Objective
The investment objective of the Fund is to provide investment results that closely correspond, before fees and expenses, generally to the price and yield performance of the Solactive 1–3 month US T-Bill Index (the “Index”). The Fund is passively managed. The Fund will aim to achieve its investment objective by attempting to track the performance of the Index by investing primarily in a portfolio that principally comprises Treasury bills (“T-Bills") issued by the U.S. government. The Fund invests at least 80% of its total assets in the securities of the Index. The Index is designed to measure the performance of public obligations of the U.S. Treasury that have a remaining maturity of greater than or equal to 1 month and less than 3 months. The Fund will employ a representative sampling strategy ("Sampling Strategy") with respect to the Index. Representative sampling is an indexing strategy that involves investing in a representative sample of securities (including indirect investments through underlying ETFs) that collectively has an investment profile similar to the Index in terms of key risk factors, performance attributes and other characteristics. Under normal circumstances, at least 80% of the Fund's net assets will be invested in component securities of the Index or in investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities, either individually or in the aggregate. In addition, in seeking to track the Index, the Fund may invest in debt securities that are not included in the Index, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds. The Index is comprised of T-Bills issued by the U.S. government, that have a remaining maturity of less than 3 months and at least 1 month and are rated investment grade. In addition, each security must be zero coupon, be denominated in U.S. dollars and have an amount outstanding of at least $250 million, as determined by the Index Provider. When not possible or practicable to continue to hold all of the component securities of the Index, the Fund may invest in financial derivative instruments ("FDIs"), namely, total return “unfunded” OTC swaps and exchange traded equity futures, for investment purposes and collective investments schemes that have a similar strategy to the Fund or allow similar exposure to the index constituents. The Fund's base currency is USD.
- Leverage100
- Currency hedgingNo