Permanent Cash Management Fund

Fund objective
The Permanent Cash Management Fund (‘the Fund’) aims to achieve a very high level of security of capital, give investors a market competitive interest return, and provides access to funds at call. The Fund is fully invested in the Trust Cash Management Fund (TCMF). Accordingly information and data presented in this document is for the TCMF.

Risk and return profile
The TCMF invests in bank accepted bills of exchange and negotiable certifi cates of deposits issued by a bank and government guaranteed securities with a maturity date of two years or less. While liquid assets such as these are not guaranteed by Trust, they are regarded as one of the most secure asset classes. The Fund is suitable for Investors seeking:

• security of capital
• funds payable at call
• market competitive interest rates.

Investment style
TCMF invests in highly liquid short term securities, that is, securities which have a maturity date of not more than two years at the date of acquisition and which meet the following criteria:

• government securities of the Commonwealth or a state
• securities of a public statutory body of the Commonwealth or any state, if those securities are guaranteed by the Commonwealth or a state
• negotiable certificates of deposit with an Australian bank
  
• bills of exchange which have been endorsed or accepted without qualification by an Australian bank.

Present strategy
The managers of the TCMF select and manage securities to maximise returns based on their expectations for future moves in money market interest rates. The securities are also selected to ensure they fit within the counterparty limits set for the TCMF.

Trust Company Fiduciary Services Limited is the responsible entity and issuer of units in the Fund and a wholly owned subsidiary of Trust Company Limited. The information on this page is of a general nature only and should not be relied upon as it has been prepared without taking account of your objectives, financial situation or needs. It is not intended to constitute investment, legal or taxation advice as it is of a general nature only. Accordingly, before acting on the information you should consider its appropriateness having regard to your objectives, financial situation and needs. Before deciding whether to acquire, or to continue to hold the product, you should obtain and consider the current product disclosure statement.