Short-term cash portfolios gained an average of 6.09% in 1995...

Short-term cash portfolios gained an average of 6.09% in 1995, according to the Yanni-Bilkey CA$H universe, compared with 4.38% in 1994. By comparison, 90-day Treasury bills gained 5.7%. The average maturity of the CA$H universe increased to 48 days at year-end 1995 from 42 days at the end of 1994. Most other portfolio characteristics of the CA$H universe didn't change significantly. Domestic commercial paper represented about 31% of assets; short-term U.S. government and agency paper about 19%; and repos, about 15%.