Public Debt CNAV

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.

See also

• Amortised cost
• Constant net asset value
• 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