Strategy Objective

An actively managed short-term investment strategy emphasizing current return, principal preservation, and liquidity. The strategy seeks to earn a reasonable return that exceeds the return from money market investments, while limiting risk and volatility.

Allowable Securities

US Treasury securities, US Agency securities, US Agency mortgage backed securities, US Dollar denominated Investment Grade Corporate securities, and asset backed securities.   Average maturity of the portfolio will range from 1 to 3 years.  Average quality of the portfolio will be maintained at AA.  Individual issues must be rated A or above by one of the major rating agencies at the time of purchase.

Benchmark

Bloomberg Barclays 1-3 year Government Credit Index

Duration Range

1 to 3 years

Representative Portfolio Characteristics as of 6/30/2016

Quality Distribution

  • UST
  • AGY
  • AAA
  • AA
  • A
  • Baa
  • CASH

Sector Allocation

  • UST
  • MTG
  • FIN
  • SOVERIGN
  • AGY
  • IND
  • CASH