Pinnacle aShares Dynamic Cash Fund
Pinnacle Investment Management has launched an exchange quoted managed cash fund - the Pinnacle aShares Dynamic Cash Fund - which will be managed by Omega Global Investors.
The fund, which has a ticker of Z3RO, has zero management fees and 'recoverable expenses' of 0.15 per cent.
It invests primarily in short term money market securities denominated in Australian dollars, which can include floating rate notes, negotiable certificates of deposit, corporate paper and short dated discount securities. The fund will only invest in short term money market securities that have an investment grade rating provided by a major credit rating agency, and a maturity of less than one year.