# USDM Reserves - Investment mandate **REFERENCE AND ASSET VALUATION CURRENCY**: USD **INVESTMENT DURATION**: 12 months or less **PERMISSABLE INVESTMENTS** * Fixed Income Selection * Fixed or Floating rate bonds denominated in USD * Final maturity limited to 397 days or less * Maintain a dollar-weighted average maturity of 60 days or less and a dollar-weighted average life of 120 days or less * Not acquire any security other than a daily liquid asset unless, immediately following such purchase, at least 10% of its total assets would be invested in daily liquid assets, and the Fund will not acquire any security other than a weekly liquid asset unless, immediately following such purchase, at least 30% of its total assets would be invested in weekly liquid assets * Mutual Funds; Index-tracking securities, including ETFs * Invests at least 99.5% of its total assets in cash, U.S. Treasury bills, notes and other obligations issued or guaranteed as to principal and interest by the U.S. Treasury, and repurchase agreements secured by such obligations or cash. * Repurchase agreements * US Treasury Obligations * US Government risk Money Market Funds and ETFs * Invested in assets with 97% or more in Qualified Interest Income (QII), via RICs to avoid withholding tax for NRAs --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.mountainprotocol.com/legacy-docs/usdm-reserves-investment-mandate.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.