 | |
| Daily Rate As Of 06/17/2013 | |
| Corporate Overnight: | 0.14% |
| Government Overnight: | 0.07% |
| Corporate Overnight Plus: | 0.18% |
| 7 Day Yield As Of 06/17/2013 | |
| Corporate Overnight: | 0.15% |
| Government Overnight: | 0.06% |
| Corporate Overnight Plus: | 0.18% |
Government Overnight Fund
Daily Liquidity
The Government Overnight Fund provides you with safety of principal, daily liquidity, and the highest possible rate of return. The fund seeks to maintain a net asset value of one dollar, and its dollar-weighted average maturity is 60 days or fewer.
| Period | Average Monthly Return | 7-Day SEC Yield | Weighted Maturity (1) | Weighted Maturity (2) |
| September 2012 | 0.15% | 0.15% | 45 | 101 |
| October | 0.15% | 0.16% | 49 | 94 |
| November | 0.15% | 0.15% | 58 | 64 |
| December | 0.15% | 0.14% | 50 | 79 |
| January 2013 | 0.10% | 0.09% | 52 | 78 |
| February | 0.09% | 0.11% | 55 | 83 |
(1) This weighted average maturity calculation uses the industry standard definition of stated maturity for floating rate instruments, the number of days until the next reset date.
(2) This weighted average maturity calculation uses the final maturity of any floating rate instrument, as opined in Texas Attorney General Opinion No. JC3059.
Authorized Investments
Though the Pool may invest in all securities authorized under the Investment Act, it is the Board's policy that only the following of such authorized investments will be eligible as Government Overnight Fund investments:
- Obligations of the United States or its agencies and instrumentalities
- Other obligations, the principal and interest of which are unconditionally guaranteed or insured by, or backed by the full faith and credit of, the United States or its agencies and instrumentalities
- Fully collateralized repurchase agreements that meet the following criteria: (1) have a defined termination date; (2) are secured by obligations of the United States or its agencies and instrumentalities; (3) require the securities being purchased by the Government Overnight Fund to be pledged to the Government Overnight Fund, held in the Government Overnight Fund's name, and deposited at the time the investment is made with the Government Overnight Fund or with a third party selected and approved by the Government Overnight Fund; and (4) are placed through a primary government securities dealer, as defined by the Federal Reserve, or a financial institution doing business in this state. The market value of repurchase agreement collateral is required to initially be 102 percent of the principal amount of such repurchase agreement. Thereafter, the market value of such collateral will be determined (marked-to-market) daily and reset to 102 percent of the principal amount if it falls below 100 percent.
- No-load money market mutual funds regulated by the SEC, provided the Government Overnight Fund shall not invest its funds in any one money market mutual fund in an amount that exceeds 10 percent of the total assets of such money market mutual fund.