About the Trust
About the Trust
Background
Since 2002, the IIIT Class has been serving the investment and arbitrage compliance needs of Illinois public agencies. The investment options offered to public agencies through the IIIT Class are the Trust and individual portfolios. Arbitrage rebate compliance services are available for bond proceeds invested through the Trust.
Investment options and services
The Illinois Trust’s Declaration of Trust provides for the creation of multiple specialized investment series within the Trust. Currently, investment options offered to public agencies are the IIIT Class and Illinois TERM. The Trust also offers additional services authorized by the Board of Trustees and provided the Trust’s investment adviser.
Investment Options | ||
Illinois Portfolio - IIIT Class | Illinois Term | |
Investment Period | One Day Minimum | 60 Day Minimum 1 Year Maximum |
Balance Requirements | $1.00 | $100,000 Minimum |
Additional Deposits | No Minimum | $100,000 Minimum |
Statements | Daily Confirmation Monthly Statement | Daily Confirmation Monthly Statement |
Withdrawals | No Minimum | At Maturity |
Transaction Charges & Fees | None | None |
Accounts | Unlimited | Unlimited |
Interest Earnings | Calculated Daily/Paid Monthly | Paid at Maturity OR Early Redemption Early Redemption at any time other that on a Planned Early Redemption date may result in a substantial early redemption penalty. |
Rating | AAAm by S&P Global1 | AAAf by Fitch Ratings2 |
Additional Products
The following products and services are authorized by the Board of Trustees and are available under a separate agreement with the investment adviser. These services are provided by PFM Asset Management3 (PFMAM):
Individually Managed Portfolios
Separate Account Management (SAM) - PFMAM creates a customized investment strategy and portfolio for your entity. This process includes:
- Asset/liability review
- Cash flow review and analysis
- Investment policy review
- Establishment of acceptable benchmarks
- Development of an optimal investment portfolio
- Third-party safekeeping
- Ongoing active management of investments.
Bond Account Management
Investment Options:
- BAM: PFMAM manages bond proceeds and performs arbitrage rebate calculations
- Laddered Portfolio: Matches maturities to meet expected cash flow needs and arbitrage rebate requirements.
Individually managed portfolios are automatically linked to the investor’s Illinois Portfolio account so that maturities and coupon payments are invested at all times. Individually managed portfolios, which are not a part of the Trust, are available under a separate agreement with the investment adviser.
Certificates of Deposit (CD) Investment Program
- Investors can purchase CDs insured by the Federal Deposit Insurance Corporation to meet their specific cash flow needs.
- All CDs are quoted in both gross and net rates, in full disclosure of investment advisory fees.
1 S&P Global AAAm Rating: S&P evaluates a number of factors, including credit quality, market price, exposure, and management. Please visit SPGlobal.com/Ratings for more information and ratings methodology.
2 Fitch AAAf Rating: portfolios with this rating indicate having the highest underlying credit quality. Please visit fitchratings.com for more information and ratings methodology.
3 PFM Asset Management is a division of U.S. Bancorp Asset Management Inc., the Illinois Trust’s investment adviser and administrator, that services public sector clients.
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IMPORTANT MESSAGE: Veterans Day holiday
IMPORTANT MESSAGE: Due to the Veterans Day holiday, the Fund will be closed on Monday, November 11, 2024.
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Updated Information Statement Available
An updated Information Statement, dated October 1, 2024, is now available for review. Please click here to access the document. If you have any questions, please email CSGMWW@pfmam.com.
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Alert: Technical Issue
Due to a technical issue, the publication of monthly statements for fixed income separately managed accounts will be delayed. We are working to resolve this issue as soon as possible.
We apologize for any inconvenience. Should you have questions or require assistance, please contact your Relationship Manager or the Client Services Group.
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