|The next TexasTERM Advisory Board meeting will be held at 12:00 p.m. CST on Friday, February 10, 2017 at PFM Asset Management LLC's offices located at 221 West 6th Street, Suite 1900, Austin, TX 78701.
The TexasTERM Local Government Investment Pool (the “Pool” or “TexasTERM”) was created by and for Texas local governments to provide investment programs tailored to the needs of Texas cities, counties, school districts and other public investors. TexasTERM portfolios seek to provide these investors with safety, flexibility and competitive yields.
Investments designed for Texas local governments
TexasTERM offers a series of professionally managed portfolios that are available to government entities in the State of Texas. The Pool currently offers four distinct investment options:
- TexasDAILY, a money market portfolio with daily liquidity that is rated AAAm* by Standard & Poor’s.
- TexasTERM, a fixed-rate, fixed-term portfolio, rated AAAf* by Standard & Poor’s, that enables investors to lock in a fixed rate for a term of 60 days to 365 days.
- TexasTERM CP, a fixed-rate, fixed-term portfolio investing in commercial paper with a minimum rating of A1/P1. Investors whose investment policies permit may lock in a rate for a term of 60 days to 270 days.
- TexasTERM Certificate of Deposit Purchase Program (“TexasTERM CD Purchase Program”), a fixed-rate, fixed-term investment option enabling Investors to invest in FDIC- insured CDs from banks throughout the United States. Participants may lock in a rate for a term of 90 days to 365 days. Each CD investment is held in the name of the Participant.
Distinctive structure, specialized focus
Since its inception, TexasTERM has been focused solely on the investment needs and objectives of Texas local governments:
- TexasTERM investments are designed to comply with all Texas statutes, including regulations for the allowable investment of public funds. In addition, all securities must further meet the Pool’s own high standards.
- TexasTERM is owned and operated by the Pool’s investors, allowing the Pool to remain focused on the particular needs of Texas’s municipal investors.
- The Pool’s investors elect Advisory Board Members who are responsible for overall management of the Pool, including formulation and implementation of investment and operating policies.
For More Information
To find out more about how TexasTERM can meet your needs, please call one of our Program Representatives at 1-866-839-8376.
*Standard & Poor’s fund ratings are based on analysis of credit quality, market price exposure and management. According to Standard & Poor’s rating criteria, the AAAm rating signifies excellent safety of invested principal and a superior capacity to maintain a $1.00 per share net asset value and the AAAf rating signifies that a portfolio’s holdings provide extremely strong protection against losses from credit defaults. However, it should be understood that these ratings are not “market” ratings or a recommendation to buy, hold or sell the securities. For a full description on rating methodology, visit Standard & Poor’s website (http://www.standardandpoors.com/en_US/web/guest/home).