Rates Disclaimer

Returns quoted are net of fees. Rates can vary over time. Past performance is not a guarantee of future results.

Annual Yield: Dividend factor exponentially raised to the number of days in the year.

Average Month to Date Yield: The product of the monthly dividend factors exponentially

raised to 365/number of days in month. Raising a number exponentially shows the effect of

compounding.

Daily Rate: Dividend factor multiplied by the number of days in the year.

Dividend Factor: Portfolio investment income earned for the one day period less expenses

divided by the total shares outstanding in the portfolio.

Weighted Average Maturity (WAM): The average maturity of all the securities held in the

portfolio. The WAM is kept under 60 days, which further helps to enhance liquidity and limits

market price exposure.

Note:

Raising a number exponentially shows the effect of compounding.