What is IPPXX?
IPPXX is the ticker symbol for the Invesco Premier Portfolio Institutional Class Shares, a money market fund that invests in short-term, high-credit-quality U.S.-dollar-denominated obligations. These obligations primarily include commercial paper, certificates of deposits, master and promissory notes, municipal securities and repurchase agreements.
What are the objectives and strategies of IPPXX?
The objective of IPPXX is to provide current income consistent with preservation of capital and liquidity. The fund follows a conservative investment process with respect to minimal credit risk, interest rate risk and liquidity. The fund is designed for short- to medium-term cash investments, operating cash, cash sweeps and the liquidity components of investment portfolios. The fund aims to preserve capital, maintain liquidity and produce a competitive yield.
Who are the management team of IPPXX?
The management team of IPPXX consists of nine portfolio managers who have extensive experience and expertise in the money market industry. They are:
- Laurie Brignac, CFA: Senior Portfolio Manager
- Joseph S. Madrid, CFA: Senior Portfolio Manager
- Marques Mercier: Senior Portfolio Manager
- Ripal Patel Tilara, CFA: Portfolio Manager
- Jennifer Brown, CPA: Portfolio Manager
- Brandon Maitre, CFA: Portfolio Manager
- Bryn Zinser: Portfolio Manager
- Wes Rager, CPA: Portfolio Manager
- Justin Mandeville: Portfolio Manager
What are the performance and risk of IPPXX?
As of August 10, 2023, IPPXX had a current net asset value (NAV) of $1.00 per share, a market value NAV of $1.0000 per share, a 7-day SEC yield of 5.37%, an unsubsidized 7-day SEC yield of 5.30%, a 30-day simple yield of 5.27%, a 365-day yield of 5.41%, a weighted average maturity (WAM) of 46 days, and a weighted average life (WAL) of 63 days. The fund had total net assets of $4.65 billion, daily liquidity of 34.31%, and weekly liquidity of 46.45%.
You could lose money by investing in the fund. Although the fund seeks to preserve your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below the required minimums because of market conditions or other factors. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.
Conclusion
IPPXX is a money market fund that offers investors a way to earn income while preserving capital and liquidity. The fund invests in high-quality U.S.-dollar-denominated obligations with short-term maturities and low credit risk. The fund is managed by a team of experienced portfolio managers who follow a conservative investment process. The fund has a stable NAV of $1.00 per share and a competitive yield. However, the fund is not without risk, and investors should be aware of the potential for loss of principal, fees, suspensions, and lack of sponsor support.
