New England Financial (NEF) is creating a new computer-based personal money management tool to be known as the Electronic Money Management Account. All money placed in the account will be invested in a money market fund offered through New England Securities Corp., an affiliate.

The fund, the e-navigator Fund, invests all of its assets in the Cortland General Money Market Account, a money market fund managed by Reich & Tang Asset Management L.P., an affiliated money manager.

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