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Investment Strategy The Discovery Money Market Fund invests mainly in money market instruments. The portfolio will consist of money market instruments as allowed by the Act (currently instruments with a maturity of less than one year and an average maturity for the fund which will typically be less than 90 days). Any net revenue will accrue and be declared to unit holders on a daily basis and distributed on each distribution date. The fund has no intention of investing its assets offshore. Further, it aims to protect investors' capital and provide them with immediate liquidity. The fund targets returns in excess of the benchmark, measured over rolling one year periods. The primary performance objective of the portfolio is to obtain a high level of current income as is consistent with capital preservation and liquidity. Capital gains will be of an incidental nature. Fund Objectives The fund aims to earn a higher level of income than fixed and call deposits over time and to outperform South African money market indices.
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