RE: Investment of working capital6 Jun 2023 20:23
An Ultra Short Bond fund refers to the maturity of the bonds it holds. Typically investors park cash in high-coupon bonds close to maturity to gain a little more interest on the money while taking only slightly more risk. The name Ultra Short gives the impression it's a high risk bet on the movement of interest rates, but in reality it isn't. Page 78 of the 2022 annual report doesn't show the position from 2021 was rolled into 2022.