FGIC Holdings said this week that the Securities and Exchange Commission approved the funds offered by its cash management subsidiary.

In the first quarter, FGIC Public Trust registered the Short-Term U.S. Government Income Fund and U.S. Treasury Money Market Fund with the SEC. The securities regulator declared the funds effective as of April 18, a FGIC spokeman said, adding that they are expected to be operational in mid-May.

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