Stability, liquidity, and balance. Both Money Market and Central Depository Investments provide BCIIF with the liquidity required to repay the federal IIP on scheduled repayment terms and honour its obligations to make committed but not-yet-called Venture Capital Investments with selected funds.
Money Market Investments is an investment pool managed by the British Columbia Investment Management Corporation (“bcIMC”) and comprised of short-term, low risk, and high quality government and corporate debt securities.
Funds are also invested in Government’s Central Deposit Program (“CDP”), which uses the short-term monies, primarily, for financing the Consolidated Revenue Fund and provides competitive returns to BCIIF. Investment in the CDP is a new activity to the BCIIF, anticipated to largely replace Money Market Investments.
The CDP provides the benefit of monies remaining available to the BCIIF for the purpose of liquidity and future investments. Monies in the CDP optimize deployment of cash in the Government Reporting Entity by providing government with an internal short-term source of capital at a competitive rate which minimizes taxpayer-supported debt.