-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, C/CXaw9hOwt9IXYloFwer0vQ4CwFow5w4tgCscNJrCa8jFagySuEXP7Lf3Ar472a U2HHWr+xleXFQTVuIfXVSw== 0000890089-03-000007.txt : 20030909 0000890089-03-000007.hdr.sgml : 20030909 20030908180641 ACCESSION NUMBER: 0000890089-03-000007 CONFORMED SUBMISSION TYPE: N-CSR PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20030630 FILED AS OF DATE: 20030909 EFFECTIVENESS DATE: 20030909 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MONEY MARKET PORTFOLIOS CENTRAL INDEX KEY: 0000890089 IRS NUMBER: 943166246 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: N-CSR SEC ACT: 1940 Act SEC FILE NUMBER: 811-07038 FILM NUMBER: 03886767 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-312-2000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 N-CSR 1 tmmpncsrform.txt 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 811-7038 -------- THE MONEY MARKET PORTFOLIOS --------------------------- (Exact name of registrant as specified in charter) ONE FRANKLIN PARKWAY, SAN MATEO, CA 94403-1906 (Address of principal executive offices) (Zip code) MURRAY L. SIMPSON, ONE FRANKLIN PARKWAY, SAN MATEO, CA 94403-1906 ----------------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: (650) 312-2000 -------------- Date of fiscal year end: 6/30 ---- Date of reporting period: 6/30/03 ------- ITEM 1. REPORTS TO STOCKHOLDERS. ANNUAL REPORT 29 The Money Market Portfolios FINANCIAL HIGHLIGHTS THE MONEY MARKET PORTFOLIO
------------------------------------------------------------------- YEAR ENDED JUNE 30, ------------------------------------------------------------------- 2003 2002 2001 2000 1999 Per share operating performance (for a share outstanding throughout the year) Net asset value, beginning of year ..................... $1.00 $1.00 $1.00 $1.00 $1.00 ------------------------------------------------------------------- Income from investment operations - net investment income ................................................ .014 .026 .059 .056 .051 Less distributions from net investment income .......... (.014) (.026) (.059) (.056) (.051) ------------------------------------------------------------------- Net asset value, end of year ........................... $1.00 $1.00 $1.00 $1.00 $1.00 ------------------------------------------------------------------- Total return a ......................................... 1.41% 2.63% 6.08% 5.75% 5.18% RATIOS/SUPPLEMENTAL DATA Net assets, end of year (000's) ........................ $5,331,200 $4,734,196 $4,490,919 $4,144,043 $3,672,404 Ratios to average net assets: Expenses .............................................. .15% .15% .15% .15% .15% Expenses excluding waiver by affiliate ................ .15% .16% .16% .16% .15% Net investment income ................................. 1.39% 2.56% 5.91% 5.65% 5.04%
a Total return is not annualized for periods less than one year. 30 |See notes to financial statements.|Annual Report The Money Market Portfolios STATEMENT OF INVESTMENTS, JUNE 30, 2003
- --------------------------------------------------------------------------------------------------------------------- THE MONEY MARKET PORTFOLIO PRINCIPAL AMOUNT VALUE - --------------------------------------------------------------------------------------------------------------------- CERTIFICATES OF DEPOSIT 34.3% Bank of America NT & SA, Charlotte Branch, 1.24%, 10/20/03 - 10/21/03 .......... $ 100,000,000 $ 100,000,000 Bank of Nova Scotia, Portland Branch, 1.03% - 1.22%, 7/14/03 - 9/24/03 ......... 150,000,000 150,000,000 Banque Nationale De Paris, New York Branch, 1.02% - 1.35%, 9/26/03 - 4/13/04 ... 125,000,000 125,000,603 Barclays Bank PLC, New York Branch, 1.24%, 8/04/03 - 10/31/03 .................. 125,000,000 125,001,872 Bayerische Landesbank Girozen, New York Branch, 1.21% - 1.30%, 7/16/03 - 7/18/03 130,000,000 130,001,056 Credit Agricole, New York Branch, .98% - 1.34%, 9/02/03 - 10/07/03 ............. 150,000,000 150,002,221 Danske Bank AS, New York Branch, 1.22%, 7/11/03 ................................ 50,000,000 50,000,139 Dexia Bank, New York Branch, .905% - 1.20%, 7/22/03 - 8/12/03 .................. 100,000,000 100,000,728 Landesbank Hessen Thueringen Giro., New York Branch, 1.205%, 11/17/03 .......... 50,000,000 50,006,570 Lloyds Bank PLC, New York Branch, .90% - 1.19%, 9/04/03 - 9/23/03 .............. 75,000,000 75,000,450 Rabobank Nederland NV, New York Branch, 1.09%, 9/05/03 ......................... 75,000,000 75,001,371 Societe Generale North America, New York Branch, 1.24%, 7/16/03 ................ 50,000,000 49,999,988 State Street Corp., Boston Branch, 1.14%, 10/02/03 - 10/03/03 .................. 100,000,000 100,000,000 Svenska Handelsbanken, New York Branch, 1.25% - 1.29%, 7/15/03 - 7/21/03 ....... 125,000,000 125,001,353 Toronto Dominion Bank, New York Branch, 1.21%, 7/25/03 ......................... 75,000,000 75,000,499 UBS AG, Chicago Branch, .92% - 1.305%, 9/26/03 - 4/16/04 ....................... 150,000,000 150,001,205 Wells Fargo Bank, NA, San Francisco Branch, 1.03% - 1.21%, 7/23/03 - 8/29/03 ... 200,000,000 200,000,000 --------------- TOTAL CERTIFICATES OF DEPOSIT (COST $1,830,018,055) ............................ 1,830,018,055 --------------- Commercial Paper 34.8% a American International Group I, .96% - 1.20%, 7/01/03 - 8/26/03 ................ 31,000,000 30,977,600 a ANZ (Delaware) Inc., .99% - 1.24%, 7/07/03 - 8/18/03 ........................... 125,000,000 124,918,500 a Bank of Montreal, 1.20%, 7/10/03 - 7/11/03 ..................................... 100,000,000 99,969,167 a Barclays U.S. Funding Corp., 1.04%, 8/25/03 .................................... 11,150,000 11,132,284 a Commonwealth Bank of Australia, 1.21% - 1.22%, 7/08/03 - 7/14/03 ............... 125,000,000 124,963,778 a Danske Corp., .92%, 9/19/03 .................................................... 25,000,000 24,948,889 a Den Danske Corp. Inc., 1.12% - 1.21%, 7/08/03 - 9/08/03 ........................ 75,000,000 74,933,729 a Dupont De Nemours Inc., .95% - 1.18%, 7/21/03 - 9/08/03 ........................ 113,650,000 113,512,041 a General Electric Capital Corp., .91% - 1.26%, 7/23/03 - 9/30/03 ................ 165,100,000 164,776,900 a Hbos Treasury Services, .97% - 1.22%, 7/17/03 - 9/19/03 ........................ 175,000,000 174,705,306 a Internationale Ned. U.S. Funding, 1.02% - 1.23%, 7/28/03 - 9/25/03 ............. 150,000,000 149,807,847 a Merck & Co Inc., .95%, 8/20/03 ................................................. 50,000,000 49,934,028 a Novartis Finance Corp., 1.19%, 7/30/03 ......................................... 50,000,000 49,952,069 a Province of British Columbia, 1.18%, 8/13/03 ................................... 23,000,000 22,967,583 a Societe Generale NA Inc., .97% - 1.24%, 8/01/03 - 9/16/03 ...................... 110,211,000 110,058,940 a Toronto Dominion Holdings, 1.05%, 8/11/03 ...................................... 50,000,000 49,940,208 a Total Fina Elf Capital, 1.30%, 7/01/03 ......................................... 200,000,000 200,000,000 a Toyota Motor Credit Corp., .91% - 1.20%, 7/10/03 - 7/23/03 ..................... 128,297,000 128,235,395 a Westdeutsche Landesbank, .90% - 1.19%, 8/08/03 - 9/12/03 ....................... 50,000,000 49,922,972 a Westpac Capital Corp., 1.21%, 10/09/03 - 10/10/03 .............................. 100,000,000 99,662,208 --------------- Total Commercial Paper (Cost $1,855,319,444) ................................... 1,855,319,444 --------------- U.S. Government Agency Securities 21.5% Federal Home Loan Bank, .95% - 1.165%, 7/01/03 - 8/27/03 ....................... 50,355,000 50,313,319 Federal Home Loan Mortgage Corp., 1.04% - 1.39%, 7/28/03 - 12/31/03 ............ 485,000,000 483,806,960 Federal National Mortgage Association, 1.08% - 1.26%, 7/01/03 - 10/08/03 ....... 610,778,000 609,915,681 --------------- TOTAL U.S. GOVERNMENT AGENCY SECURITIES (COST $1,144,035,960) .......................................................... 1,144,035,960 --------------- TOTAL INVESTMENTS BEFORE REPURCHASE AGREEMENTS (COST $4,829,373,459) .......................................................... 4,829,373,459 ---------------
Annual Report| 31 The Money Market Portfolios STATEMENT OF INVESTMENTS, JUNE 30, 2003 (CONTINUED)
- --------------------------------------------------------------------------------------------------------------------------- THE MONEY MARKET PORTFOLIO PRINCIPAL AMOUNT VALUE - --------------------------------------------------------------------------------------------------------------------------- REPURCHASE AGREEMENTS 10.3% b ABN AMRO Bank, NV, New York Branch, 1.30%, 7/01/03 (Maturity Value $180,006,500) ...................................................... $180,000,000 $ 180,000,000 Collateralized by U.S. Government Agency Coupons b Deutsche Bank Securities Inc., 1.07%, 7/01/03 (Maturity Value $93,917,791) ....................................................................... 93,915,000 93,915,000 Collateralized by U.S. Treasury Notes b Morgan Stanley & Co. Inc., 1.03%, 7/01/03 (Maturity Value $93,917,687) ....................................................................... 93,915,000 93,915,000 Collateralized by U.S. Treasury Notes b UBS Securities LLC, 1.25%, 7/01/03 (Maturity Value $180,006,250) ................... 180,000,000 180,000,000 Collateralized by U.S. Government Agency Coupons ---------------- TOTAL REPURCHASE AGREEMENTS (COST $547,830,000) .................................... 547,830,000 ---------------- TOTAL INVESTMENTS (COST $5,377,203,459) 100.9% ..................................... 5,377,203,459 OTHER ASSETS, LESS LIABILITIES (.9)% ............................................... (46,003,746) ---------------- NET ASSETS 100.0% .................................................................. $ 5,331,199,713 ----------------
aSecurities are traded on a discount basis; the rates shown are the discount rates at the time of purchase by the Portfolio. bSee Note 1(b) regarding repurchase agreements. 32 |See notes to financial statements.|Annual Report The Money Market Portfolios FINANCIAL HIGHLIGHTS THE U.S. GOVERNMENT SECURITIES MONEY MARKET PORTFOLIO
-------------------------------------------------------- YEAR ENDED JUNE 30, 2003 2002 2001 2000 1999 -------------------------------------------------------- Per share operating performance (for a share outstanding throughout the year) Net asset value, beginning of year ............................... $1.00 $1.00 $1.00 $1.00 $1.00 -------------------------------------------------------- Income from investment operations - net investment income ........ .013 .024 .056 .054 .049 Less distributions from net investment income .................... (.013) (.024) (.056) (.054) (.049) -------------------------------------------------------- Net asset value, end of year ..................................... $1.00 $1.00 $1.00 $1.00 $1.00 -------------------------------------------------------- Total return a ................................................... 1.34% 2.43% 5.75% 5.48% 4.97% RATIOS/SUPPLEMENTAL DATA Net assets, end of year (000's) .................................. $201,758 $226,676 $186,718 $221,993 $258,458 Ratios to average net assets: Expenses ........................................................ .15% .15% .15% .15% .15% Expenses excluding waiver by affiliate .......................... .16% .16% .16% .16% .15% Net investment income ........................................... 1.34% 2.33% 5.63% 5.36% 4.84%
aTotal return is not annualized for periods less than one year. Annual Report|See notes to financial statements.| 33 The Money Market Portfolios STATEMENT OF INVESTMENTS, JUNE 30, 2003
- -------------------------------------------------------------------------------------------------------------------------- THE U.S. GOVERNMENT SECURITIES MONEY MARKET PORTFOLIO PRINCIPAL AMOUNT VALUE - -------------------------------------------------------------------------------------------------------------------------- GOVERNMENT SECURITIES 48.5% U.S. Treasury Bill, 7/03/03 ....................................................... $ 5,000,000 $ 4,999,707 U.S. Treasury Bill, 7/10/03 ....................................................... 5,000,000 4,998,469 U.S. Treasury Bill, 7/31/03 ....................................................... 5,000,000 4,995,146 U.S. Treasury Bill, 8/21/03 ....................................................... 5,000,000 4,992,775 U.S. Treasury Bill, 8/28/03 ....................................................... 5,000,000 4,991,139 U.S. Treasury Bill, 9/04/03 ....................................................... 10,000,000 9,980,410 U.S. Treasury Bill, 9/11/03 ....................................................... 10,000,000 9,981,600 U.S. Treasury Bill, 10/09/03 ...................................................... 10,000,000 9,968,056 U.S. Treasury Bill, 10/16/03 ...................................................... 5,000,000 4,987,517 U.S. Treasury Bill, 11/20/03 ...................................................... 5,000,000 4,979,883 U.S. Treasury Bill, 12/04/03 ...................................................... 10,000,000 9,959,592 U.S. Treasury Bill, 12/18/03 ...................................................... 5,000,000 4,978,750 U.S. Treasury Bill, 1/02/04 ....................................................... 5,000,000 4,976,363 U.S. Treasury Note, 2.75%, 9/30/03 ................................................ 5,000,000 5,016,645 U.S. Treasury Note, 3.25%, 12/31/03 ............................................... 5,000,000 5,049,707 U.S. Treasury Note, 3.38%, 4/30/04 ................................................ 3,000,000 3,052,187 --------------- Total Government Securities (Cost $97,907,946)..................................... 97,907,946 --------------- REPURCHASE AGREEMENTS 56.4% a ABN AMRO Bank, N.V., New York Branch, 1.08%, 7/01/03 (Maturity Value $10,000,300) ...................................................... 10,000,000 10,000,000 Collateralized by U.S. Treasury Notes a Banc of America Securities LLC, .97%, 7/01/03 (Maturity Value $7,000,189) ....................................................................... 7,000,000 7,000,000 Collateralized by U.S. Treasury Notes a Barclays Capital Inc., 1.08%, 7/01/03 (Maturity Value $7,000,210) ................. 7,000,000 7,000,000 Collateralized by U.S. Treasury Notes a Bear, Stearns & Co. Inc., 1.08%, 7/01/03 (Maturity Value $7,000,210) .............. 7,000,000 7,000,000 Collateralized by U.S. Treasury Notes a Deutsche Bank Securities Inc., 1.07%, 7/01/03 (Maturity Value $29,395,874)....................................................................... 29,395,000 29,395,000 Collateralized by U.S. Treasury Notes a Dresdner Kleinwort Wasserstein Securities LLC, 1.00%, 7/01/03 (Maturity Value $7,000,194) ....................................................... 7,000,000 7,000,000 Collateralized by U.S. Treasury Bonds a Goldman, Sachs, & Co., 1.07%, 7/01/03 (Maturity Value $7,000,208) ................ 7,000,000 7,000,000 Collateralized by U.S. Treasury Bonds a Morgan Stanley & Co. Inc., 1.03%, 7/01/03 (Maturity Value $29,390,841) ..................................................................... 29,390,000 29,390,000 Collateralized by U.S. Treasury Notes a UBS Securities LLC, 1.08%, 7/01/03 (Maturity Value $10,000,300) .................. 10,000,000 10,000,000 Collateralized by U.S. Treasury Bills --------------- TOTAL REPURCHASE AGREEMENTS (COST $113,785,000) ................................... 113,785,000 --------------- TOTAL INVESTMENTS (COST $211,692,946) 104.9% ...................................... 211,692,946 OTHER ASSETS, LESS LIABILITIES (4.9%) ............................................ (9,934,917) --------------- NET ASSETS 100.0% ................................................................. $ 201,758,029 ---------------
aSee Note 1(b) regarding repurchase agreements. 34 |See notes to financial statements.|Annual Report The Money Market Portfolios FINANCIAL STATEMENTS STATEMENTS OF ASSETS AND LIABILITIES June 30, 2003
---------------------------------- THE U.S. GOVERNMENT THE SECURITIES MONEY MARKET MONEY MARKET PORTFOLIO PORTFOLIO ---------------------------------- Assets: Investments in securities, at value and cost ....................................... $ 4,829,373,459 $ 97,907,946 Repurchase agreements, at value and cost ........................................... 547,830,000 113,785,000 Cash ............................................................................... -- 5,321 Interest receivable 3,422,596 55,391 ---------------------------------- Total assets 5,380,626,055 211,753,658 Liabilities: Payables: Investment securities purchased ................................................... -- 9,956,213 Affiliates ........................................................................ 649,120 20,470 Funds advanced by custodian ........................................................ 48,717,550 -- Other liabilities .................................................................. 59,672 18,946 ---------------------------------- Total liabilities ............................................................. 49,426,342 9,995,629 ---------------------------------- Net assets, at value ................................................................ $ 5,331,199,713 $201,758,029 ---------------------------------- Shares outstanding .................................................................. 5,331,199,713 201,758,029 ---------------------------------- Net asset value per share ........................................................... $1.00 $1.00 ----------------------------------
Annual Report|See notes to financial statements.| 35 The Money Market Portfolios FINANCIAL STATEMENTS (CONTINUED) STATEMENTS OF OPERATIONS for the year ended June 30, 2003
------------------------------ THE U.S. GOVERNMENT THE SECURITIES MONEY MARKET MONEY MARKET PORTFOLIO PORTFOLIO ------------------------------ Investment income: Interest ............................................................................. $ 81,056,516 $ 3,206,342 ------------------------------ Expenses: Management fees (Note 3) ............................................................. 7,877,475 322,526 Custodian fees ....................................................................... 51,156 2,206 Professional fees .................................................................... 53,677 19,963 Other ................................................................................ 83,273 3,266 ------------------------------ Total expenses .................................................................. 8,065,581 347,961 Expenses waived by affiliate (Note 3) ........................................... (185,571) (25,474) ------------------------------ Net expenses ................................................................... 7,880,010 322,487 ------------------------------ Net investment income ......................................................... 73,176,506 2,883,855 ------------------------------ Net realized gain (loss) from investments ............................................. 19,063 -- ------------------------------ Net increase (decrease) in net assets resulting from operations ....................... $ 73,195,569 $ 2,883,855 ------------------------------
36 |See notes to financial statements.|Annual Report The Money Market Portfolios FINANCIAL STATEMENTS (CONTINUED) STATEMENTS OF CHANGES IN NET ASSETS for the years ended June 30, 2003 and 2002
--------------------------------------------------------------------- THE U.S. GOVERNMENT SECURITIES THE MONEY MARKET PORTFOLIO MONEY MARKET PORTFOLIO 2003 2002 2003 2002 --------------------------------------------------------------------- Increase (decrease) in net assets: Operations: Net investment income ........................... $ 73,176,506 $ 125,672,808 $ 2,883,855 $ 5,015,722 Net realized gain (loss) from investments........ 19,063 83,083 -- -- --------------------------------------------------------------------- Net increase (decrease) in net assets resulting from operations .................. 73,195,569 125,755,891 2,883,855 5,015,722 Distributions to shareholders from net investment income .......................................... (73,195,569) a (125,755,891) b (2,883,855) (5,015,722) Capital share transactions (Note 2) .............. 597,003,871 243,276,615 (24,918,467) 39,958,367 --------------------------------------------------------------------- Net increase (decrease) in net assets........ 597,003,871 243,276,615 (24,918,467) 39,958,367 Net assets (there is no undistributed net investment income at beginning or end of year): Beginning of year ............................... 4,734,195,842 4,490,919,227 226,676,496 186,718,129 --------------------------------------------------------------------- End of year ..................................... $ 5,331,199,713 $4,734,195,842 $201,758,029 $ 226,676,496 ---------------------------------------------------------------------
aDistributions were increased by a net realized gain from investments of $19,063. bDistributions were increased by a net realized gain from investments of $83,083. Annual Report|See notes to financial statements.| 37 The Money Market Portfolios NOTES TO FINANCIAL STATEMENTS 1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES The Money Market Portfolios (the Trust) is registered under the Investment Company Act of 1940 as a diversified, open-end investment company, consisting of two separate portfolios (the Portfolios). The shares of the Trust are issued in private placements and are exempt from registration under the Securities Act of 1933. The Portfolios seek to provide high current income consistent with preservation of capital and liquidity. The following summarizes the Portfolios' significant accounting policies. a. Security Valuation Securities are valued at amortized cost which approximates value. b. Repurchase Agreements The Portfolios may enter into repurchase agreements, which are accounted for as a loan by the Portfolios to the seller, collateralized by securities which are delivered to the Portfolios' custodian. The market value, including accrued interest, of the initial collateralization is required to be at least 102% of the dollar amount invested by the Portfolios, with the value of the underlying securities marked to market daily to maintain coverage of at least 100%. At June 30, 2003, all repurchase agreements held by the Portfolios had been entered into on that date. c. Income Taxes No provision has been made for income taxes because each Portfolio's policy is to qualify as a regulated investment company under the Internal Revenue Code and to distribute substantially all of its taxable income. 38 |Annual Report The Money Market Portfolios NOTES TO FINANCIAL STATEMENTS (CONTINUED) 1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (continued) d. Security Transactions, Investment Income, Expenses and Distributions Security transactions are accounted for on trade date. Realized gains and losses on security transactions are determined on a specific identification basis. Interest income and estimated expenses are accrued daily. Discounts and premiums on securities purchased are amortized over the lives of the respective securities. Dividends from net investment income and capital gains or losses are normally declared daily. Such distributions are reinvested in additional shares of the Portfolios. Common expenses incurred by the Trust are allocated among the Portfolios based on the ratio of net assets of each Portfolio to the combined net assets. Other expenses are charged to each Portfolio on a specific identification basis. e. Accounting Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the amounts of income and expenses during the reporting period. Actual results could differ from those estimates. f. Guarantees and Indemnifications Under the Portfolios' organizational documents, its officers and trustees are indemnified against certain liability arising out of the performance of their duties to the Portfolios. Additionally, in the normal course of business, the Portfolios enter into contracts with service providers that contain general indemnification clauses. The Portfolios' maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Portfolios that have not yet occurred. However, based on experience, the Portfolios expect the risk of loss to be remote. Annual Report| 39 The Money Market Portfolios NOTES TO FINANCIAL STATEMENTS (CONTINUED) 2. SHARES OF BENEFICIAL INTEREST At June 30, 2003, there were an unlimited number of shares authorized ($.01 par value). Transactions in the Portfolios' shares were as follows:
THE U.S. GOVERNMENT THE SECURITIES MONEY MARKET MONEY MARKET PORTFOLIO PORTFOLIO --------------------------------- Year ended June 30, 2003 Shares sold ......................................... $ 6,279,565,500 $ 309,427,987 Shares issued in reinvestment of distributions ...... 73,193,516 2,884,175 Shares redeemed ..................................... (5,755,755,145) (337,230,629) --------------------------------- Net increase (decrease) ............................. $ 597,003,871 $ (24,918,467) ================================= Year ended June 30, 2002 Shares sold ......................................... $ 7,836,706,875 $ 356,762,722 Shares issued in reinvestment of distributions ...... 125,757,515 5,017,250 Shares redeemed ..................................... (7,719,187,775) (321,821,605) --------------------------------- Net increase (decrease) ............................. $ 243,276,615 $ 39,958,367 =================================
40 |Annual Report The Money Market Portfolios NOTES TO FINANCIAL STATEMENTS (CONTINUED) 3. TRANSACTIONS WITH AFFILIATES Certain officers and trustees of the Trust are also officers and/or directors of Franklin Advisers Inc. (Advisers) and Franklin/Templeton Investor Services LLC (Investor Services), the Portfolios' investment manager and transfer agent, respectively, and of the Franklin Money Fund, the Institutional Fiduciary Trust, the Franklin Templeton Money Fund Trust, and the Franklin Federal Money Fund. The Portfolios pay an investment management fee to Advisers of .15% per year of the average daily net assets of each Portfolio. Advisers agreed in advance to waive management fees as noted in the Statement of Operations. At June 30, 2003, the shares of The Money Market Portfolio were owned by the following funds:
--------------------------------- Percentage of Shares Outstanding Shares --------------------------------- Institutional Fiduciary Trust - Money Market Portfolio 2,998,841,506 56.25% Franklin Money Fund 1,959,838,113 36.76% Institutional Fiduciary Trust - Franklin Cash Reserves Fund 231,177,015 4.34% Franklin Templeton Money Fund Trust - Franklin Templeton Money Fund 141,343,079 2.65%
At June 30, 2003, the shares of The U.S. Government Securities Money Market Portfolio were owned by the following funds:
--------------------------------- Percentage of Shares Outstanding Shares --------------------------------- Franklin Federal Money Fund 125,651,937 62.28% Institutional Fiduciary Trust - Franklin U.S. Government Securities Money Market Portfolio 76,106,092 37.72%
Annual Report| 41 The Money Market Portfolios NOTES TO FINANCIAL STATEMENTS (CONTINUED) 4. INCOME TAXES The tax character of distributions paid during the years ended June 30, 2003 and 2002, was as follows:
THE U.S. GOVERNMENT THE SECURITIES MONEY MARKET MONEY MARKET PORTFOLIO PORTFOLIO -------------------------------------------------------------- 2003 2002 2003 2002 -------------------------------------------------------------- Distributions paid from ordinary income $73,195,569 $125,755,891 $2,883,855 $5,015,722 ==============================================================
At June 30, 2003, the cost of investments and undistributed ordinary income for income tax purposes were as follows: The U.S. Government The Securities Money Market Money Market Portfolio Portfolio ------------------------------- Cost of investments $5,377,203,459 $ 211,692,946 =============================== Undistributed ordinary income $ 6,843 $ -- =============================== 42 |Annual Report The Money Market Portfolios INDEPENDENT AUDITORS' REPORT TO THE BOARD OF TRUSTEES AND SHAREHOLDERS OF THE MONEY MARKET PORTFOLIOS In our opinion, the accompanying statements of assets and liabilities, including the statements of investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of each of the portfolios constituting The Money Market Portfolios (hereafter referred to as the "Portfolios") at June 30, 2003, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the financial highlights for each of the periods presented, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Portfolios' management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with auditing standards generally accepted in the United States of America, which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at June 30, 2003 by correspondence with the custodian and brokers, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP San Francisco, California August 5, 2003 Annual Report| 43 BOARD MEMBERS AND OFFICERS THE MONEY MARKET PORTFOLIOS The name, age and address of the officers and board members, as well as their affiliations, positions held with the Trust, principal occupations during the past five years and number of portfolios overseen in the Franklin Templeton Investments fund complex are shown below. Each board member will serve until that person's successor is elected and qualified. INDEPENDENT BOARD MEMBERS
- --------------------------------------------------------------------------------------------------------------------------- NUMBER OF PORTFOLIOS IN LENGTH OF FUND COMPLEX OVERSEEN NAME, AGE AND ADDRESS POSITION TIME SERVED BY BOARD MEMBER* OTHER DIRECTORSHIPS HELD - -------------------------------------------------------------------------------------------------------------------------- FRANK H. ABBOTT, III (82) Trustee Since 1992 105 None One Franklin Parkway San Mateo, CA 94403-1906 - -------------------------------------------------------------------------------------------------------------------------- PRINCIPAL OCCUPATION DURING PAST 5 YEARS: President and Director, Abbott Corporation (an investment company); and FORMERLY, Director, MotherLode Gold Mines Consolidated (gold mining) (until 1996) and Vacu-Dry Co. (food processing) (until 1996). - -------------------------------------------------------------------------------------------------------------------------- HARRIS J. ASHTON (71) Trustee Since 1992 132 Director, Bar-S Foods (meat One Franklin Parkway packing company). San Mateo, CA 94403-1906 - -------------------------------------------------------------------------------------------------------------------------- PRINCIPAL OCCUPATION DURING PAST 5 YEARS: Director of various companies; and FORMERLY, Director, RBC Holdings, Inc. (bank holding company) (until 2002); and President, Chief Executive Officer and Chairman of the Board, General Host Corporation (nursery and craft centers) (until 1998). - -------------------------------------------------------------------------------------------------------------------------- ROBERT F. CARLSON (75) Trustee Since 1998 46 None One Franklin Parkway San Mateo, CA 94403-1906 - -------------------------------------------------------------------------------------------------------------------------- PRINCIPAL OCCUPATION DURING PAST 5 YEARS: Vice President and past President, Board of Administration, California Public Employees Retirement Systems (CALPERS); and FORMERLY, member and Chairman of the Board, Sutter Community Hospitals; member, Corporate Board, Blue Shield of California; and Chief Counsel, California Department of Transportation. - -------------------------------------------------------------------------------------------------------------------------- S. JOSEPH FORTUNATO (70) Trustee Since 1992 133 None One Franklin Parkway San Mateo, CA 94403-1906 - -------------------------------------------------------------------------------------------------------------------------- PRINCIPAL OCCUPATION DURING PAST 5 YEARS: Attorney; and FORMERLY, member of the law firm of Pitney, Hardin, Kipp & Szuch. - -------------------------------------------------------------------------------------------------------------------------- Frank W.T. LaHaye (74) Trustee Since 1992 105 Director, The California Center One Franklin Parkway for Land Recycling (redevelopment). San Mateo, CA 94403-1906 - -------------------------------------------------------------------------------------------------------------------------- PRINCIPAL OCCUPATION DURING PAST 5 YEARS: General Partner, Las Olas L.P. (Asset Management); and FORMERLY, Chairman, Peregrine Venture Management Company (venture capital). - --------------------------------------------------------------------------------------------------------------------------
44 |Annual Report
- -------------------------------------------------------------------------------------------------------------------------------- NUMBER OF PORTFOLIOS IN LENGTH OF FUND COMPLEX OVERSEEN NAME, AGE AND ADDRESS POSITION TIME SERVED BY BOARD MEMBER* OTHER DIRECTORSHIPS HELD - -------------------------------------------------------------------------------------------------------------------------------- GORDON S. MACKLIN (75) Trustee Since 1992 132 Director, White Mountains Insurance One Franklin Parkway Group, Ltd. (holding company); San Mateo, CA 94403-1906 Martek Biosciences Corporation; MedImmune, Inc. (biotechnology); Overstock.com (Internet services); and Spacehab, Inc. (aerospace services); and FORMERLY, Director, MCI Communication Corporation (subsequently known as MCI WorldCom, Inc. and WorldCom, Inc.) (communications services) (1988-2002). - -------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL OCCUPATION DURING PAST 5 YEARS: Deputy Chairman, White Mountains Insurance Group, Ltd. (holding company); and FORMERLY, Chairman, White River Corporation (financial services) (1993-1998) and Hambrecht & Quist Group (investment banking) (1987-1992); and President, National Association of Securities Dealers, Inc. (1970-1987). - -------------------------------------------------------------------------------------------------------------------------- INTERESTED BOARD MEMBERS AND OFFICERS - --------------------------------------------------------------------------------------------------------------------------- NUMBER OF PORTFOLIOS IN LENGTH OF FUND COMPLEX OVERSEEN NAME, AGE AND ADDRESS POSITION TIME SERVED BY BOARD MEMBER* OTHER DIRECTORSHIPS HELD - --------------------------------------------------------------------------------------------------------------------------- **CHARLES B. JOHNSON (70) Trustee and Trustee since 132 None One Franklin Parkway Chairman of 1992 and San Mateo, CA 94403-1906 the Board Chairman of the Board since 1993 - -------------------------------------------------------------------------------------------------------------------------- PRINCIPAL OCCUPATION DURING PAST 5 YEARS: Chairman of the Board, Chief Executive Officer, Member - Office of the Chairman and Director, Franklin Resources, Inc.; Vice President, Franklin Templeton Distributors, Inc.; Director, Fiduciary Trust Company International; and officer and/or director or trustee, as the case may be, of some of the other subsidiaries of Franklin Resources, Inc. and of 45 of the investment companies in Franklin Templeton Investments. - -------------------------------------------------------------------------------------------------------------------------- **RUPERT H. JOHNSON, JR. (62) Trustee and Trustee since 115 None One Franklin Parkway President and 1992 and San Mateo, CA 94403-1906 Chief President and Executive Chief Executive Officer - Officer - Investment Investment Management Management since 2002 - -------------------------------------------------------------------------------------------------------------------------- PRINCIPAL OCCUPATION DURING PAST 5 YEARS: Vice Chairman, Member - Office of the Chairman and Director, Franklin Resources, Inc.; Vice President and Director, Franklin Templeton Distributors, Inc.; Director, Franklin Advisers, Inc. and Franklin Investment Advisory Services, Inc.; Senior Vice President, Franklin Advisory Services, LLC; and officer and/or director or trustee, as the case may be, of some of the other subsidiaries of Franklin Resources, Inc. and of 48 of the investment companies in Franklin Templeton Investments. - --------------------------------------------------------------------------------------------------------------------------
Annual Report| 45
- --------------------------------------------------------------------------------------------------------------------------- NUMBER OF PORTFOLIOS IN LENGTH OF FUND COMPLEX OVERSEEN NAME, AGE AND ADDRESS POSITION TIME SERVED BY BOARD MEMBER* OTHER DIRECTORSHIPS HELD - --------------------------------------------------------------------------------------------------------------------------- HARMON E. BURNS (58) Vice President Since 1992 Not Applicable None One Franklin Parkway San Mateo, CA 94403-1906 - -------------------------------------------------------------------------------------------------------------------------- PRINCIPAL OCCUPATION DURING PAST 5 YEARS: Vice Chairman, Member - Office of the Chairman and Director, Franklin Resources, Inc.; Vice President and Director, Franklin Templeton Distributors, Inc.; Executive Vice President, Franklin Advisers, Inc.; Director, Franklin Investment Advisory Services, Inc.; and officer and/or director or trustee, as the case may be, of some of the other subsidiaries of Franklin Resources, Inc. and of 48 of the investment companies in Franklin Templeton Investments. - -------------------------------------------------------------------------------------------------------------------------- MARTIN L. FLANAGAN (43) Vice President Since 1995 Not Applicable None One Franklin Parkway San Mateo, CA 94403-1906 - -------------------------------------------------------------------------------------------------------------------------- PRINCIPAL OCCUPATION DURING PAST 5 YEARS: President, Franklin Resources, Inc.; Senior Vice President and Chief Financial Officer, Franklin Mutual Advisers, LLC; Executive Vice President, Chief Financial Officer and Director, Templeton Worldwide, Inc.; Executive Vice President and Chief Operating Officer, Templeton Investment Counsel, LLC; President and Director, Franklin Advisers, Inc.; Executive Vice President, Franklin Investment Advisory Services, Inc. and Franklin Templeton Investor Services, LLC; Chief Financial Officer, Franklin Advisory Services, LLC; Chairman, Franklin Templeton Services, LLC; and officer and/or director of some of the other subsidiaries of Franklin Resources, Inc. and of 49 of the investment companies in Franklin Templeton Investments. - -------------------------------------------------------------------------------------------------------------------------- JIMMY D. GAMBILL (55) Senior Vice Since 2002 Not Applicable None 500 East Broward Blvd. President and Suite 2100 Chief Fort Lauderdale, FL 33394-3091 Executive Officer - Finance and Administration - -------------------------------------------------------------------------------------------------------------------------- PRINCIPAL OCCUPATION DURING PAST 5 YEARS: President, Franklin Templeton Services, LLC; Senior Vice President, Templeton Worldwide, Inc.; and officer of 51 of the investment companies in Franklin Templeton Investments. - -------------------------------------------------------------------------------------------------------------------------- DAVID P. GOSS (56) Vice President Since 2000 Not Applicable None One Franklin Parkway San Mateo, CA 94403-1906 - -------------------------------------------------------------------------------------------------------------------------- PRINCIPAL OCCUPATION DURING PAST 5 YEARS: Associate General Counsel, Franklin Resources, Inc.; officer and director of one of the subsidiaries of Franklin Resources, Inc.; officer of 51 of the investment companies in Franklin Templeton Investments; and FORMERLY, President, Chief Executive Officer and Director, Property Resources Equity Trust (until 1999) and Franklin Select Realty Trust (until 2000). - -------------------------------------------------------------------------------------------------------------------------- BARBARA J. GREEN (55) Vice President Since 2000 Not Applicable None One Franklin Parkway San Mateo, CA 94403-1906 - -------------------------------------------------------------------------------------------------------------------------- PRINCIPAL OCCUPATION DURING PAST 5 YEARS: Vice President and Deputy General Counsel, Franklin Resources, Inc.; Senior Vice President, Templeton Worldwide, Inc.; officer of one of the other subsidiaries of Franklin Resources, Inc. and of 51 of the investment companies in Franklin Templeton Investments; and FORMERLY, Deputy Director, Division of Investment Management, Executive Assistant and Senior Advisor to the Chairman, Counselor to the Chairman, Special Counsel and Attorney Fellow, U.S. Securities and Exchange Commission (1986-1995); Attorney, Rogers & Wells (until 1986); and Judicial Clerk, U.S. District Court (District of Massachusetts) (until 1979). - --------------------------------------------------------------------------------------------------------------------------
46 |Annual Report
- --------------------------------------------------------------------------------------------------------------------------- NUMBER OF PORTFOLIOS IN LENGTH OF FUND COMPLEX OVERSEEN NAME, AGE AND ADDRESS POSITION TIME SERVED BY BOARD MEMBER* OTHER DIRECTORSHIPS HELD - --------------------------------------------------------------------------------------------------------------------------- MICHAEL O. MAGDOL (66) Vice President Since 2002 Not Applicable Director, FTI Banque, Arch 600 Fifth Avenue -AML Chemicals, Inc. and Lingnan Rockefeller Center Compliance Foundation. New York, NY 10048-0772 - -------------------------------------------------------------------------------------------------------------------------- PRINCIPAL OCCUPATION DURING PAST 5 YEARS: Vice Chairman, Chief Banking Officer and Director, Fiduciary Trust Company International; and officer and/or director, as the case may be, of some of the other subsidiaries of Franklin Resources, Inc. and of 48 of the investment companies in Franklin Templeton Investments. - -------------------------------------------------------------------------------------------------------------------------- KIMBERLEY H. MONASTERIO (39) Treasurer and Treasurer since Not Applicable None One Franklin Parkway Chief Financial 2000 and Chief San Mateo, CA 94403-1906 Officer Financial Officer since 2002 - -------------------------------------------------------------------------------------------------------------------------- PRINCIPAL OCCUPATION DURING PAST 5 YEARS: Senior Vice President, Franklin Templeton Services, LLC; and officer of 51 of the investment companies in Franklin Templeton Investments. - -------------------------------------------------------------------------------------------------------------------------- MURRAY L. SIMPSON (66) Vice President Since 2000 Not Applicable None One Franklin Parkway and Secretary San Mateo, CA 94403-1906 - -------------------------------------------------------------------------------------------------------------------------- PRINCIPAL OCCUPATION DURING PAST 5 YEARS: Executive Vice President and General Counsel, Franklin Resources, Inc.; officer and/or director, as the case may be, of some of the subsidiaries of Franklin Resources, Inc. and of 51 of the investment companies in Franklin Templeton Investments; and FORMERLY, Chief Executive Officer and Managing Director, Templeton Franklin Investment Services (Asia) Limited (until 2000); and Director, Templeton Asset Management Ltd. (until 1999). - --------------------------------------------------------------------------------------------------------------------------
*We base the number of portfolios on each separate series of the U.S. registered investment companies within the Franklin Templeton Investments fund complex. These portfolios have a common investment adviser or affiliated investment advisers. **Charles B. Johnson and Rupert H. Johnson, Jr. are considered interested persons of the Fund under the federal securities laws due to their positions as officers and directors and major shareholders of Franklin Resources Inc., which is the parent company of the Fund's adviser and distributor. Note: Charles B. Johnson and Rupert H. Johnson, Jr. are brothers. THE STATEMENT OF ADDITIONAL INFORMATION (SAI) INCLUDES ADDITIONAL INFORMATION ABOUT THE BOARD MEMBERS AND IS AVAILABLE, WITHOUT CHARGE, UPON REQUEST. SHAREHOLDERS MAY CALL 1-800/DIAL BEN (1-800/342-5236) TO REQUEST THE SAI. Annual Report| 47 ITEM 2. CODE OF ETHICS. N/A ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT. N/A ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES. N/A ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS. N/A ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. N/A ITEM 9. CONTROLS AND PROCEDURES. (a) EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES. The Registrant maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in the Registrant's filings under the Securities Exchange Act of 1934 and the Investment Company Act of 1940 is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission. Such information is accumulated and communicated to the Registrant's management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure. The Registrant's management, including the principal executive officer and the principal financial officer, recognizes that any set of controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. Within 90 days prior to the filing date of this Shareholder Report on Form N-CSR, the Registrant had carried out an evaluation, under the supervision and with the participation of the Registrant's management, including the Registrant's principal executive officer and the Registrant's principal financial officer, of the effectiveness of the design and operation of the Registrant's disclosure controls and procedures. Based on such evaluation, the Registrant's principal executive officer and principal financial officer concluded that the Registrant's disclosure controls and procedures are effective. (B) CHANGES IN INTERNAL CONTROLS. There have been no significant changes in the Registrant's internal controls or in other factors that could significantly affect the internal controls subsequent to the date of their evaluation in connection with the preparation of this Shareholder Report on Form N-CSR. ITEM 10. EXHIBITS. (A) N/A (B)(1) CERTIFICATIONS PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 OF JIMMY D. GAMBILL, CHIEF EXECUTIVE OFFICER - FINANCE AND ADMINISTRATION, AND KIMBERLEY H. MONASTERIO, CHIEF FINANCIAL OFFICER (B(2) CERTIFICATIONS PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 OF JIMMY D. GAMBILL, CHIEF EXECUTIVE OFFICER - FINANCE AND ADMINISTRATION, AND KIMBERLEY H. MONASTERIO, CHIEF FINANCIAL OFFICER 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. THE MONEY MARKET PORTFOLIOS By /s/Jimmy D. Gambill Chief Executive Officer - Finance and Administration Date August 30, 2003 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/Jimmy D. Gambill Chief Executive Officer - Finance and Administration Date August 30, 2003 By /s/Kimberley H. Monasterio Chief Financial Officer Date August 30, 2003 EX-99.CERT 3 tmmpjimg302.txt EXHIBIT (B)(1) CERTIFICATIONS I, Jimmy D. Gambill, certify that: 1. I have reviewed this report on Form N-CSR of The Money Market Portfolios; 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(s) 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) 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) 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 as date within 90 days prior to the filing date of this report based on such evaluation; and (c) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal half-year (the registrant's second fiscal half-year in the case of an annual 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(s) 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. August 7, 2003 /S/JIMMY D. GAMBILL Chief Executive Officer - Finance and Administration I, Kimberley H. Monasterio, certify that: 1. I have reviewed this report on Form N-CSR of The Money Market Portfolios; 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(s) 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) 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) 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 as date within 90 days prior to the filing date of this report based on such evaluation; and (c) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal half-year (the registrant's second fiscal half-year in the case of an annual 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(s) 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. August 7, 2003 /S/KIMBERLEY H. MONASTERIO Treasurer and Chief Financial Officer EX-99.906CERT 4 tmmpjimg906.txt EXHIBIT (B)(2) CERTIFICATIONS CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURUSANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 I, Jimmy D. Gambill, Chief Executive Officer of the The Money Market Portfolios (the "Registrant"), certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge: 1. The periodic report on Form N-CSR of the Registrant for the period ended 6/30/03 (the "Form N-CSR") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and 2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant. Dated: August 7, 2003 /S/JIMMY D. GAMBILL Chief Executive Officer - Finance and Administration A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Registrant and will be retained by Registrant and furnished to the Securities and Exchange Commission or its staff upon request. CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURUSANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 I, Kimberley H. Monasterio, Chief Financial Officer of the The Money Market Portfolios (the "Registrant"), certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge: 1. The periodic report on Form N-CSR of the Registrant for the period ended 6/30/03 (the "Form N-CSR") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and 2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant. Dated: August 7, 2003 /S/KIMBERLEY H. MONASTERIO Treasurer and Chief Financial Officer A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Registrant and will be retained by Registrant and furnished to the Securities and Exchange Commission or its staff upon request. -----END PRIVACY-ENHANCED MESSAGE-----