UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-21622
Thrivent Cash Management Trust
(Exact name of registrant as specified in charter)
625 Fourth Avenue South
Minneapolis, Minnesota 55415
(Address of principal executive offices) (Zip code)
Michael W. Kremenak, Secretary and Chief Legal Officer
625 Fourth Avenue South
Minneapolis, Minnesota 55415
(Name and address of agent for service)
Registrants telephone number, including area code: (612) 844-4198
Date of fiscal year end: October 31
Date of reporting period: April 28, 2017
Item 1. | Report to Stockholders |
SEMIANNUAL REPORT
APRIL 28, 2017
THRIVENT CASH MANAGEMENT TRUST
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THRIVENT CASH MANAGEMENT TRUST
William D. Stouten, Portfolio Manager
Thrivent Cash Management Trust (the Trust) seeks to maximize current income to the extent consistent with the preservation of capital and maintenance of liquidity. The Trust qualifies as a government money market fund under money market rules established by the Securities and Exchange Commission (SEC). As a government money market fund, the Trust is allowed to use a stable $1.00 NAV and is not required to impose redemption gates or liquidity fees. However, it must invest at least 99.5% of its total assets in government securities, cash, and repurchase agreements collateralized by government securities. The Trust is also required to maintain a weighted average maturity (WAM) of not more than 60 days and a weighted average life (WAL) of not more than 120 days.
Portfolio Composition (% of Portfolio) |
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U.S. Government Agency Debt |
71.3% | |||
U.S. Treasury Debt |
14.8% | |||
Investment Company |
13.9% | |||
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Total |
100.0% |
Thrivent Cash Management Trust
As of April 28, 2017*
7-Day Yield |
0.76 | % | ||
7-Day Yield Gross of Waivers |
0.73 | % | ||
7-Day Effective Yield |
0.76 | % | ||
7-Day Effective Yield Gross of Waivers |
0.73 | % |
Average Annual Total Returns**
For the Period Ended April 28, 2017 |
1- Year |
5- Year |
10- Year |
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Total Return |
0.50 | % | 0.18 | % | 0.81 | % |
* | Seven-day yields of the Thrivent Cash Management Trust refer to the income generated by an investment in the Trust over a specified seven-day period. Effective yields reflect the reinvestment of income. A yield gross of waivers represents what the yield would have been if the investment adviser were not waiving or reimbursing certain expenses. Yields are subject to daily fluctuation and should not be considered an indication of future results. |
** | Average annual total returns represent past performance and reflect changes in share prices, the reinvestment of all dividends and capital gains, and the effects of compounding. The returns shown do not reflect taxes a shareholder would pay on distributions or redemptions. |
Past performance is not an indication of future results. Current performance may be lower or higher than the performance data quoted. The prospectus contains more complete information on the investment objectives, risks, charges and expenses of the Trust. Investors should read and consider carefully before investing. To obtain a prospectus, call 1-800-THRIVENT.
An investment in the Trust is not insured or guaranteed by the FDIC or any other government agency. Although the Trust seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Trust.
2
(unaudited)
As a shareholder of the Trust, you incur ongoing costs, including management fees and other Trust expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Trust and to compare these costs with the ongoing costs of investing in other mutual funds. The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period from November 1, 2016 through April 28, 2017.
Actual Expenses
In the table below, the first line provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled Expenses Paid during Period to estimate the expenses you paid on your account during the period.
Hypothetical Example for Comparison Purposes
In the table below, the second line provides information about hypothetical account values and hypothetical expenses based on the Trusts actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Trusts actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Trust and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical example that appears in the shareholder reports of the other funds.
Beginning Account Value 11/1/2016 |
Ending Account Value 4/28/2017 |
Expenses Paid
During Period 11/1/2016 - 4/28/2017* |
Annualized Expense Ratio |
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Thrivent Cash Management Trust |
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Actual |
$ | 1,000 | $ | 1,003 | $ | 0.25 | 0.05 | % | ||||||||
Hypothetical** |
$ | 1,000 | $ | 1,025 | $ | 0.25 | 0.05 | % |
* | Expenses are equal to the Funds annualized expense ratio, multiplied by the average account value over the period, multiplied by 179/365 to reflect the one-half year period. |
** | Assuming 5% annualized total return before expenses. |
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THRIVENT CASH MANAGEMENT TRUST
Schedule of Investments as of April 28, 2017
(unaudited)
The accompanying Notes to Financial Statements are an integral part of this schedule. |
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THRIVENT CASH MANAGEMENT TRUST
Schedule of Investments as of April 28, 2017
(unaudited)
Fair Valuation Measurements
The following table is a summary of the inputs used, as of April 28, 2017, in valuing Cash Management Trusts assets carried at fair value or amortized cost, which approximates fair value.
Investments in Securities |
Total | Level 1 | Level 2 | Level 3 | ||||||||||||
Investment Company |
76,820,000 | 76,820,000 | | | ||||||||||||
U.S. Government Agency Debt |
392,459,752 | | 392,459,752 | | ||||||||||||
U.S. Treasury Debt |
81,655,307 | | 81,655,307 | | ||||||||||||
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Total |
$ | 550,935,059 | $ | 76,820,000 | $ | 474,115,059 | $ | | ||||||||
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There were no significant transfers between Levels during the period ended April 28, 2017. Transfers between Levels are identified as of the end of the period.
The accompanying Notes to Financial Statements are an integral part of this schedule. |
5
THRIVENT CASH MANAGEMENT TRUST
Statement of Assets and Liabilities
As of April 28, 2017 (unaudited) |
Cash Management Trust |
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Assets |
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Investments at cost |
$ | 550,935,059 | ||
Investments in securities at value |
550,935,059 | |||
Investments at Value |
550,935,059 | * | ||
Cash |
1,240 | |||
Dividends and interest receivable |
316,011 | |||
Prepaid expenses |
6,277 | |||
Prepaid trustee fees |
1,091 | |||
Receivable for: |
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Expense reimbursements |
13,920 | |||
Total Assets |
551,273,598 | |||
Liabilities |
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Distributions payable |
318,733 | |||
Accrued expenses |
24,646 | |||
Payable for: |
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Investments purchased |
3,498,396 | |||
Investment advisory fees |
18,400 | |||
Administrative fees |
6,998 | |||
Commitments and contingent liabilities^ |
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Total Liabilities |
3,867,173 | |||
Net Assets |
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Capital stock (beneficial interest) |
547,430,418 | |||
Accumulated undistributed net investment income/(loss) |
(21,835 | ) | ||
Accumulated undistributed net realized gain/(loss) |
(2,158 | ) | ||
Total Net Assets |
$ | 547,406,425 | ||
Shares of beneficial interest outstanding |
547,430,418 | |||
Net asset value per share |
$ | 1.00 |
* | Securities held by this Trust are valued on the basis of amortized cost, which approximates market value. |
^ | Commitments and contingent liability accrual. Additional information can be found in the accompanying Notes to Financial Statements. |
The accompanying Notes to Financial Statements are an integral part of this statement.
6
THRIVENT CASH MANAGEMENT TRUST
For the six months ended April 28, 2017 (unaudited) |
Cash Management Trust |
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Investment Income |
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Dividends |
$ | 196,373 | ||
Interest |
1,610,883 | |||
Total Investment Income |
1,807,256 | |||
Expenses |
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Adviser fees |
128,755 | |||
Administrative service fees |
44,498 | |||
Audit and legal fees |
16,526 | |||
Custody fees |
12,930 | |||
Insurance expenses |
2,207 | |||
Printing and postage expenses |
3,233 | |||
Transfer agent fees |
14,833 | |||
Trustees fees |
3,817 | |||
Other expenses |
5,811 | |||
Total Expenses Before Reimbursement |
232,610 | |||
Less: |
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Reimbursement from adviser |
(89,516 | ) | ||
Total Net Expenses |
143,094 | |||
Net Investment Income/(Loss) |
1,664,162 | |||
Realized and Unrealized Gains/(Losses) |
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Net realized gains/(losses) on: |
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Investments |
(2,132 | ) | ||
Net Realized and Unrealized Gains/(Losses) |
(2,132 | ) | ||
Net Increase/(Decrease) in Net Assets Resulting From Operations |
$ | 1,662,030 |
The accompanying Notes to Financial Statements are an integral part of this statement.
7
THRIVENT CASH MANAGEMENT TRUST
Statement of Changes in Net Assets
Cash Management Trust | ||||||||
For the periods ended |
4/28/2017 (unaudited) |
10/31/2016 | ||||||
Operations |
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Net investment income/(loss) |
$ | 1,664,162 | $ | 5,496,322 | ||||
Net realized gains/(losses) |
(2,132 | ) | 51,208 | |||||
Net Change in Net Assets Resulting From Operations |
1,662,030 | 5,547,530 | ||||||
Distributions to Shareholders |
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From net investment income |
(1,687,846 | ) | (5,496,323 | ) | ||||
From net realized gains |
(51,232 | ) | (3,295 | ) | ||||
Total Distributions to Shareholders |
(1,739,078 | ) | (5,499,618 | ) | ||||
Capital Stock Transactions |
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Sold |
2,969,499,605 | 14,119,081,410 | ||||||
Redeemed |
(3,079,606,540 | ) | (15,717,344,961 | ) | ||||
Total Capital Stock Transactions |
(110,106,935 | ) | (1,598,263,551 | ) | ||||
Net Increase/(Decrease) in Net Assets |
(110,183,983 | ) | (1,598,215,639 | ) | ||||
Net Assets, Beginning of Period |
657,590,408 | 2,255,806,047 | ||||||
Net Assets, End of Period |
$ | 547,406,425 | $ | 657,590,408 | ||||
Accumulated Undistributed Net Investment Income/(Loss) |
$ | (21,835 | ) | $ | 1,849 | |||
Capital Stock Share Transactions |
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Sold |
2,969,499,605 | 14,119,081,411 | ||||||
Redeemed |
(3,079,606,540 | ) | (15,717,344,962 | ) | ||||
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Total Capital Stock Share Transactions |
(110,106,935 | ) | (1,598,263,551 | ) | ||||
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The accompanying Notes to Financial Statements are an integral part of this statement.
8
THRIVENT CASH MANAGEMENT TRUST
April 28, 2017
(unaudited)
9
THRIVENT CASH MANAGEMENT TRUST
NOTES TO FINANCIAL STATEMENTS
April 28, 2017
(unaudited)
10
THRIVENT CASH MANAGEMENT TRUST
NOTES TO FINANCIAL STATEMENTS
April 28, 2017
(unaudited)
11
THRIVENT CASH MANAGEMENT TRUST
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD *
Income From Investment Operations | Less Distributions From |
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Net Asset Value, Beginning of Period |
Net Investment Income/ (Loss) |
Net Realized and Unrealized Gain/(Loss) on Investments(a) |
Total from Investment Operations |
Net Investment Income |
Net Realized Gain on Investments |
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CASH MANAGEMENT TRUST |
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Period Ended 4/28/2017 (unaudited) |
$ | 1.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||
Year Ended 10/31/2016 |
1.00 | 0.00 | 0.00 | 0.00 | 0.00 | | ||||||||||||||||||
Year Ended 10/31/2015 |
1.00 | 0.00 | 0.00 | 0.00 | 0.00 | | ||||||||||||||||||
Year Ended 10/31/2014 |
1.00 | 0.00 | 0.00 | 0.00 | 0.00 | | ||||||||||||||||||
Year Ended 10/31/2013 |
1.00 | 0.00 | 0.00 | 0.00 | 0.00 | | ||||||||||||||||||
Year Ended 10/31/2012 |
1.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
(a) | The amount shown may not correlate with the change in aggregate gains and losses of portfolio securities due to the timing of sales and redemptions of portfolio shares. |
(b) | Total investment return assumes dividend reinvestment and does not reflect any deduction for applicable sales charges. Not annualized for periods less than one year. |
* | All per share amounts have been rounded to the nearest cent. |
** | Computed on an annualized basis for periods less than one year |
The accompanying Notes to Financial Statements are an integral part of this statement.
12
THRIVENT CASH MANAGEMENT TRUST
FINANCIAL HIGHLIGHTSCONTINUED
RATIOS/SUPPLEMENTAL DATA
Ratio to Average Net Assets** | Ratio to Average Net Assets Before Expenses Waived, Credited or Paid Indirectly** |
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Total |
Net Asset Value, End of Period |
Total Return(b) |
Net Assets, End of Period (in millions) |
Expenses | Net
Investment Income/(Loss) |
Expenses | Net
Investment Income/(Loss) |
Portfolio Turnover Rate |
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$ 0.00 |
$ | 1.00 | 0.30 | % | $ | 547.4 | 0.05 | % | 0.58 | % | 0.08 | % | 0.55 | % | N/A | |||||||||||||||||
0.00 |
1.00 | 0.31 | % | 657.6 | 0.05 | % | 0.27 | % | 0.06 | % | 0.26 | % | N/A | |||||||||||||||||||
0.00 |
1.00 | 0.07 | % | 2,255.8 | 0.05 | % | 0.07 | % | 0.06 | % | 0.06 | % | N/A | |||||||||||||||||||
0.00 |
1.00 | 0.05 | % | 1,736.6 | 0.05 | % | 0.05 | % | 0.06 | % | 0.04 | % | N/A | |||||||||||||||||||
0.00 |
1.00 | 0.09 | % | 1,793.6 | 0.05 | % | 0.09 | % | 0.06 | % | 0.09 | % | N/A | |||||||||||||||||||
0.00 |
1.00 | 0.13 | % | 2,553.8 | 0.05 | % | 0.12 | % | 0.08 | % | 0.09 | % | N/A |
The accompanying Notes to Financial Statements are an integral part of this statement.
13
(Unaudited)
PROXY VOTING
The policies and procedures that the Trust uses to determine how to vote proxies relating to portfolio securities are attached to the Trusts Statement of Additional Information. You may request a free copy of the Statement of Additional Information or the report of how the Trust voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 by calling 1-800-847-4836. You also may review the Statement of Additional Information or the report of how the Trust voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 at www.sec.gov.
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
The Trust files its Schedule of Portfolio Holdings on Form N-Q with the SEC for the first and third quarters of each fiscal year. You may request a free copy of the Trusts Forms N-Q by calling 1-800-847-4836. The Trusts Forms N-Q also are available at www.sec.gov. You also may review and copy the Forms N-Q for the Trust at the SECs Public Reference Room in Washington, DC. You may get information about the operation of the Public Reference Room by calling 1-800-SEC-0330.
BOARD APPROVAL OF ADVISORY AGREEMENT
Both the Investment Company Act of 1940 (the Investment Company Act) and the terms of the Advisory Agreement of the Thrivent Cash Management Trust (the Trust) require that the agreement be approved annually by the Board of Trustees (the Board), including a majority of the Trustees who are not interested persons of the Trust, as defined in the Investment Company Act (the Independent Trustees). The ten-member Board includes eight Independent Trustees, including the Chairman.
At its meeting on November 15-16, 2016, the Board voted unanimously to renew the existing Advisory Agreement, as amended, between the Trust and Thrivent Financial for Lutherans (the Adviser). In connection with its evaluation of the agreement with the Adviser, the Board reviewed a broad range of information requested for this purpose and considered a variety of factors, including the following:
1. | The nature, extent, and quality of the services provided by the Adviser; |
2. | The performance of the Trust; |
3. | The advisory fee and net operating expense ratio of the Trust compared to a peer group; |
4. | The cost of services provided and profit realized by the Adviser; |
5. | The extent to which economies of scale may be realized as the Trust grows; |
6. | Whether fee levels reflect these economies of scale for the benefit of the Trust shareholders; |
7. | Other benefits realized by the Adviser and its affiliates from their relationship with the Trust; and |
8. | Any other factors that the Board deemed relevant to its consideration. |
In connection with the renewal process, the Contracts Committee of the Board (consisting of all of the Independent Trustees) met on five occasions from May 24 to November 16, 2016 to consider information relevant to the renewal process. The Independent Trustees also retained the services of Management Practice Inc. (MPI) as an independent consultant to assist in the compilation, organization, and evaluation of relevant information. This information included statistical comparisons of the advisory fees, other fees and net operating expenses of the Trust in comparison to a peer group of comparable funds; information with respect to services provided to the Trust and fees charged, including the effective advisory fee that takes into account fee waivers by the Adviser; asset and flow trends for the Trust; the Trusts performance; and information regarding the types of services furnished to the Trust.
14
ADDITIONAL INFORMATION
(Unaudited)
The Board received information from the Adviser regarding the personnel providing services to the Trust, including investment management, compliance and administrative personnel. The Board also received reports from the Adviser with respect to the securities lending balances of the Trust and the revenue of the securities lending program, which in part is based on the performance of the Trust. In addition to its review of the information presented to the Board during the contract renewal process and throughout the year, the Board considered knowledge gained from discussions with management. The Board also reviewed information from MPI, including a tailored analysis and independent assessment of information relating to the Trust.
The Independent Trustees were represented by independent counsel throughout the review process and during executive sessions without management present to consider reapproval of the agreement. As noted above, the Independent Trustees were assisted throughout the process by an independent consultant, MPI. Each Independent Trustee relied on his or her own business judgment in determining the weight to be given to each factor considered in evaluating the materials that were presented to them. The Contracts Committees and Boards review and conclusions were based on a comprehensive consideration of all information presented to them and were not the result of any single controlling factor. In addition, each Trustee may have weighed individual factors differently. The key factors considered and the conclusions reached are described below.
Nature, Extent and Quality of Services
At each of the Boards regular quarterly meetings, management presented information describing the services furnished to the Trust by the Adviser, transfer agent and administrator. During these meetings, management reported on the investment management, securities lending activity, and compliance services provided to the Trust. During the renewal process, the Board considered the specific services provided by the Adviser. The Board also considered information relating to the investment experience and qualifications of the Advisers portfolio manager overseeing investments for the Trust.
The Board received reports at each of its quarterly meetings from the Advisers Head of Fixed Income Funds and its Chief Investment Officer, both of whom were present at all of the meetings. At each quarterly meeting, the Head of Fixed Income Funds presented information about the Trust. These reports and presentations gave the Board the opportunity to evaluate the portfolio managers abilities and the quality of services he provides to the Trust. The Adviser and the Trusts Chief Compliance Officer presented information to the Board describing the portfolio compliance functions performed by the Adviser. The Independent Trustees also met in-person, including in executive session, with and received quarterly reports from the Trusts Chief Compliance Officer.
The Board considered the adequacy of the Advisers resources used to provide services to the Trust. The Adviser reviewed with the Board the Advisers process for overseeing the portfolio manager. In addition, the Adviser noted that its investments in technology and personnel have benefitted the Trust and discussed continued investments in these resources. The Adviser also discussed how it has continued to strengthen its compliance program. The Board viewed these actions as a positive factor in reapproving the existing Advisory Agreement, as they demonstrated the Advisers commitment to provide the Trust with quality service.
The Board concluded that, within the context of its full deliberations, the nature, extent and quality of the investment advisory services provided to the Trust by the Adviser supported renewal of the Advisory Agreement.
Performance of the Trust
The Board considered whether the Trust has operated in accordance with its investment objectives, which include maximizing current income consistent with preservation of capital and liquidity. In this regard, the Board reviewed stress test reports and considered the Advisers opinion that, in its view, the Trust could withstand events that were reasonably likely to occur within the next twelve-month period. At quarterly meetings, the Head of Fixed Income Funds reviewed with the Board the economic and market environment and risk management in connection with management of the Trust and other Thrivent fixed income funds. The Board noted that, as a money market fund, the Trusts performance was impacted by various factors, including the continuing low interest rate environment and increased regulatory requirements generally experienced by all money market funds.
15
ADDITIONAL INFORMATION
(Unaudited)
The Board reviewed quarterly net revenues generated by securities lending activities for the benefit of other Thrivent funds, a portion of which is attributed to the performance of the Trust. The Board noted that, subsequent to the introduction in May 2016 of another Thrivent fixed income fund used to offer a sweep option for other investment companies managed by the Adviser or its affiliates, the Trust is designed primarily for the investment and reinvestment of cash collateral on behalf of lenders participating in the Trusts securities lending program. With respect to performance, the Board considered safety of principal to be the primary goal, and it did not consider specific yield information separate from the securities lending revenue.
Advisory Fees and Fund Expenses
The Board reviewed information prepared by MPI comparing the Trusts advisory fee with the advisory fees of its peer group of funds. The Board noted that the Trusts advisory fee as compared to the Trusts peer group was below the average. On the basis of its review, the Board concluded that the advisory fee rate charged to the Trust for investment management services was reasonable.
The Board also reviewed information prepared by the Adviser comparing the Trusts net expense ratio with the expense ratio of its peer group of funds. The Board noted that the Trusts net expense ratio was below the average of its peer group.
Cost of Services and Profitability
The Board considered the profitability of the Adviser both overall and on a fund-by-fund basis. The Board also considered that the Adviser agreed to voluntarily reimburse the Trust for all expense in excess of 0.05% of average daily net assets. The Board considered the level of the Advisers profits with respect to all the Thrivent funds, including the Trust. The Board received a comprehensive presentation that discussed, among other things, profitability benchmarks and trends based on a sample of asset managers, as well as the Advisers view of its profitability. The Board concluded that the Advisers profitability was not excessive in light of the nature, extent and quality of services provided to the Trust.
Economies of Scale
The Board considered information regarding the extent to which economies of scale may be realized as the Trusts assets increase and whether the fee levels reflect these economies of scale for the benefit of shareholders. The Adviser explained its general goal with respect to the employment of fee waivers, expense reimbursements, and breakpoints. The Board also considered managements view that it is difficult to generalize as to whether, or to what extent, economies in the advisory function may be realized as the Trusts assets increase. The Board noted that expected economies of scale, where they exist, may be shared through the use of fee waivers or reimbursements by the Adviser and/or a lower overall fee rate. The Board considered the advisory fee rate charged to the Trust and determined that the fee rate was acceptable even though the Adviser did not offer breakpoints or contractual waivers, in part because of its agreement to voluntarily reimburse the Trust for all expense in excess of 0.05% of average daily net assets.
Other Benefits to the Adviser and its Affiliates
The Board considered information regarding potential fall-out or ancillary benefits that the Adviser and its affiliates may receive as a result of their relationship with the Trust, both tangible and intangible, such as their ability to leverage investment professionals who manage other portfolios, an enhanced reputation as an investment adviser which may help in attracting other clients and investment personnel, and the engagement of affiliates as service providers to the Trust. The Board noted that such benefits were difficult to quantify but were consistent with benefits received by other mutual fund advisers.
Based on the factors discussed above, the Contracts Committee unanimously recommended approval of the Advisory Agreement, and the Board, including all of the Independent Trustees voting separately, approved the Advisory Agreement.
16
This report is submitted for the information of shareholders of
Thrivent Cash Management Trust. It is not authorized
for distribution to prospective investors unless preceded or
accompanied by the current prospectus for Thrivent Cash
Management Trust, which contains more complete
information about the Trust, including investment objectives,
risks, charges and expenses.
Item 2. | Code of Ethics |
Not applicable to semiannual report
Item 3. | Audit Committee Financial Expert |
Not applicable to semiannual report
Item 4. | Principal Accountant Fees and Services |
Not applicable to semiannual report
Item 5. | Audit Committee of Listed Registrants |
Not applicable
Item 6. | Investments |
(a) | Registrants Schedule of Investments is included in the report to shareholders filed under Item 1. |
(b) | Not applicable to this filing. |
Item 7. | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies |
Not applicable
Item 8. | Portfolio Managers of Closed-End Management Investment Companies |
Not applicable
Item 9. | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers. |
Not applicable
Item 10. | Submission of Matters to a Vote of Security Holders |
There have been no material changes to the procedures by which shareholders may recommend nominees to registrants board of trustees.
Item 11. | Controls and Procedures |
(a)(i) Registrants President and Treasurer have concluded that registrants disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) Registrants President and Treasurer are aware of no change in registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, registrants internal control over financial reporting.
Item 12. | Exhibits |
Certifications pursuant to Rules 30a-2(a) and 30a-2(b) under the Investment Company Act of 1940 are attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: June 27, 2017 | THRIVENT CASH MANAGEMENT TRUST | |||||
By: | /s/ David S. Royal | |||||
David S. Royal | ||||||
President |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
Date: June 27, 2017 | By: | /s/ David S. Royal | ||||
David S. Royal | ||||||
President | ||||||
Date: June 27, 2017 | By: | /s/ Gerard V. Vaillancourt | ||||
Gerard V. Vaillancourt | ||||||
Treasurer |
CERTIFICATION BY PRESIDENT
I, David S. Royal, certify that:
1. | I have reviewed this report on Form N-CSR of Thrivent Cash Management Trust; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
4. | The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and |
d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer(s) and I have disclosed to registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and |
b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
Date: June 27, 2017 | /s/ David S. Royal | |||
David S. Royal | ||||
President |
CERTIFICATION BY TREASURER
I, Gerard V. Vaillancourt, certify that:
1. | I have reviewed this report on Form N-CSR of Thrivent Cash Management Trust; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
4. | The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and |
d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer(s) and I have disclosed to registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and |
b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
Date: June 27, 2017 | /s/ Gerard V. Vaillancourt | |||
Gerard V. Vaillancourt | ||||
Treasurer |
CERTIFICATION UNDER SECTION 906 OF SARBANES-OXLEY ACT OF 2002
Name of Registrant: Thrivent Cash Management Trust
In connection with the Report on Form N-CSR for the above-named issuer, the undersigned hereby certify, to the best of their knowledge, that:
1. | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
2. | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Issuer. |
Date: June 27, 2017 | ||||||
/s/ David S. Royal | ||||||
David S. Royal | ||||||
President | ||||||
Date: June 27, 2017 | ||||||
/s/ Gerard V. Vaillancourt | ||||||
Gerard V. Vaillancourt | ||||||
Treasurer |