Important announcement from your program’s investment advisor.
We are excited to announce that effective December 7, 2021, PFM Asset Management LLC (PFMAM) is now a subsidiary of U.S. Bancorp Asset Management, Inc. The acquisition was initially announced July 8. PFM Asset Management will continue to operate as a separate registered investment advisor serving your program. Click here for more information
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The Texas Range Investment Program ("Texas Range" or the "Program") was created by and for Texas local governments. The Program provides investment options tailored to the needs of Texas cities, counties, school districts and other public investors. The Texas Range portfolios seek to provide these investors with safety, flexibility and competitive yields.
Investments Designed for Texas Public Fund Investors
Texas Range provides a series of professionally managed investment options to public fund investors in the State of Texas.
The Program offers four distinct investment options:
TexasTERM Certificates of Deposit Purchase Program
Committed to meeting the needs of Texas public investors, the Program:
- Investments are designed to comply with applicable Texas statutes and meets the high standards imposed by Texas Range
- Is established as a public funds investment pool under the Public Funds Investment Act
- Investors have selected an Advisory Board to oversee the management of the Program
For More Information
*AAAmmf Fitch Rating
The TexasDAILY and TexasDAILY Select portfolios have received a AAAmmf rating from Fitch Ratings ("Fitch"). The Fitch AAAmmf rating reflects Fitch's review of the portfolios' overall credit quality and diversification and low exposure to interest rate and spread risks as well as the capabilities and resources of PFM Asset Management LLC as investment adviser. According to Fitch's rating criteria, the AAAmmf rating signifies an extremely strong capacity to achieve the portfolios' investment objective of preserving principal and providing shareholder liquidity through limiting credit, market, and liquidity risk. However, it should be understood that this rating is not a "market" rating nor a recommendation to buy, hold or sell the securities. For a full description on rating methodology, visit Fitch Ratings.
**AAAf Fitch Rating
The TexasTERM portfolio has received a AAAf rating from Fitch. The rating reflects Fitch's review of the TexasTERM portfolio’s investment and credit guidelines, the portfolio's credit quality and diversification, as well as the capabilities of PFM Asset Management LLC as investment adviser. The Fitch AAAf rating indicates the highest underlying credit quality (or lowest vulnerability to default). However, it should be understood that this rating is not a "market" rating nor a recommendation to buy, hold or sell the securities. For a full description on rating methodology visit Fitch Ratings.