Access to Investments and Cash During the Month
The structure of the PRIT Fund only allows movement in and out of the investment portfolios on the first business day of each month. To invest or redeem funds on this day, PRIM requires advance notification by way of a Deposit, Redemption or Exchange form. However, if cash is desired later in the month, funds would need to be un-invested on first business day and set aside in the form of a standing monthly maintenance balance. The funds are held in a separate cash account and are accessible at any time during the month via redemption form. This account receives a short-term cash rate of return.
Additionally, cash can be wired to PRIM at any time during the month. These funds would reside un-invested in the cash account until the next first business day. Please note that any redemption, deposit, exchange or monthly maintenance balance form needs to be received by PRIM at least 24 hours prior to the activity date.