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What does the weighted average maturity of a fund mean?

April 26, 2017average fund maturity mean weighted

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What does the weighted average maturity of a fund mean?

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The weighted average maturity, or WAM, of a fund is a measure of the length of time to maturity of all of the underlying money market instruments in the fund weighted to reflect the relative holdings in each instrument. In practice this measure is an indication of current investment strategy and is not an indication of liquidity.