FLCLASS Enhanced Cash is a next-day liquidity investment option designed for FLCLASS Participants that seeks to generate a higher yield while complementing the daily liquidity offered by the FLCLASS fund. Enhanced Cash is best suited for investors with a slightly longer investment horizon who are seeking additional income.
Seamlessly access all of your FLCLASS accounts and reporting through the FLCLASS Online Portal. Both FLCLASS products offer you unlimited subaccounts with no minimum balance requirements. Easily make online transfers from your Enhanced Cash subaccounts to your FLCLASS subaccounts.
Complement your investment management strategy with Enhanced Cash by gaining exposure to a diversified portfolio of high-quality securities for your local government's investment needs.
Best suited for medium-term investments and strategic reserves
Rated by FitchRatings
Provides next-day liquidity
Managed to approximate a $10.00 transactional share price
> 60 days
Weighted average maturity beyond 60 days
Dividends accrue daily and are reinvested at month-end
Enjoy no investment minimum or maximum with Enhanced Cash
Create as many Enhanced Cash subaccounts as your entity needs
Accessible in Portal
Conveniently access your monthly statement, transaction confirmations, and on-demand reports
The general objective of FLCLASS Enhanced Cash is to obtain an increased level of investment income while preserving capital and offering next-day liquidity to its Participants. The Enhanced Cash pool invests in high-quality, short-term fixed-income investments authorized by Florida Statutes. The Enhanced Cash pool is structured to provide an investment vehicle for participants who wish to invest monies not needed for daily liquidity.
All investments made on behalf of FLCLASS Enhanced Cash will comply with the provisions of the FLCLASS Enhanced Cash Investment Policy and Florida law relating to the investment of public funds; investment funds may only be invested in a manner that is permitted pursuant to Florida’s Investment of Local Government Surplus Funds Act, Chapter 218, Part IV and the Florida Interlocal Cooperation Act of 1969. For a complete list of eligible investments for FLCLASS Enhanced Cash, download the Enhanced Cash Investment Policy.
Enhanced Cash is a variable NAV fund managed to approximate a $10.00 transactional share price, calculating and publishing a fair value NAV on a daily basis. The FLCLASS Enhanced Cash portfolio has designated a $10.00 transactional share price in order to clearly differentiate the portfolio from a traditional $1.00 stable NAV fund. While $0.50 and $2.00 are examples of other variable NAV strike prices, a $10.00 per share NAV is one of the most commonly used strike prices for variable NAV funds.
Enhance your ability to manage your assets more efficiently and effectively while maintaining safety and liquidity. Our team of investment professionals are here to assist you every step of the way.
Many factors affect performance including changes in market conditions and interest rates and in response to other economic, political, or financial developments. Investment involves risk including the possible loss of principal. No assurance can be given that the performance objectives of a given strategy will be achieved. FLCLASS Enhanced Cash is rated ‘AAAf/S1’ by FitchRatings. The ‘AAAf’ rating is Fitch’s opinion on the overall credit profile within a fixed-income fund/portfolio and indicates the highest underlying credit quality of the pool’s investments. The ‘S1’ volatility rating is Fitch’s opinion on the relative sensitivity of a portfolio’s total return and/or net asset value to assumed changes in credit spreads and interest rates. The ‘S1’ volatility rating indicates that the fund possesses a low sensitivity to market risks. For a full description on rating methodology, please visit www.fitchratings.com. Ratings are subject to change and do not remove credit risk. Past performance is no guarantee of future results. Any financial and/or investment decision may incur losses.