Public Debt CNAV: Difference between revisions

Latest revision as of 21:12, 7 July 2022

Money market funds.

A constant net asset value (CNAV) per share money market fund, substantially invested in public debt.

At least 99.5% of the portfolio must be invested in public debt securities, reverse repo secured with government securities, and cash.

Money Market Fund (MMF) reforms in 2019 replaced [prime] constant net asset value (CNAV) funds with two new categories:

- the Public Debt CNAV fund, and

- the low-volatility NAV (LNAV) fund.

@@ Line 1: / Line 1: @@
 ''Money market funds''.
-A constant net asset value (CNAV) per share money market fund, invested in public debt.
+A constant net asset value (CNAV) per share money market fund, substantially invested in public debt.
+At least 99.5% of the portfolio must be invested in public debt securities, reverse repo secured with government securities, and cash.
-<span style="color:#4B0082">'''''Money market fund (MMF) reforms'''''</span>
-:"Full implementation of MMF reforms won't take place until February 2019, but treasurers need to start preparing for the replacement of constant net asset value (CNAV) funds with two new categories:
+Money Market Fund (MMF) reforms in 2019 replaced [prime] constant net asset value (CNAV) funds with two new categories:
 : - the Public Debt CNAV fund, and
 : - the low-volatility NAV (LNAV) fund.
-:According to research from rating agency Moody's, LVNAV MMFs are likely to attract most of the funds currently invested in prime CNAV MMFs."
-:''The Treasurer magazine, June 2018, p21 - Sarah Rundell, freelance journalist specialising in treasury and investment issues.''
@@ Line 23: / Line 18: @@
 * [[Low-volatility NAV]]
 * [[Money market fund]]
+* [[Money Market Funds Regulation]]
 * [[Money market fund reform: a light at the end of the tunnel?]]
 * [[Net asset value]]
 * [[Prime]]
+* [[Public]]
+* [[Public debt]]
+* [[Reverse repo]]
+* [[Security]]
 * [[Variable net asset value]]
 * [[Volatility]]