Bestinvest says
No information available.
Only companies that have a AAA rating according to each of the three main rating agencies are considered for the fund. From this narrowed universe the credit research team recommend which companies the manager can buy and the maximum duration of the paper for each company. JPM call this the tenure rate. The manager follows trends in the tenure limit as part of his portfolio construction. This was the process that gave Lehman Borthers a zero duration 3 months prior to its bankruptcy.
JPM use only career analysts and do not, therefore, train junior analysts by giving them responsibility for shorter duration paper.
The fund can hold, Commercial Paper, Certificates of Deposits, Floating Rate Notes (FRN's), Time deposits, Overnight Repo's and Medium Term Notes.
The manager can also buy Treasuries's despite the fact that there is a USD Treasury fund of which Tobin is also the manager.