This exchange-traded fund (ETF) seeks to provide investors with a return that, after fees, closely tracks the performance of a specific Australian cash market benchmark, aiming for a slightly enhanced yield compared to traditional cash investments. The fund achieves this by investing primarily in a diversified portfolio of high-quality, short-term money market instruments, which can include bank deposits, certificates of deposit, and commercial paper issued by reputable financial institutions and corporations. These instruments typically have very short maturities, often less than three months, minimizing interest rate risk and ensuring a high level of liquidity. This approach allows the fund to maintain a low level of volatility and provide investors with a stable, cash-like return while still seeking to slightly outperform a standard cash rate index. The fund is designed for investors who prioritize capital preservation and liquidity, offering a convenient way to gain exposure to the short-term Australian money market without the need for direct investment in these instruments. It’s a low-risk option intended to generate income, while maintaining a readily accessible pool of cash for various financial needs, without significant exposure to the volatility of broader markets. The fund is typically used by investors who want a safe haven for their capital, a place to park cash while they evaluate other investment opportunities, or as a component of a broader investment strategy designed to reduce overall portfolio risk. In short, it offers a convenient way to achieve a risk-adjusted return slightly above normal cash rates.