The TRACI 3 Month Exchange Traded Fund tracks the performance of Barclays/Absa ZAR Tradable Cash Index 3 Month. Most existing money market unit trusts are typically benchmarked against STeFI Index, a non-investable benchmark.
The innovative Barclays/Absa ZAR Tradable Cash Index 3 Month, in comparison, is fully investable and constructed to track the overnight, 3-month SA money market deposit rates. The TRACI index measures the mark-to market value of the income earned from rolling a 3-month money market deposit on a monthly basis. The index aims to maintain a constant maturity and track the present value of deposit accounts.