One token represents a proportional share in a managed portfolio of short-duration instruments, principally Treasury bills and equivalent paper of comparable credit quality and maturity.
Net asset value is computed and published on-chain at each valuation cycle. Subscriptions and redemptions are handled within the same contract that holds the portfolio's records, rather than through a separate transfer agent process.
Yield is not distributed periodically. It accrues into the token's net asset value.
Request the offering memorandumEach subscription is recorded as a Daml contract naming three parties: the investor, the fund operator, and the custodian holding the underlying instruments.
The fund operator is the sole signatory authorized to update the portfolio's holdings record. The investor and the custodian are named observers, entitled to see the complete record of the position at all times.
This is a structural difference from a traditional fund register, in which an investor typically receives a periodic statement rather than continuous visibility into the record itself.
Sub-transaction privacy allows subscription and redemption instructions to remain visible only to the investor, the fund operator, and the transfer function, while the published net asset value remains available to any party the fund operator designates, including a regulator.
Canton's architecture permits a regulator to be named as an observer party on the fund's contracts directly, receiving a continuous, real-time record rather than a periodic report.
Settlement of a subscription or redemption is atomic: the transfer of the token and the movement of cash occur within a single transaction, or neither occurs. This removes the multi-day settlement lag characteristic of traditional fund operations.
The net asset value of the fund can decline, and an investor may receive less than the amount subscribed.
An interest in the fund is not a deposit and is not insured by any government deposit insurance scheme.
The underlying portfolio carries interest rate risk and the credit risk of its counterparties and issuers, notwithstanding its short duration.
The fund operator may delay or gate redemptions during periods of market stress, in accordance with the terms of the governing contract.
The smart contracts governing subscription, redemption, and valuation may contain errors notwithstanding review, and any such error may affect an investor's position.
Verix has not yet operated in production and has no historical performance record. Any figures presented on this page are illustrative.
Prospective investors are invited to request the offering memorandum for a complete description of the fund's terms, fees, and risks.
Contact investor relations: ir@verix.lol