The sub-fund was set up as a money market fund. It seeks to achieve capital gains and to preserve the capital invested and provide returns in line with money market interest rates by investing in a diversified portfolio of money market instruments and euro-denominated deposits held by credit institutions. The sub-fund can also invest in instruments not denominated in euro provided that exposure to exchange rate risk is fully hedged upon the conversion to euro.
It invests in instruments whose time to maturity is less than or equal to 2 years, provided that the time remaining to the next date the interest rate will be set is less than or equal to 397 days. Assets are valued using the amortised cost method.
Revenues from investments are re-invested.