Local Government Investment Pool (LGIP) Performance
Q2 FY 2017 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.
Monthly LGIP performance is reviewed by the Board of Investment. Detailed reports can be viewed here.
Pool 5 is a diversified short-term fund similar to a prime money market fund. As of December 31, 2016 this pool had $1.25 billion in assets with a Net Asset Value of $1.00. The fund continues to maintain the highest rating from S&P (AAA f/S1+) with a Weighted Average Maturity of 21.9 days.
Pool 7 is a short-term fund that invests in only products backed by the full faith and credit of the United State Government. As of December 30, 2016 this pool had $1.2 billion in assets with a Net Asset Value of $1.00. Because Pool 7 invests in securities backed by the U.S. Government, it has a AAA weighted average rating. Its Weighted Average Maturity is 47.5 days.
Pool 500 is a medium-term fund. As of December 30, 2016 this pool had $288 million in assets and a Floating Net Asset Value of $1.03. The weighted average rating of all the securities in this pool is AA-2 with an effective duration of 1.34 years.
Pool 700 is a full faith and credit medium-term fund. As of December 30, 2016 this pool had $145 million in assets with a Floating Net Asset Value of $1.01. Because Pool 700 invests in securities backed by the U.S. Government, it has a AAA weighted average rating. Its effective duration at the end of December was 1.98 years.