|Name||Date||Current Seven-Day Yield|
|SNAP Fund Portfolio||5/31/2023||5.26%|
Current seven-day yield, also known as the “current annualized yield”, represents the net change, exclusive of capital changes and Income other than Investment Income, in the value of a hypothetical account with a balance of one share (normally $1.00 per share) over a seven-day base period expressed as a percentage of the value of one share at the beginning of the seven-day period. This resulting net change in account value is then annualized by multiplying it by 365 and dividing the result by 7. Past performance is not indicative of future results and yields may vary.
The yields shown above may reflect fee waivers by the SNAP Fund Portfolio’s current or prior service providers. When such waivers occur, they reduce the total operating expenses of the SNAP Fund Portfolio, and the SNAP Fund Portfolio yields would have been lower if there were no such waivers. Refer to the SNAP Fund’s Information Statement for further information on the expenses of the SNAP Fund and fees of its service providers.
Special Report: Debt Ceiling
In light of circumstances regarding the U.S. Government debt ceiling, we wanted to inform you that the Virginia SNAP portfolio currently does not hold U.S. Treasury securities maturing prior to December 31, 2023. For more information on the debt ceiling, please see the investment manager’s recent update here.
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