MNTrust/PMA Achieves Significant Milestone – Reaching $4B in Fund Assets
MNTrust (the “Fund”), along with PMA, a premier full-service provider of financial and advisory services to local governments, achieved a significant milestone by reaching $4 billion in assets in MNTrust and its Fixed Income Investment Program as of June 5, 2024.
Established in 2006 and governed by a Board of Trustees comprised of MNTrust Participants, MNTrust has provided significant value to Minnesota schools. MNTrust offers a pooled money market product and a complete financial management resource for school districts, including a comprehensive menu of allowable investment options, banking services (through the Fund’s custodial bank), cash flow management and bond proceeds management. In addition to the high mark in assets, MNTrust has also grown to more than 210 Participants.
Kent Johnson, Senior Vice President, Director, said “We are proud to serve more than 200 school district clients across Minnesota and are honored to see that these partners continue to put their faith in our team. Through MNTrust, our Participants can maximize interest earnings so that they can invest more dollars in their classrooms and communities.” Johnson said. “Reaching the $4 billion milestone is remarkable growth and something we celebrate alongside our wonderful clients.”
“From day one, our MNTrust Board of Directors said that adding competition to the market would be a great benefit for school districts. We believe that this vision is playing out just as they had hoped,” said Steve Pumper, Senior Vice President. “We are proud of the work that our growing Minnesota team is doing to provide high touch investment services for our school clients.”
“With a strong understanding of our clients’ needs, PMA has established itself as a leading provider of holistic financial solutions to public entities”, said Michele Wiberg, PMA Chief Sales & Marketing Officer. “Our approach to managing public funds is built around the tenets of safety, liquidity and yield and we look forward to continuing to bring these values to MNTrust and its Participants.”
ABOUT THE PMA COMPANIES
PMA Financial Network, LLC, PMA Securities, LLC and PMA Asset Management, LLC (“the PMA companies” or “PMA”) are under common ownership. The PMA companies serve over 4,000 municipalities, school districts, local government investment pools, insurance companies and other institutions across 12 states by providing investment, financial management and fund administration services. The PMA companies provide a comprehensive array of discretionary and non-discretionary investment advice to our clients through pooled, separate accounts and self-directed investment solutions, in addition to public finance services. As of March 31, 2024, the PMA companies had over $46 billion in assets under administration. Total assets under administration include both money market pool assets for which the PMA companies serve as fund administrator/accountant, marketer/distributor, fixed income program provider (brokerage services), and/or investment advisory, or separate institutional account management.
