Operating Cash Portfolio
Operating Cash Portfolio
Appendix A
Asset allocation guidelines
In order to have a reasonable probability of achieving the target return at an acceptable risk level, the Committee has adopted the asset allocation policy outlined below. The actual asset allocation will be reviewed on a quarterly basis, if not more frequently, and will be at a minimum readjusted when an asset class weighting is outside its target range.
Fixed Income:
| Asset Class | Style Universe | Target Allocation 62% | Exposure % Range 40-70% | Target Benchmark |
|---|---|---|---|---|
| Short Duration Fixed Income | Short Duration | 32% | 15-40% | Barclays Short Treasury |
| Intermediate Duration Fixed Income | Intermediate Duration | 20% | 15-30% | Barclays 1-3 Year Treasury |
| High Yield Fixed Income | High Yield Bonds | 5% | 3-9% | Barclays Corporate High Yield |
| Global Fixed Income | Global Bonds | 5% | 3-9% | Barclays Global Aggregate |
Cash:
| Asset Class | Style Universe | Target Allocation | Exposure % Range | Target Benchmark |
|---|---|---|---|---|
| Cash | N/A | 38% | 20-50% | 90-day T-bills |
Doc. T92-031, Appendix F, as amended | Investment Policy and Guidelines Statement Operating Cash Portfolio
Passed by the Board of Trustees on June 3, 1992
Revised:
February 3, 1993
December 1, 1993
June 8, 1994
October 5, 1994
August 9, 1995
October 9, 1996
August 2, 2000
May 25, 2005
June 10, 2009