenance fees, and other Fund expenses. This Example set forth below is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The Example is based on an investment of $1,000 invested at July 1, 2017 and held until December 31, 2017. Actual Expenses The "Actual" section of the table provides information about actual account values and actual expenses. You may use the information in these columns, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the column under the heading entitled "Expenses Paid During the Six Months Ended December 31, 2017" to estimate the expenses you paid on your account during this period. For shareholder accounts in classes other than Class I, the "Expenses Paid During the Six Months Ended December 31, 2017" column and the "Annualized Expense Ratio" column do not include small account fees that may be charged if your account balance is below $500 ($250 for retirement plan accounts). In addition, the "Expenses Paid During the Six Months Ended December 31, 2017" column and the "Annualized Expense Ratio" column do not include administrative or other fees that may apply to qualified retirement plan accounts and accounts held through financial institutions. See the Fund's prospectus, your retirement plan documents and/or materials from your financial adviser for a full description of these fees. Had these fees been included, the "Expenses Paid During the Six Months Ended December 31, 2017" column would have been higher and the "Ending Account Value" column would have been lower. Hypothetical Example for Comparison Purposes The "Hypothetical" section of the table provides information about hypothetical account values and hypothetical expenses based on the Fund's actual expense ratio and an annual rate of return of 5% before expenses, which is not the Fund's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds. For shareholder accounts in classes other than Class I, the "Expenses Paid During the Six Months Ended December 31, 2017" column and the "Annualized Expense Ratio" column do not include small account fees that may be charged if your account balance is below $500 ($250 for retirement plan accounts). In addition, the "Expenses Paid During the Six Months Ended December 31, 2017" column and the "Annualized Expense Ratio" column do not include administrative fees that may apply to qualified retirement plan accounts and accounts held through financial institutions. See the Fund's prospectus, your retirement plan documents and/or materials from your financial adviser for a full description of these fees. Had these fees been included, the "Expenses Paid During the Six Months Ended December 31, 2017" column would have been higher and the "Ending Account Value" column would have been lower. Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs, including contingent deferred sales charges, small account fees and administrative fees, if applicable to your account. Please refer to the Fund's prospectus, qualified retirement plan document and/or materials from your financial adviser for more information. Therefore, the "Hypothetical" example is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transaction costs and other fees were included, your costs would have been higher. 4 SunAmerica Money Market Funds, Inc. EXPENSE EXAMPLE -- December 31, 2017 -- (unaudited) (continued)
Actual Hypothetical ---------------------------------------------------- ---------------------------------------------------- Ending Ending Account Account Value Expenses Paid Value Using Expenses Paid Beginning Using Actual During the Beginning a Hypothetical 5% During the Annualized Account Value Return at Six Months Ended Account Value Annual Return at Six Months Ended Expense as July 1, 2017 December 31, 2017 December 31, 2017* as July 1, 2017 December 31, 2017 December 31, 2017* Ratio* --------------- ----------------- ------------------ --------------- ----------------- ------------------ ---------- AIG Government Money Market Fund#+ Class A.. $1,000.00 $1,000.16 $5.04 $1,000.00 $1,020.16 $5.09 1.00% Class I.. $1,000.00 $1,001.17 $4.04 $1,000.00 $1,021.17 $4.08 0.80%
-------- * Expenses are equal to the Fund's annualized expense ratio multiplied by the average account value over the period, multiplied by 184 days then divided by 365 days (to reflect the one-half year period). These ratios do not reflect transaction costs, including contingent deferred sales charges, small account fees and administrative fees, if applicable to your account. Please refer to your Prospectus, your qualified retirement plan document and/or materials from your financial adviser for more information. # During the stated period, the investment adviser and distributor either waived a portion of or all of the fees and assumed a portion of or all expenses for the Fund. As a result, if these fees and expenses had not been waived or assumed, the "Actual/Hypothetical Ending Account Value" would have been lower and the "Actual/Hypothetical Expenses Paid During the Six Months Ended December 31, 2017" and the "Annualized Expense Ratio" would have been higher. + See Note 1 5 SunAmerica Money Market Funds, Inc. STATEMENT OF ASSETS AND LIABILITIES -- December 31, 2017
AIG Government Money Market Fund+ -------------------- ASSETS: Investments at value* (unaffiliated)............................... $117,241,401 Repurchase agreements (cost approximates value).................... 300,000 Cash............................................................... 3,211 Receivable for: Fund shares sold................................................. 36,861 Dividends and interest........................................... 16,061 Prepaid expenses and other assets.................................. 19,779 Due from investment adviser for expense reimbursements/fee waivers. 2,907 Due from distributor for fee waivers............................... 13,483 ------------ Total assets..................................................... 117,633,703 ------------ LIABILITIES: Payable for: Fund shares redeemed............................................. 341,966 Investment advisory and management fees.......................... 50,043 Distribution and service maintenance fees........................ 14,573 Transfer agent fees and expenses................................. 56,271 Directors' fees and expenses..................................... 966 Other accrued expenses........................................... 137,690 Dividends payable.................................................. 64 ------------ Total liabilities................................................ 601,573 ------------ Net Assets...................................................... $117,032,130 ============ Common stock, $.001 par value (3.5 billion shares authorized)...... $ 116,880 Paid-in capital.................................................... 116,912,224 ------------ 117,029,104 Accumulated undistributed net investment income (loss)............. 2,957 Accumulated undistributed realized gain (loss) on investment....... 69 ------------ Net assets......................................................... $117,032,130 ============ Class A: Net assets......................................................... 105,421,759 Shares outstanding................................................. 105,293,197 Net asset value and redemption price per share (excluding any applicable contingent deferred sales charge)....... $ 1.00 ============ Class I: Net assets......................................................... 11,610,371 Shares outstanding................................................. 11,586,713 Net asset value and redemption price per share..................... $ 1.00 ============ *Amortized cost of investment securities (unaffiliated)............ $117,241,401 ============
-------- + See Note 1 See Notes to Financial Statements 6 SunAmerica Money Market Funds, Inc. STATEMENT OF OPERATIONS -- For the year ended December 31, 2017
AIG Government Money Market Fund+ -------------------- INVESTMENT INCOME: Interest (unaffiliated)................................................................ $1,004,136 ---------- Total investment income............................................................. 1,004,136 ---------- EXPENSES: Investment advisory and management fees................................................ 572,738 Distribution and account maintenance fees Class A.............................................................................. 153,432 Transfer agent fees and expenses Class A.............................................................................. 329,402 Class I.............................................................................. 27,336 Registration fees Class A.............................................................................. 37,961 Class I.............................................................................. 14,996 Custodian and accounting fees.......................................................... 12,887 Reports to shareholders................................................................ 66,525 Audit and tax fees..................................................................... 56,232 Legal fees............................................................................. 42,549 Directors' fees and expenses........................................................... 2,013 Other expenses......................................................................... 14,476 ---------- Total expenses before fee waivers, expense reimbursements........................... 1,330,547 Fees waived and expenses reimbursed by investment adviser and distributor (Note 3).. (362,867) ---------- Net expenses........................................................................ 967,680 ---------- Net investment income (loss)........................................................... 36,456 ---------- Net realized gain (loss) on investments................................................ 69 ---------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS........................ $ 36,525 ==========
-------- + See Note 1 See Notes to Financial Statements 7 SunAmerica Money Market Funds, Inc. STATEMENT OF CHANGES IN NET ASSETS
AIG Government Money Market Fund+ -------------------------------- For the year For the year ended ended December 31, December 31, 2017 2016 ------------ ------------- INCREASE (DECREASE) IN NET ASSETS Operations: Net investment income (loss)........................................................... $ 36,456 $ 60,331 Net realized gain (loss) on investments................................................ 69 90,805 ------------ ------------- Net increase (decrease) in net assets resulting from operations.......................... $ 36,525 $ 151,136 ------------ ------------- Distributions to shareholders from: Net investment income (Class A)........................................................ (18,712) (56,354) Net investment income (Class I)........................................................ (14,873) (890) Net realized gains on securities (Class A)............................................. (20,522) -- Net realized gains on securities (Class I)............................................. (2,561) -- ------------ ------------- Total distributions to shareholders...................................................... (56,668) (57,244) ------------ ------------- Net increase (decrease) in net assets resulting from capital share transactions (Note 5). 1,465,808 (705,749,565) ------------ ------------- Total increase (decrease) in net assets.................................................. 1,445,665 (705,655,673) ------------ ------------- NET ASSETS: Beginning of period...................................................................... 115,586,465 821,242,138 ------------ ------------- End of period*........................................................................... $117,032,130 $ 115,586,465 ============ ============= *Includes accumulated undistributed net investment income (loss)......................... $ 2,957 $ -- ============ =============
-------- + See Note 1 See Notes to Financial Statements 8 SunAmerica Money Market Funds, Inc. FINANCIAL HIGHLIGHTS
AIG GOVERNMENT MONEY MARKET FUND+ --------------------------------- Net Net Net Ratio of net Asset Dividends Distributions Asset Assets Ratio of investment Value Net from net from net Value end of expenses income to beginning investment investment realized end of Total period to average average Period Ended of period income(1) income gains period Return(2) (000's) net assets(3) net assets(3) ------------ --------- ---------- ---------- ------------- ------ --------- -------- ------------- ------------- Class A - 12/31/13 $1.00 $0.00 $(0.00) $ -- $1.00 0.01% $736,942 0.18% 0.01% 12/31/14 1.00 0.00 (0.00) -- 1.00 0.01 720,356 0.14 0.01 12/31/15 1.00 0.00 (0.00) -- 1.00 0.01(4) 807,427 0.17 0.01 12/31/16 1.00 0.00 (0.00) -- 1.00 0.01 102,735 0.38 0.01 12/31/17 1.00 0.00 (0.00) (0.00) 1.00 0.04 105,422 0.86 0.02 Class I - 12/31/13 $1.00 $0.00 $(0.00) $ -- $1.00 0.01% $ 13,360 0.18% 0.01% 12/31/14 1.00 0.00 (0.00) -- 1.00 0.01 15,847 0.14 0.01 12/31/15 1.00 0.00 (0.00) -- 1.00 0.01(4) 13,815 0.16 0.01 12/31/16 1.00 0.00 (0.00) -- 1.00 0.01 12,851 0.39 0.01 12/31/17 1.00 0.00 (0.00) (0.00) 1.00 0.15 11,610 0.75 0.12
-------- (1) Calculated based upon average shares outstanding. (2) Total return does not reflect sales load but does include expense reimbursements. (3) Net of the following expense reimbursements/waivers (based on average net assets):
12/31/13 12/31/14 12/31/15 12/31/16 12/31/17 -------- -------- -------- -------- -------- Class A............. 0.75% 0.79% 0.78% 0.57% 0.32% Class I............. 0.68 0.69 0.71% 0.56% 0.27%
(4) The Fund's performance figure was increased by less than 0.01% from the effect of payments by an affiliate + See Note 1 See Notes to Financial Statements 9 AIG Government Money Market Fund+ PORTFOLIO PROFILE -- December 31, 2017 -- (unaudited) Industry Allocation* U.S. Government Agencies.......... 93.7% U.S. Government Treasuries........ 6.4 Repurchase Agreements............. 0.3 ----- 100.4% ===== Weighted average days to maturity. 9.9
Credit Quality Allocation@# P-1 100.0% =====
-------- * Calculated as a percentage of net assets. @ Source: Moody's. # Calculated as a percentage of total debt issues. + See Note 1. 10 AIG Government Money Market Fund+ PORTFOLIO OF INVESTMENTS -- December 31, 2017
Principal Value Security Description Amount (Note 2) SHORT-TERM INVESTMENT SECURITIES -- 100.1% U.S. Government Agencies -- 93.7% Federal Farm Credit Bank FRS 1.28% (1 ML-0.15%) due 10/11/2018................... $ 7,000,000 $ 6,999,857 1.46% (3 ML-0.03%) due 03/02/2018.................. 255,000 255,118 Federal Home Loan Bank 1.05% due 01/02/2018............. 24,000,000 23,999,300 1.07% due 01/03/2018............ 10,000,000 9,999,406 1.08% due 01/04/2018............ 5,300,000 5,299,523 1.08% due 01/08/2018............ 4,000,000 3,999,160 1.17% due 01/17/2018............ 4,000,000 3,997,920 1.21% due 01/03/2018............ 1,000,000 999,933 1.24% due 01/04/2018............ 5,000,000 4,999,483 1.25% due 01/08/2018............ 5,000,000 4,998,785 1.27% due 01/30/2018............ 2,000,000 1,997,954 Federal Home Loan Bank FRS 1.30% (1 ML-0.19%) due 02/16/2018................... 9,000,000 9,000,000 1.37% (1 ML-0.13%) due 08/20/2018.................. 3,000,000 3,000,000 1.37% (1 ML-0.18%) due 02/23/2018.................. 7,000,000 7,000,000 1.39% (1 ML-0.12%) due 11/21/2018.................. 4,000,000 4,000,000 Federal Home Loan Mtg. Corp. 1.08% due 01/09/2018............. 6,000,000 5,998,560 Federal National Mtg. Assoc. 1.15% due 01/08/2018............. 5,200,000 5,198,837 1.18% due 01/03/2018............ 7,000,000 6,999,541 Federal National Mtg. Assoc. FRS 1.59% (3 ML-0.05%) due 03/21/2018................... 1,000,000 1,000,414 ------------ Total U.S. Government Agencies (amortized cost $109,743,791)... 109,743,791 ------------
Principal Value Security Description Amount (Note 2) ------------------------------------------------------------------------ U.S. Government Treasuries -- 6.4% United States Treasury Bills 0.99% due 01/11/2018......................... $2,000,000 $ 1,999,451 1.09% due 01/04/2018........................ 3,500,000 3,499,682 1.14% due 01/25/2018........................ 2,000,000 1,998,477 ------------ Total U.S. Government Treasuries (amortized cost $7,497,610)................. 7,497,610 ------------ Total Short-Term Investment Securities -- 100.1% (amortized cost $117,241,401)............... 117,241,401 ------------ REPURCHASE AGREEMENTS -- 0.3% Agreement with Fixed Income Clearing Corp., bearing interest at 0.20%, dated 12/29/2017, to be repurchased 01/02/2018 in the amount of $300,007, collateralized by $300,000 of United States Treasury Notes, bearing interest at 0.13% due 04/15/2021 and having an approximate value of $310,424. (cost $300,000).............................. 300,000 300,000 ------------ TOTAL INVESTMENTS -- (amortized cost $117,541,401)(1)............ 100.4% 117,541,401 Liabilities in excess of other assets......... (0.4) (509,271) ---------- ------------ NET ASSETS.................................... 100.0% $117,032,130 ========== ============
-------- + See Note 1 (1)At December 31, 2017, the cost of securities for federal income tax purposes was the same for book purposes. FRS -- Floating Rate Security The rates shown on FRS are the current interest rates at December 31, 2017 and unless noted otherwise, the dates shown are the original maturity dates. Index Legend 1 ML -- 1 Month USD LIBOR 3 ML -- 3 Month USD LIBOR The following is a summary of the inputs used to value the Fund's net assets as of December 31, 2017 (see Note 2):
Level 1 -- Unadjusted Level 2 -- Other Level 3 -- Significant Quoted Prices Observable Inputs Unobservable Inputs Total --------------------- ----------------- ---------------------- ------------ Assets: Investment at Value* Short-Term Investment Securities. $-- $117,241,401 $-- $117,241,401 Repurchase Agreements............ -- 300,000 -- 300,000 --- ------------ --- ------------ Total Investments at Value....... $-- $117,541,401 $-- $117,541,401 === ============ === ============
-------- * For a detailed presentation of investments, please refer to the Portfolio of Investments. The Fund's policy is to recognize transfers between Levels as of the end of the reporting period. There were no transfers between Levels during the reporting period. See Notes to Financial Statements 11 SunAmerica Money Market Funds, Inc. NOTES TO FINANCIAL STATEMENTS -- December 31, 2017 Note 1. Organization SunAmerica Money Market Funds, Inc. (the "Corporation") is an open-end diversified management investment company organized as a Maryland corporation. The Corporation consists of one series -- AIG Government Money Market Fund (the "Fund"). The Fund is advised by SunAmerica Asset Management, LLC ("SunAmerica" or "Adviser"), an indirect wholly-owned subsidiary of American International Group, Inc. ("AIG"). The investment objective of the Fund is to seek as high a level of current income as is consistent with liquidity and stability of capital. It does this by investing at least 99.5% of its total assets in cash, U.S. government securities, and/or repurchase agreements that are collateralized by U.S. government securities. On November 18, 2016, the Board of Directors approved a change in the name of the SunAmerica Government Money Market Fund to the AIG Government Money Market Fund effective February 28, 2017. SunAmerica Asset Management, LLC continues to serve as investment adviser of the Fund and retains its current name. In addition, there was no change in the Fund's investment goals or strategies, portfolio manager or ticker symbols in connection with the rebranding. The Fund currently offers two classes of shares: Class A and Class I. These classes within the Fund are presented in the Statement of Assets and Liabilities. The cost structure for each class is as follows: Class A shares-- Class A shares are available with no front-end sales charge. A 1.00% contingent deferred sales charge ("CDSC") is imposed on certain shares sold within one year of original purchase and a 0.50% CDSC is imposed on certain shares sold after the first year and within the second year after purchase, as described in the Fund's Prospectus. Class I shares-- Class I shares are offered at net asset value per share without any sales charge, exclusively to certain institutions. Each class of shares bears the same voting, dividend, liquidation and other rights and conditions, except as may otherwise be provided in the Fund's registration statement. Indemnifications: The Corporation's organizational documents provide current and former officers and directors with a limited indemnification against liabilities arising out of the performance of their duties to the Corporation. In addition, pursuant to Indemnification Agreements between the Corporation and each of the current directors who is not an "interested person," as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended (the "1940 Act"), of the Corporation (collectively, the "Disinterested Directors"), the Corporation provides the Disinterested Directors with a limited indemnification against liabilities arising out of the performance of their duties to the Corporation, whether such liabilities are asserted during or after their service as directors. In addition, in the normal course of business, the Corporation enters into contracts that contain the obligation to indemnify others. The Corporation's maximum exposure under these arrangements is unknown. Currently, however, the Corporation expects the risk of loss to be remote. Note 2. Significant Accounting Policies The preparation of financial statements in accordance with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates and those differences could be significant. The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of its financial statements: Security Valuation: In accordance with the authoritative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. In accordance with GAAP, fair value is defined as the price that the Fund would receive upon selling an asset or transferring a liability in a timely transaction to an independent third party in 12 SunAmerica Money Market Funds, Inc. NOTES TO FINANCIAL STATEMENTS -- December 31, 2017 -- (continued) the principal or most advantageous market. GAAP establishes a three-tier hierarchy to provide more transparency around the inputs used to measure fair value and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The three-tiers are as follows: Level 1 -- Unadjusted quoted prices in active markets for identical securities Level 2 -- Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, referenced indices, quoted prices in inactive markets, adjusted quoted prices in active markets, adjusted quoted prices on foreign equity securities that were adjusted in accordance with pricing procedures approved by the Board of Directors (the "Board"), etc.) Level 3 -- Significant unobservable inputs (includes inputs that reflect the Fund's own assumptions about the assumptions market participants would use in pricing the security, developed based on the best information available under the circumstances) Changes in valuation techniques may result in transfers in or out of an investment's assigned Level within the hierarchy. The methodology used for valuing investments is not necessarily an indication of the risk associated with investing in those investments and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to each security. The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is recently issued and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The summary of the Fund's assets and liabilities classified in the fair value hierarchy as of December 31, 2017, is reported on a schedule following the Portfolio of Investments. Portfolio securities are valued at amortized cost, which approximates market value, and are generally categorized as Level 2. The amortized cost method involves valuing a security at its cost on the date of purchase and thereafter assuming a constant amortization to maturity of any discount or premium. In accordance with Rule 2a-7 under the 1940 Act, the Board has adopted procedures intended to stabilize the Fund's net asset value per share at $1.00. These procedures include the determination, at such intervals as the Board deems appropriate and reasonable in light of current market conditions, of the extent, if any, to which the Fund's market-based net asset value per share deviates from the Fund's amortized cost per share. The calculation of such deviation is referred to as "Shadow Pricing." For purposes of these market-based valuations, securities for which market quotations are not readily available are fair valued, as determined pursuant to procedures adopted in good faith by the Board. The Board is responsible for the share valuation process and has adopted policies and procedures (the "PRC Procedures") for valuing the securities and other assets held by the Fund, including procedures for the fair valuation of securities and other assets for which market quotations are not readily available or are unreliable. The PRC Procedures provide for the establishment of a pricing review committee, which is responsible for, among other things, making certain determinations in connection with the Fund's fair valuation procedures. Securities for which market quotations are not readily available or the values of which may be significantly impacted by the occurrence of developments or significant events are generally categorized as Level 3. There is no single standard for making fair value determinations, which may result in prices that vary from those of other funds. 13 SunAmerica Money Market Funds, Inc. NOTES TO FINANCIAL STATEMENTS -- December 31, 2017 -- (continued) Master Agreements: The Fund has entered into Master Repurchase Agreements ("Master Agreements") with certain counterparties that govern repurchase agreement transactions. The Master Agreements may contain provisions regarding, among other things, the parties' general obligations, representations, agreements, collateral requirements and events of default. Collateral can be in the form of cash or securities as agreed to by the Fund and applicable counterparty. The Master Agreements typically specify certain standard termination events, such as failure of a party to pay or deliver, credit support defaults and other events of default. Upon the occurrence of an event of default, the other party may elect to terminate early and cause settlement of all repurchase agreement transactions outstanding pursuant to a particular Master Agreement, including the payment of any losses and costs resulting from such early termination, as reasonably determined by the terminating party. Any decision by one or more of the Fund's counterparties to elect early termination could cause the Fund to accelerate the payment of liabilities. Typically, the Master Agreement will permit a single net payment in the event of default. Note, however, that bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency or other events. As of December 31, 2017, the repurchase agreements held by the Fund are subject to master netting provisions. See the Portfolio of Investments and the Notes to Financial Statements for more information about the Fund's holdings in repurchase agreements. Repurchase Agreements: The Fund, along with other affiliated registered investment companies, pursuant to procedures adopted by the Board and applicable guidance from the Securities and Exchange Commission ("SEC"), may transfer uninvested cash balances into a single joint account, the daily aggregate balance of which is invested in one or more repurchase agreements collateralized by U.S. Treasury or federal agency obligations. In a repurchase agreement, the seller of a security agrees to repurchase the security at a mutually agreed-upon time and price, which reflects the effective rate of return for the term of the agreement. For repurchase agreements and joint repurchase agreements, the Fund's custodian takes possession of the collateral pledged for investments in such repurchase agreements. The underlying collateral is valued daily on a mark to market basis, plus accrued interest to ensure that the value, at the time the agreement is entered into, is equal to at least 102% of the repurchase price, including accrued interest. In the event of default of the obligation to repurchase, the Fund has the right to liquidate the collateral and apply the proceeds in satisfaction of the obligation. If the seller defaults and the value of the collateral declines or if bankruptcy proceedings are commenced with respect to the seller of the security, realization of the collateral by the Fund may be delayed or limited. Securities Transactions, Investment Income, Expenses, Dividends and Distributions to Shareholders: Security transactions are recorded on a trade date basis. Interest income, including the accretion of discount and amortization of premium, is accrued daily from settlement date, except when collection is not expected; dividend income is recorded on the ex-dividend date. Net investment income, other than class specific expenses, and realized and unrealized gains and losses are allocated daily to each class of shares based upon the relative net asset value of outstanding shares (or the value of the dividend-eligible shares, as appropriate) of each class of shares at the beginning of the day (after adjusting for current capital share activity of the respective class). Dividends from net investment income, if any, are normally declared daily and paid monthly. Capital gain distributions, if any, are paid annually. The Fund records dividends and distributions to its shareholders on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations, which may differ from GAAP. These "book/tax" differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the capital accounts at fiscal year end based on their federal tax-basis treatment; temporary differences do not require reclassification. Net assets are not affected by these reclassifications. The Fund is considered a separate entity for tax purposes and intends to comply with the requirements of the Internal Revenue Code, as amended, applicable to regulated investment companies and distribute all of its taxable income, including any net capital gains on investments, to its shareholders. The Fund also intends to distribute sufficient net investment income and net capital gains, if any, so that the Fund will not be subject to excise tax on undistributed income and gains. Therefore, no federal income tax or excise tax provision is required. 14 SunAmerica Money Market Funds, Inc. NOTES TO FINANCIAL STATEMENTS -- December 31, 2017 -- (continued) The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained, assuming examination by tax authorities. Management has analyzed the Fund's tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on returns filed for open tax years 2014 - 2016 or expected to be taken in the Fund's 2017 tax return. The Fund is not aware of any tax provisions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next twelve months. The Fund files U.S. federal and certain state income tax returns. With few exceptions, the Fund is no longer subject to U.S. federal and state tax examinations by tax authorities for tax returns ending before 2014. New Accounting Pronouncement: In October 2016, the SEC adopted amendments to rules under the 1940 Act ("final rules") intended to modernize the reporting and disclosure of information by registered investment companies. The final rules amend Regulation S-X and require funds to provide standardized, enhanced derivative disclosure in fund financial statements in a format designed for individual investors. The amendments to Regulation S-X also update the disclosures for other investments and investments in and advances to affiliates and amend the rules regarding the general form and content of fund financial statements. The compliance date for the amendments to Regulation S-X was August 1, 2017. All required changes have been made in accordance with Regulation S-X. Note 3. Investment Advisory and Management Agreement, Distribution and Service Agreement and Other Transactions With Affiliates The Fund has entered into an Investment Advisory and Management Agreement (the "Advisory Agreement") with SunAmerica. Under the Advisory Agreement, SunAmerica provides continuous supervision of the Fund and administers its corporate affairs, subject to general review by the Board. In connection therewith, SunAmerica furnishes the Fund with office facilities, maintains certain of its books and records, and pays the salaries and expenses of all personnel, including officers of the Fund who are employees of SunAmerica and its affiliates. The Fund will pay SunAmerica a monthly management fee at the following annual percentages, based on the average daily net assets of the Fund: 0.50% on the first $600 million; 0.45% on the next $900 million; and 0.40% over $1.5 billion. SunAmerica has contractually agreed to waive fees and/or reimburse expenses to the extent necessary to cap the Fund's annual fund operating expenses at 0.80% for Class I, of average net assets. For purposes of waived fee and/or reimbursed expense calculations, annual Fund operating expenses shall not include extraordinary expenses (i.e., expenses that are unusual in nature and/or infrequent in occurrence, such as litigation), or acquired fund fees and expenses, brokerage commissions and other transactional expenses relating to the purchase and sale of portfolio securities, interest, taxes and governmental fees, and other expenses not incurred in the ordinary course of the Fund's business. This fee waiver and expense reimbursement will continue in effect indefinitely, unless terminated by the Board, including a majority of the Disinterested Directors. For the year ended December 31, 2017, pursuant to the contractual expense limitations, SunAmerica waived fees and/or reimbursed expenses of $30,840 for Class I. SunAmerica may also voluntarily waive fees and/or reimburse expenses, including to avoid a negative yield on any class of the Fund. The voluntary waivers and/or reimbursements may be terminated at any time at the option of SunAmerica. The exact amount of the voluntary waivers and/or reimbursements may change on a day-to-day basis. There is no guarantee that the Fund will be able to avoid a negative yield. For the year ended December 31, 2017, SunAmerica voluntarily waived fees and/or reimbursed expenses of $176,186 and $2,409 for Class A and Class I, respectively. The Fund has entered into a Distribution Agreement with AIG Capital Services, Inc. ("ACS" or the "Distributor"), an affiliate of the Adviser. The Fund has adopted a Distribution Plan on behalf of its Class A shares (the "Plan") in accordance with the provisions of Rule 12b-1 under the 1940 Act. In adopting the Plan, the Board determined that there was a reasonable likelihood that the Plan would benefit the Fund and the shareholders of the respective class. The sales charge and distribution fees of a particular class will not be used to subsidize the sale of shares of any other class. 15 SunAmerica Money Market Funds, Inc. NOTES TO FINANCIAL STATEMENTS -- December 31, 2017 -- (continued) The Plan provides that the Class A shares of the Fund shall pay the Distributor an account maintenance fee at the annual rate of up to 0.15% of the aggregate average daily net assets of such class of shares for payments to compensate the Distributor and certain securities firms for account maintenance activities. In this regard, some payments are used to compensate broker-dealers with account maintenance fees in an amount up to 0.15% per year of the assets maintained in the Fund by its customers. Accordingly, ACS received fees (see Statement of Operations) based upon the aforementioned rates. In addition, in light of current market conditions, and in order to avoid a negative yield on Class A shares of the Fund, ACS has agreed to waive up to 0.15% of the fees it receives under the Plan. This voluntary waiver may be terminated at any time at the option of the Distributor without notice to shareholders. For the year ended December 31, 2017, ACS voluntarily waived $153,432 in account maintenance fees for Class A shares. ACS receives the proceeds of contingent deferred sales charges paid by investors in connection with certain redemptions of the Fund's Class A shares. ACS has advised the Fund that for the year ended December 31, 2017, the proceeds received from redemptions are as follows: Class A........................................... $237
The Fund has entered into a Service Agreement with SunAmerica Fund Services, Inc. ("SAFS"), an affiliate of the Adviser. Under the Service Agreement, SAFS performs certain shareholder account functions by assisting the Fund's transfer agent in connection with the services that it offers to the shareholders of the Fund. The Service Agreement, which permits the Fund to compensate SAFS for services rendered based upon the annual rate of 0.22% of average daily net assets, is approved annually by the Board. For the year ended December 31, 2017, the Fund incurred the following expenses which are included in transfer agent fees and expenses payable line in the Statement of Assets and Liabilities and in transfer agent fees and expenses in the Statement of Operations to compensate SAFS pursuant to the terms of the Service Agreement:
Payable at Expenses December 31, 2017 -------- ----------------- Class A........................................... $220,379 $19,777 Class I........................................... 26,969 2,243
Note 4. Federal Income Taxes The following details the tax basis of distributions as well as the components of distributable earnings. The tax basis components of distributable earnings differ from the amounts reflected in the Statement of Assets and Liabilities by temporary book/tax differences primarily arising from dividends payable.
Distributable Earnings Tax Distributions Tax Distributions ----------------------------------------- ------------------------------------- ------------------------------------- For the year ended December 31, 2017 For the year ended December 31, 2017 For the year ended December 31, 2016 ----------------------------------------- ------------------------------------- ------------------------------------- Long-term Gains/ Unrealized Long-Term Long-Term Ordinary Capital and Other Appreciation Ordinary Capital Ordinary Capital Income Losses (Depreciation) Income Gains Income Gains -------- ----------------- -------------- -------- --------- -------- --------- $3,030 $ -- $(5) $56,668 $ -- $57,244 $ --
For the year ended December 31, 2017, reclassifications were made to decrease accumulated net realized gain(loss) by $86 with an offsetting adjustments to undistributed net investment income of $86. The reclassifications arising from book/tax differences were due primarily to dividend redesignations. On December 22, 2017, the Tax Cuts and Jobs Act (the "Act") was signed into law. Certain provisions of the Act were effective upon enactment with the remainder becoming effective for tax years beginning after December 31, 2017. Management is currently evaluating the impact, if any, on the financial statements and the accompanying notes to financial statements. 16 SunAmerica Money Market Funds, Inc. NOTES TO FINANCIAL STATEMENTS -- December 31, 2017 -- (continued) Note 5. Capital Share Transactions Transactions in each class of shares of the Fund (at $1.00 per share) were as follows:
Class A Class I --------------------------- -------------------------- For the For the For the For the year ended year ended year ended year ended December 31, December 31, December 31, December 31, 2017 2016 2017 2016 ------------ ------------- ------------ ------------ Shares sold............. $ 49,647,887 $ 215,584,499 $ 10,510,780 $ 10,430,504 Reinvested dividends.... 38,824 55,878 17,432 1,219 Shares redeemed......... (46,982,542) (920,421,483) (11,766,573) (11,400,182) ------------ ------------- ------------ ------------ Net increase (decrease). $ 2,704,169 $(704,781,106) $ (1,238,361) $ (968,459) ============ ============= ============ ============
Note 6. Interfund Lending Agreement Pursuant to the exemptive relief granted by the SEC, the Fund is permitted to participate in an interfund lending program among investment companies advised by SunAmerica or an affiliate. The interfund lending program allows the participating Funds to borrow money from and lend money to each other for temporary or emergency purposes. An interfund loan will be made under this facility only if the participating Funds receive a more favorable interest rate than would otherwise be available from a typical bank for a comparable transaction. For the year ended December 31, 2017, the Fund did not participate in this program. 17 SunAmerica Money Market Funds, Inc. REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors of SunAmerica Money Market Funds, Inc. and Shareholders of AIG Government Money Market Fund Opinion on the Financial Statements We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of AIG Government Money Market Fund (formerly SunAmerica Government Money Market Fund) (the "Fund") as of December 31, 2017, the related statement of operations for the year ended December 31, 2017, the statement of changes in net assets for each of the two years in the period ended December 31, 2017, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2017 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of December 31, 2017, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2017 and the financial highlights for each of the five years in the period ended December 31, 2017 in conformity with accounting principles generally accepted in the United States of America. Basis for Opinion These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2017 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion. /s/ PricewaterhouseCoopers LLP Houston, Texas February 27, 2018 We have served as the auditor of one or more investment companies in the AIG Funds family of funds since 1984. 18 SunAmerica Money Market Funds, Inc. DIRECTORS AND OFFICERS INFORMATION -- December 31, 2017 -- (unaudited) The following table contains basic information regarding the Directors and Officers who oversee operations of the Fund and other investment companies within the Fund complex. Unless otherwise noted, the address of each Director and executive officer is Harborside 5, 185 Hudson Street, Suite 3300, Jersey City, NJ 07311.
Number of Position Term of Portfolios in Held With Office and Fund Complex Name, Address SunAmerica Length of Principal Occupations Overseen by Other Directorships and Age* Complex Time Served(4) During Past 5 Years Trustee(1) Held by Trustee(2) -------------------- ---------- -------------- --------------------------- ------------- -------------------------- Disinterested Trustees Dr. Judith L. Craven Trustee 2000-present Retired. 77 Director, Sysco Corp. Age: 72 (1996 to 2017); Director, Luby's, Inc. (1998 to present). William F. Devin Trustee 2001-present Retired. 77 None Age: 79 Richard W. Grant Trustee 2011-present Retired. 28 None Age: 72 Chairman of the Board Stephen J. Gutman Trustee 1984-present Senior Vice President 28 None Age: 74 and Associate Broker, Corcoran Group (real estate) (2002 to present); President, SJG Marketing Inc. (2009 to present). Interested Trustees Peter A. Harbeck(3) Trustee 1994-present President (1995 to 152 None Age: 63 present), CEO and Director, SunAmerica. (1992 to present); Director, AIG Capital Services, Inc. ("ACS") (1993 to present); Chairman, President and CEO, Advisor Group, Inc. (2004 to 2016).
19 SunAmerica Money Market Funds, Inc. DIRECTORS AND OFFICERS INFORMATION -- December 31, 2017 -- (unaudited) (continued)
Number of Position Term of Portfolios in Held With Office and Fund Complex Name, Address SunAmerica Length of Principal Occupations Overseen by Other Directorships and Age* Complex Time Served(4) During Past 5 Years Trustee(1) Held by Trustee(2) -------------------- ------------ -------------- ------------------------- ------------- ------------------- Officers John T. Genoy President 2007-present Chief Financial Officer, N/A N/A Age: 49 SunAmerica (2002 to present); Senior Vice President, SunAmerica (2003 to present); Chief Operating Officer, SunAmerica (2006 to present). Gregory N. Bressler Secretary 2005-present Senior Vice President N/A N/A Age: 51 and General Counsel, SunAmerica (2005 to present). Kathleen D. Fuentes Chief Legal 2013-present Vice President and N/A N/A Age: 48 Officer and Deputy General Counsel, Assistant SunAmerica (2006 to Secretary present). James Nichols Vice 2006-present Director, President and N/A N/A Age: 51 President CEO, ACS (2006 to present); Senior Vice President, SunAmerica (2002 to present). Kara Murphy Vice 2014-present Director of Research, N/A N/A Age: 45 President SunAmerica (2007 to 2013); Chief Investment Officer, SunAmerica (2013 to present). Gregory R. Kingston Treasurer 2014-present Vice President, N/A N/A Age: 51 SunAmerica (2001 to Address: present); Head of Mutual 2919 Allen Parkway Fund Administration, Houston, Texas 77019 SunAmerica (2014 to present). Shawn Parry Vice 2014-present Vice President (2014 to N/A N/A Age: 45 President present); Assistant Vice Address: and President, SunAmerica 2919 Allen Parkway Assistant (2005 to 2014). Houston, Texas 77019 Treasurer Donna McManus Vice 2014-present Vice President, N/A N/A Age: 56 President SunAmerica, (2014 to and present); Managing Assistant Director, BNY Mellon Treasurer (2009 to 2014).
20 SunAmerica Money Market Funds, Inc. DIRECTORS AND OFFICERS INFORMATION -- December 31, 2017 -- (unaudited) (continued)
Number of Position Term of Portfolios in Held With Office and Fund Complex Name, Address SunAmerica Length of Principal Occupations Overseen by Other Directorships and Age* Complex Time Served(4) During Past 5 Years Trustee(1) Held by Trustee(2) -------------------- ----------- -------------- -------------------------- ------------- ------------------- Christopher C. Joe Chief 2017-present Chief Compliance Officer, N/A N/A Age: 47 Compliance AIG Funds, Anchor Address: Officer Series Trust, Seasons 2919 Allen Parkway Series Trust, SunAmerica Houston, Texas 77019 Series Trust, VALIC Company I and VALIC Company II (2017 to present); Chief Compliance Officer, VALIC Retirement Services Company (2017 to present); Chief Compliance Officer, Invesco PowerShares (2012 to 2017); Chief Compliance Officer, Invesco Investment Advisers, LLC (2010 to 2013); U.S. Compliance Director, Invesco Ltd. (2006 to 2014); Deputy Chief Compliance Officer, Invesco Advisers, LLC (2014 to 2015). Matthew J. Hackethal Anti-Money 2006-present Acting Chief Compliance N/A N/A Age: 46 Laundering Officer, AIG Funds, Compliance Anchor Series Trust, Officer Seasons Series Trust, SunAmerica Series Trust, VALIC Company I and VALIC Company II (2016 to 2017); Chief Compliance Officer, SunAmerica (2006 to Present); AML Compliance Officer, AIG Funds, Anchor Series Trust, Seasons Series Trust, SunAmerica Series Trust, VALIC Company I and VALIC Company II (2006 to Present) and Vice President, SunAmerica (2011 to Present).
21 SunAmerica Money Market Funds, Inc. DIRECTORS AND OFFICERS INFORMATION -- December 31, 2017 -- (unaudited) (continued) -------- * The business address for each Trustee is the Harborside 5, 185 Hudson Street, Suite 3300, Jersey City, NJ 07311. (1) The "Fund Complex" means two or more registered investment companies that hold themselves out to investors as related companies for purposes of investment services or have a common investment adviser or an investment adviser that is an affiliated person of the Adviser. The "Fund Complex" includes the Fund (1 fund), SunAmerica Specialty Series (7 funds), SunAmerica Equity Funds (2 funds), SunAmerica Income Funds (3 funds), SunAmerica Series, Inc. (6 funds), Anchor Series Trust (8 portfolios), SunAmerica Senior Floating Rate Fund, Inc. (1 fund), SunAmerica Series Trust (55 portfolios), VALIC Company I (34 portfolios), VALIC Company II (15 funds), Seasons Series Trust (20 portfolios). (2) Directorships of companies required to report to the SEC under the Securities Exchange Act of 1934 (i.e., "public companies") or other investment companies registered under the 1940 Act. (3) Interested Trustee, as defined within the 1940 Act, because he is an officer and a director of the Adviser and a director of the principal underwriter of the Fund. (4) Trustees serve until their successors are duly elected and qualified. Each officer will hold office for an indefinite term, until the date he or she resigns or retires or until his/her successor is duly elected and qualifies. Additional information concerning the Trustees is contained in the Statement of Additional Information which is available, without charge, by calling (800) 858-8850. 22 SunAmerica Money Market Funds, Inc. SHAREHOLDER TAX INFORMATION -- (unaudited) Certain tax information regarding the Fund is required to be provided to shareholders based upon the Fund's income and distributions for the taxable year ended December 31, 2017. The information necessary to complete your income tax returns is included with your Form 1099-DIV, which will be mailed to you in early 2018. 23 [LOGO] AIG Funds Harborside 5 185 Hudson Street, Suite 3300 Jersey City, NJ 07311 Directors/Trustees Transfer Agent DISCLOSURE OF QUARTERLY Dr. Judith L. Craven State Street Bank and PORTFOLIO HOLDINGS William F. Devin Trust Company The Fund is required to Richard W. Grant P.O. Box 219373 file its complete Stephen J. Gutman Kansas City, MO 64141 schedule of portfolio Peter A. Harbeck Custodian holdings with the U.S. Officers State Street Bank and Securities and Exchange John T. Genoy, President Trust Company Commission for its first and Chief Executive One Lincoln St. and third fiscal quarters Officer Boston, MA 02111 on Form N-Q. The Fund's Gregory R. Kingston, VOTING PROXIES ON FUND Forms N-Q are available Treasurer PORTFOLIO SECURITIES on the U.S. Securities Kara Murphy, Vice A description of the and Exchange Commission's President policies and procedures website at James Nichols, Vice that the Funds use to http://www.sec.gov. You President determine how to vote can also review and Gregory N. Bressler, proxies relating to obtain copies of the Secretary securities held in the Forms N-Q at the U.S. Kathleen Fuentes, Chief Funds' portfolios which Securities and Exchange Legal Officer and is available in the Commission's Public Assistant Secretary Funds' Statement of Reference Room in Donna McManus, Vice Additional Information Washington, DC President and may be obtained without (information on the Assistant Treasurer charge upon request, by operation of the Public Shawn Parry, Vice calling (800) 858-8850. Reference Room may be President and This information is also obtained by calling Assistant Treasurer available from the EDGAR 1-800-SEC-0330). Matthew J. Hackethal, database on the U.S. PROXY VOTING RECORD ON Acting Chief Securities and Exchange FUND PORTFOLIO SECURITIES Compliance Officer, Commission's website at Information regarding how Anti-Money Laundering http://www.sec.gov. the Funds voted proxies Compliance Officer DELIVERY OF SHAREHOLDER relating to securities Investment Adviser DOCUMENTS held in the Fund's SunAmerica Asset The Funds have adopted a portfolio during the most Management, LLC policy that allows them recent twelve month Harborside 5 to send only one copy of period ended June 30 is 185 Hudson Street, Suite a Fund's prospectus, available, once filed 3300 proxy material, annual with the U.S. Securities Jersey City, NJ 07311 report and semi-annual and Exchange Commission, Distributor report (the "shareholder without charge, upon AIG Capital Services, documents") to request, by calling (800) Inc. shareholders with 858-8850 or on the U.S. Harborside 5 multiple accounts Securities and Exchange 185 Hudson Street, Suite residing at the same Commission's website at 3300 "household." This http://www.sec.gov. Jersey City, NJ 07311 practice is called This report is submitted Shareholder Servicing householding and reduces solely for the general Agent Fund expenses, which information of AIG Fund Services, Inc. benefits you and other shareholders of the Fund. Harborside 5 shareholders. Unless the Distribution of this 185 Hudson Street, Suite Funds receive report to persons other 3300 instructions to the than shareholders of the Jersey City, NJ 07311 contrary, you will only Fund is authorized only receive one copy of the in connection with a shareholder documents. currently effective The Funds will continue prospectus, setting forth to household the details of the Fund, shareholder documents which must precede or indefinitely, until we accompany this report. are instructed otherwise. If you do not wish to participate in householding, please contact Shareholder Services at (800) 858-8850 ext. 6010 or send a written request with your name, the name of your fund(s) and your account member(s) to AIG Funds c/o BFDS, P.O. Box 219186, Kansas City MO, 64121-9186. We will resume individual mailings for your ac-count within thirty (30) days of receipt of your request.
[GRAPHIC] Go Paperless!! Did you know that you have the option to receive your shareholder reports online? By choosing this convenient service, you will no longer receive paper copies of Fund documents such as annual reports, semi-annual reports, prospectuses and proxy statements in the mail. Instead, you are provided with quick and easy access to this information via the Internet. Why Choose Electronic Delivery? It's Quick -- Fund documents will be received faster than via traditional mail. It's Convenient -- Elimination of bulky documents from personal files. It's Cost Effective -- Reduction of your Fund's printing and mailing costs. To sign up for electronic delivery, follow these simple steps: 1 Go to www.aig.com/funds 2 Click on the link to "Go Paperless!!"
The email address you provide will be kept strictly confidential. Once your enrollment has been processed, you will begin receiving email notifications when anything you receive electronically is available online. You can return to www.aig.com/funds at any time to change your email address, edit your preferences or to cancel this service if you choose to resume physical delivery of your Fund documents. Please note - this option is only available to accounts opened through the Funds. For information on receiving this report online, see inside back cover. AIG Funds are advised by SunAmerica Asset Management, LLC (SAAMCo) and distributed by AIG Capital Services, Inc. (ACS), Member FINRA. Harborside 5, 185 Hudson Street, Suite 3300, Jersey City, NJ 07311, 800-858-8850. SAAMCo and ACS are members of American International Group, Inc. (AIG). This fund report must be preceded by or accompanied by a prospectus. Investors should carefully consider a Fund's investment objectives, risks, charges and expenses before investing. The prospectus, containing this and other important information, can be obtained from your financial adviser, the AIG Funds Sales Desk at 800-858-8850, ext. 6003, or at aig.com/funds. Read the prospectus carefully before investing. MMANN - 12/17 [LOGO] aig.com/funds Item 2. Code of Ethics SunAmerica Money Market Funds, Inc. ("the registrant") has adopted a Code of Ethics applicable to its Principal Executive and Principal Accounting Officers pursuant to Section 406 of the Sarbanes-Oxley Act of 2002 (the "Code"). During the fiscal year ended December 31, 2017, there were no reportable waivers or implicit waivers to a provision of the Code of Ethics that applies to the registrant's Principal Executive and Principal Accounting Officers (the "Covered Officers"). During the fiscal year ended December 31, 2017, however, there were reportable amendments to the Code that apply to the Covered Officers, and that relate to one or more of the items set forth in paragraph (b) of Item 2 of Form N-CSR. In particular, the Code has been amended to provide an enhanced description of the Covered Officers' responsibilities, which include a responsibility to observe the ethical principles contained in the Code. Item 3. Audit Committee Financial Expert. As of January 16, 2018, the registrant's Board of Directors has determined that Eileen A. Kamerick, a Director of the registrant, qualifies as an audit committee financial expert, as defined in Item 3(b) of Form N-CSR. Ms. Kamerick is considered to be independent for purposes of Item 3(a)(2) of Form N-CSR. Item 4. Principal Accountant Fees and Services. (a)--(d) Aggregate fees billed to the registrant for the last two fiscal years for professional services rendered by the registrant's principal accountant were as follows: 2016 2017 (a) Audit Fees................................. $45,443 $45,985 (b) Audit-Related Fees......................... $ 0 $ 0 (c) Tax Fees................................... $11,795 $12,139 (d) All Other Fees............................. $ 0 $ 0 Audit Fees include amounts related to the audit of the registrant's annual financial statements and services normally provided by the principal accountant in connection with statutory and regulatory filings. Tax fees principally include tax compliance, tax advice, tax planning and preparation of tax returns. Aggregate fees billed to the investment adviser and Adviser Affiliates (as defined below in Item 4(e)) that are required to be pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X for the last two fiscal years for services rendered by the registrant's principal accountant were as follows: 2016 2017 (b) Audit-Related Fees.................... $0 $0 (c) Tax Fees.............................. $0 $0 (d) All Other Fees........................ $0 $0 (e) (1) The registrant's audit committee pre-approves all audit services provided by the registrant's principal accountant for the registrant and all non-audit services provided by the registrant's principal accountant for the registrant, its investment adviser and any entity controlling, controlled by, or under common control with the investment adviser ("Adviser Affiliates") that provides ongoing services to the registrant, if the engagement by the investment adviser or Adviser Affiliate relates directly to the operations and financial reporting of the registrant. The audit committee has not presently established any pre-approval policies and procedures that permit the pre-approval of the above services other than by the full audit committee. Certain de minimis exceptions are allowed for non-audit services in accordance with Rule 2-01(c)(7)(i)(C) of Regulation S-X as set forth in the registrant's audit committee charter. (2) No services included in (b)-(d) above in connection with fees billed to the registrant or the investment adviser or Adviser Affiliates were approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X. (f) Not applicable. (g) The aggregate fees billed for the most recent fiscal year and the preceding fiscal year by the registrant's principal accountant for non-audit services rendered to the registrant, its investment adviser, and Adviser Affiliates that provide ongoing services to the registrant for 2016 and 2017 were $11,795 and $12,139 respectively. (h) Not applicable. Item 5. Audit Committee of Listed Registrants. Not applicable. Item 6. Investments. Included in Item 1 to the Form. Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. Not applicable. Item 8. Portfolio Managers of Closed-End Management Investment Companies. Not applicable. Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers. Not applicable. Item 10. Submission of Matters to a Vote of Security Holders. There were no material changes to the procedures by which shareholders may recommend nominees to the registrant's Board of Directors that were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a - 101)), or this Item 10. Item 11. Controls and Procedures. (a) An evaluation was performed within 90 days of the filing of this report, under the supervision and with the participation of the registrant's management, including the President and Treasurer, of the effectiveness of the design and operation of the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (17 CFR 270.30a-3(c))). Based on that evaluation, the registrant's management, including the President and Treasurer, concluded that the registrant's disclosure controls and procedures are effective. (b) There was no change in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940 (17 CFR 270.30a-3(d))) that occurred during the registrant's last fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment companies. Not Applicable. Item 13. Exhibits. (a) (1) Code of Ethics applicable to its Principal Executive and Principle Accounting Officers pursuant to Section 406 of the Sarbanes-Oxley Act of 2002 attached hereto as Exhibit 99.406. Code of Ethics. (2) Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) attached hereto as Exhibit 99.CERT. (3) Not applicable. (b) Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) and Section 906 of the Sarbanes-Oxley Act of 2002 attached hereto as Exhibit 99.906.CERT. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. SunAmerica Money Market Funds, Inc. By: /s/ John T. Genoy -------------------------- John T. Genoy President Date: March 9, 2018 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/ John T. Genoy -------------------------- John T. Genoy President Date: March 9, 2018 By: /s/ Gregory R. Kingston -------------------------- Gregory R. Kingston Treasurer Date: March 9, 2018 EX-99.CODE ETH 2 d520402dex99codeeth.txt CODE OF ETHICS Exhibit 99. CODEETH ANCHOR SERIES TRUST SUNAMERICA EQUITY FUNDS SUNAMERICA INCOME FUNDS SUNAMERICA MONEY MARKET FUNDS, INC. SUNAMERICA SENIOR FLOATING RATE FUND, INC. SUNAMERICA SERIES, INC. SUNAMERICA SPECIALTY SERIES (collectively, the "Funds") CODE OF ETHICS FOR PRINCIPAL EXECUTIVE AND PRINCIPAL ACCOUNTING OFFICERS I. Introduction The Boards of Directors/Trustees of the Funds (the "Boards") have adopted this Code of Ethics (this "Code") pursuant to Section 406 of the Sarbanes-Oxley Act applicable to the Funds' Principal Executive Officer and Principal Accounting Officer (the "Covered Officers" as set forth in Exhibit A) for the purpose of deterring wrongdoing and promoting: . Honest and ethical conduct, including the ethical handling of conflicts of interest between personal and professional relationships; . Full, fair, accurate, timely and understandable disclosure; . Compliance with applicable laws and governmental rules and regulations; . The prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and . Accountability for adherence to the Code. Each Covered Officer must comply with applicable law. Each Covered Officer also has a responsibility to conduct himself or herself in an honest and ethical manner and to adhere to a high standard of business ethics. Each Covered Officer has leadership responsibilities that include promoting a culture of high ethical standards and a commitment to compliance, maintaining a work environment that encourages the internal reporting of compliance concerns and promptly addressing compliance concerns. Each Covered Officer should also be sensitive to situations that may give rise to conflicts of interest. II. Honest and Ethical Conduct a. Honesty, Diligence, and Professional Responsibility Covered Officers are expected to observe both the form and the spirit of the ethical principles contained in this Code. In particular, Covered Officers must perform their duties and responsibilities for the Funds: . with honesty, diligence, and a commitment to professional and ethical responsibility; . carefully, thoroughly and in a timely manner; and . in conformity with applicable professional and technical standards. b. Ethical Handling of Actual and Apparent Conflicts of Interest A "conflict of interest" occurs when a Covered Officer's private interest improperly interferes with the interests of, or his or her service to, a Fund. For example, a conflict of interest would arise if a Covered Officer, or a member of his or her immediate family, receives improper personal benefits as a result of his or her position with the Fund. Certain conflicts of interest arise out of the relationships between Covered Officers and the Funds and already are subject to conflict of interest provisions in the Investment Company Act of 1940, as amended (the "Investment Company Act") and the Investment Advisers Act of 1940, as amended (the "Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the Funds because of their status as "affiliated persons" of the Funds. The compliance programs and procedures of the Funds and the Funds' investment adviser, SunAmerica Asset Management, LLC ("SAAMCo"), are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code. Although typically not presenting an opportunity for improper personal benefit, conflicts may arise from, or as a result of, the contractual relationship between, the Funds and SAAMCo, of which the Covered Officers may also be officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the Funds or for SAAMCo, or for both), be involved in establishing policies and implementing decisions that will have different effects on the Funds and SAAMCo. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the Funds and SAAMCo, and is consistent with the performance by the Covered Officers of their duties as officers of the Funds. Thus, if performed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, such activities will be deemed to have been handled ethically. In addition, it is recognized by the Boards that the Covered Officers may also be officers or employees of other investment companies advised by SAAMCo. In particular, each Covered Officer must: 2 . Not use his or her personal influence or personal relationships to influence investment decisions or financial reporting by a Fund whereby the Covered Officer would benefit personally to the detriment of the Fund; . Not cause a Fund to take action, or fail to take action, for the individual personal benefit of the Covered Officer rather than the benefit of the Fund; and . Report at least annually to the Funds' Ethics Committee any material transaction or relationship that could reasonably be expected to give rise to a conflict of interest. There are certain potential conflict of interest situations that should be discussed with the Ethics Committee if material. Examples of these include: . Service as a director on the board of any company; . The receipt of any non-nominal gifts; . The receipt of any entertainment from any company with which a Fund has current or prospective business dealings unless such entertainment is business-related, reasonable in cost, appropriate as to time and place, and not so frequent as to raise any question of impropriety; . Any ownership interest in, or any consulting or employment relationship with, any of the Funds' service providers, other than SAAMCo, the Funds' principal underwriter or any affiliated person thereof; . A direct or indirect financial interest in commissions, transaction charges or spreads paid by a Fund for effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Covered Officer's employment, such as compensation or equity ownership. c. Conduct in the Preparation of Financial Statements Covered Officers must not knowingly make any misrepresentations regarding the Funds' financial statements or any facts used in the preparation of the Funds' financial statements. This section is intended to prohibit: . making, or permitting or directing another to make, materially false or misleading entries in the Funds' financial statements or records; . failing to correct the Funds' financial statements or records that are materially false or misleading; and . signing, or permitting or directing another to sign, a document containing materially false or misleading financial information. 3 d. Obligations to the Independent Auditor of the Funds In dealing with the Funds' independent auditor, Covered Officers must be candid and not knowingly misrepresent facts or knowingly fail to disclose material facts, and must respond to specific inquiries and requests by the Funds' independent auditor. Covered Officers must not take any action, or direct any person to take any action, to fraudulently influence, coerce, manipulate or mislead the Funds' independent auditor in the performance of an audit of the Funds' financial statements for the purpose of rendering such financial statements materially misleading. III. Disclosure and Compliance . Each Covered Officer will familiarize himself or herself with the disclosure requirements generally applicable to the Funds; . Each Covered Officer will not knowingly misrepresent, or cause others to misrepresent, facts about the Funds to others, whether within or outside the Funds, including to the Boards and auditors, or to governmental regulators and self-regulatory organizations; . Each Covered Officer will, to the extent appropriate within his or her area of responsibility, consult with other officers and employees of the Funds and SAAMCo with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents that the Funds file with, or submit to, the SEC and in other public communications made by the Funds; and . It is the responsibility of each Covered Officer to promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations. IV. Reporting and Accountability Each Covered Officer must: . Upon adoption of the Code (or thereafter as applicable, upon becoming a Covered Officer), affirm in writing to the Boards that he or she has received, read and understands the Code; . Annually thereafter affirm to the Boards that he or she has complied with the requirements of the Code; . Not retaliate against any other Covered Officer or affiliated person of the Funds for reports of potential violations of this Code, provided the reports are made in good faith; and 4 . Notify the Ethics Committee promptly if he or she knows of any violation of this Code. Failure to do so is itself a violation of this Code. The Ethics Committee is responsible for applying this Code to specific situations in which questions are presented to it and has the authority to interpret this Code in any particular situation. The Ethics Committee will also consider waivers sought by the Covered Officers. The Funds will act according to the following procedures in investigating and enforcing this Code: . The Ethics Committee will take all appropriate action to investigate any potential violations reported to it; . If, after such investigation, the Ethics Committee believes that no violation has occurred, the Ethics Committee is not required to take any further action; . If the Ethics Committee determines that a violation has occurred, it will consider appropriate action, which may include review of, and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of SAAMCo or its board; or a recommendation to dismiss the Covered Officer; . The Ethics Committee will be responsible for granting waivers, as appropriate; . The Ethics Committee will inform the Boards of violations or waivers of this Code; and . Any changes to or waivers of this Code will, to the extent required, be disclosed as provided by SEC rules. V. Other Policies and Procedures This Code shall be the sole Code of Ethics adopted by the Funds for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to investment companies thereunder. Insofar as other policies or procedures of the Funds, SAAMCo, the Funds' principal underwriter or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code. The Code of Ethics of the Funds, SAAMCo and the Funds' principal underwriter, under Rule 17j-1 of the Investment Company Act, and SAAMCo's more detailed policies and procedures set forth in the SAAMCo Compliance Procedures Manual are separate requirements applying to Covered Officers and others, and are not part of this Code. 5 VI. Amendments Any amendments to this Code, other than amendments to Exhibit A, must be approved or ratified by a majority vote of the Boards. VII. Confidentiality All reports and records prepared or maintained pursuant to this Code shall be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Funds, the Ethics Committee, SAAMCo and the Boards and their independent counsel. VIII. Internal Use The Code is intended solely for internal use by the Funds and does not constitute an admission, by or on behalf of the Funds, as to any fact, circumstance or legal conclusion. Date: January 1, 2017 6 Exhibit A John T. Genoy, Principal Executive Officer Gregory R. Kingston, Principal Accounting Officer 7 EX-99.CERT 3 d520402dex99cert.txt SECTION 302 CERTIFICATION Exhibit 99. CERT CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT I, John T. Genoy, certify that: 1. I have reviewed this report on Form N-CSR of SunAmerica Money Market Funds, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: March 8, 2018 /s/ John T. Genoy ------------------- John T. Genoy President CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT I, Gregory R. Kingston, certify that: 1. I have reviewed this report on Form N-CSR of SunAmerica Money Market Funds, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: March 8, 2018 /s/ Gregory R. Kingston ------------------------ Gregory R. Kingston Treasurer EX-99.906CERT 4 d520402dex99906cert.txt SECTION 906 CERTIFICATION Exhibit 99.906.CERT CERTIFICATIONS PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT John T. Genoy, President, and Gregory R. Kingston, Treasurer of SunAmerica Money Market Funds, Inc. (the "registrant"), each certify to the best of his knowledge that: 1. The attached Form N-CSR report of the registrant fully complies with the requirements of Sections 13(a) and 15(d) of the Securities Exchange Act of 1934; and 2. The information contained in such N-CSR report fairly represents, in all material respects, the financial conditions and results of operations of the Registrant as of, and for, the periods presented in the report. Dated: March 8, 2018 /s/ John T. Genoy --------------- John T. Genoy President /s/ Gregory R. Kingston -------------------- Gregory R. Kingston Treasurer