Description
The aim is for the investment to reflect the performance of the FED FUNDS EFFECTIVE RATE TOTAL RETURN Index® (Index). The Index reflects the performance of a notional deposit earning the federal funds effective rate with interest being reinvested in the deposit daily. The federal funds effective rate is the interest rate that is charged by depository institutions, with excess reserves at a United States Federal Reserve District Bank, to lend money to other depository institutions overnight. The federal funds effective rate is the average interest rate charged in relation to such loans on a given day. The Federal Open Market Committee sets a target rate and the federal funds effective rate tends to be within a range of that target. The Index is calculated using a specific formula and published by Deutsche Bank on a daily basis on any business day in New York.
