WASHINGTON–Trust For Credit Unions, the family of mutual funds created for credit unions, is reporting its two TCU bond funds, the Ultra-Short Duration and Short Duration Portfolios, had combined assets under management of $3.61 billion as of Feb. 11.
“We’ve already welcomed a record number of new credit union investors in the opening weeks of 2021 and look forward to serving more of the industry as we build on our 30-year history of performance,” said Jay Johnson, president of TCU, in a statement.
According to the Callahan & Associates, which oversees Trust for Credit Unions, TCU was founded to provide actively managed, competitive investment alternatives for credit unions. Trust for Credit Unions noted that as deposit levels have hit their own records industry-wide and earnings pressure has increased, more credit unions are turning to this leading industry investment solution.
The organization reported the TCU Short-Duration Portfolio, which targets a two-year duration, had a 30-day yield of 0.76% as of Feb. 11, while the TCU Ultra-Short Duration Portfolio, which targets a three-month duration, had a 30-day yield of 0.32% over the same period.
ALM First Financial Advisors serves as the funds’ investment advisor.