Michigan CLASS EDGE is a next-day liquidity investment option designed for Michigan CLASS Participants that seek to generate a higher yield while complementing the daily liquidity offered by the Michigan CLASS stable NAV fund. EDGE is best suited for medium-term investments and strategic reserves as the pool is structured to provide an investment vehicle for Participants who wish to invest monies not needed for daily liquidity.
Seamlessly access all of your Michigan CLASS accounts and reporting through the Michigan CLASS Online Portal. Both Michigan CLASS products offer you unlimited subaccounts with no minimum balance requirements. Easily make online transfers from your EDGE subaccounts to your Michigan CLASS subaccounts.
Complement your investment management strategy with EDGE 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
Next-day liquidity offered as needed
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 EDGE
Create as many EDGE subaccounts as your entity needs
Accessible in Portal
Conveniently access your monthly statement, transaction confirmations, and on-demand reports
|Daily Yield (%)||4.9469|
|YTD Yield (%)||4.7549|
|7-Day Yield (%)||4.9364|
|30-Day Yield (%)||4.9324|
|Net Asset Value (NAV)||9.98|
The key objective of Michigan CLASS EDGE is to generate a higher return than traditionally provided by a stable NAV LGIP while seeking to protect Participant funds. This is achieved by investing in only the highest-quality securities that are legally authorized by Michigan Investment Laws.
All investments made on behalf of Michigan CLASS EDGE are in full compliance with Public Act 20 of 1943, Public Act 451 of 1976, Public Act 331 of 1966, and Public Act 94 of 1933, each as amended. For a complete list of eligible investments for Michigan CLASS EDGE, please read the Michigan CLASS EDGE Investment Policy.
No, EDGE is designed as a variable NAV fund managed to approximate a $10.00 transactional share price that is calculated and published as a fair value NAV on a daily basis. The Michigan CLASS EDGE portfolio has designated a $10.00 transactional share price in order to clearly differentiate the portfolio from a traditional $1.00 stable NAV fund.
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.
Michigan CLASS 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.
Data unaudited. Performance results are shown net of all fees and expenses and reflect the reinvestment of interest and other earnings. 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. Past performance is no guarantee of future results. Any financial and/or investment decision may incur losses. For more information on historical yields and performance, please click here.