Local Government Investment Pool (LGIP) Performance

Q3 FY 2013 Performance Statistics

Any public entity in the state may participate in the LGIP program. It is structured to provide participants safety of principal, daily liquidity followed by investment income — in that order.

pool 5

Pool 5 is a diversified short-term fund similar to a prime money market fund. At the end of the quarter this pool had $1.25 billion in assets with a Net Asset Value of $1.00 as of 3/31/13. The fund continues to maintain the highest rating from Standard & Poor’s (AAAF/S1+) with a Weighted Average Maturity of 24 days.

Year to date, Pool 5 has beaten its benchmark by 12 basis points – net of fees.

pool 7

Pool 7 is a short-term fund that invests in only products backed by the full faith and credit of the United State Government. At the end of the quarter this pool had $1.26 billion in assets with a Net Asset Value of $1.000 as of 3/31/13. Because Pool 7 invests in securities backed by the U.S. Government, it has a AA+ weighted average rating and has a Weighted Average Maturity of 40 days.

Year to date, Pool 7 is exceeding the benchmark by 4 basis points.

pool 500

Pool 500 is a medium-term fund. At the end of the quarter this pool had $305.7 million in assets and a Floating Net Asset Value of $1.0408 as of 3/31/13. The weighted average rating of all the securities in this pool is AA with an effective duration of 1.32 years.

Year to date, Pool 500 is exceeding the benchmark by 42 basis points.

pool 700

Pool 700 is a full faith and credit medium-term fund. At the end of the quarter this pool had $244.5 million in assets with a Floating Net Asset Value of $1.0146 as of 3/31/13. Because Pool 700 invests in securities backed by the U.S. Government, it has a AA+ weighted average rating. Its effective duration at the end of June was 1.49 years.

Year to date, Pool 700 is exceeding the benchmark by 46 basis points.