ABSTRACT
The J.P. Morgan Cash Index tracks the daily total return performance of constant maturity euro-currency deposits, including one-, two-, three-, six- and 12-month deposits, for 11 markets. These markets include Australia, Belgium, Canada, France, Germany, Italy, Japan, The Netherlands, Spain and the United States. Euro-currency deposits for the 11 markets deemed to be the most important for the international investor. The J.P. Morgan Cash Index was introduced in December 1990, as a complement to the J.P. Morgan Governfment Bond Index, to serve as a reliable performance benchmark for a fund's cash component. Daily index values have been recalculated to December 31, 1985. The Merrill Lynch 91-Day US Treasury Bill Auction Rate Average tracks the monthly price only and total return performance of a three-month Treasury bill, based on monthly average auction rates. Total return is computed using a discount-to-par method based on monthly auction averages.
