Investment Mandate
Spiko EU T-Bills Money Market Fund
The Fund targets a net return aligned with the Euro Short-Term Rate (€STR). To achieve this objective, the Fund invests exclusively in Treasury Bills with maturities of less than 6 months issued by high credit rating ("investment grade") Eurozone member states, such as Germany and France. Besides, the average portfolio maturity cannot exceed 2 months. The Fund maintains a residual cash balance (up to 10% of assets) in EUR to facilitate deposit and withdrawal processing.
The Euro Short-Term Rate (€STR):
- is calculated and published by the European Central Bank
- updates daily on business days
- can be referenced on the ECB's official website
Spiko US T-Bills Money Market Fund
The Fund targets a net return aligned with the Effective Federal Funds Rate (EFFR). To achieve this objective, the Fund invests exclusively in United States Treasury Bills (U.S. T-Bills) with maturities of less than 6 months. Besides, the average portfolio maturity cannot exceed 2 months. The Fund maintains a residual cash balance (up to 10% of assets) in USD to facilitate deposit and withdrawal processing.
The Effective Federal Funds Rate (EFFR):
- is calculated and published by the Federal Reserve Bank of New York
- updates daily on business days
- can be referenced on the NY Fed's official website