Minnesota Combined Investment Funds – Trust Series Cash is a cash management portfolio within the Minnesota State Board of Investment’s broader trust and pooled programs. It serves as a short-term, high-quality liquidity sleeve designed to preserve principal and provide daily liquidity for public trust participants, aligning with the SBI’s framework for managing state and local governmental assets in pooled structures. The portfolio typically invests in high-grade, short-duration instruments consistent with treasurer cash pools and similar state cash accounts, supporting operational cash needs and acting as a transaction and collateral buffer across participant-directed and non-retirement trust funds. Within the Combined Funds ecosystem overseen by the Minnesota State Board of Investment, cash and cash-like allocations play a stabilizing role alongside longer-duration fixed income and public and private market exposures, facilitating cash flow management, benefit payments, and rebalancing flexibility across programs. Documentation from the Minnesota State Board of Investment describes the structure and purpose of state cash and pooled cash programs that inform how such trust series cash portfolios are implemented and governed.
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