PMA/ISJIT Achieves Significant Milestone –
Reaching $2B in Fund Assets
PMA, a premier full-service provider of financial and advisory services to local governments, along with the Iowa Schools Joint Investment Trust (ISJIT), achieved a significant milestone by reaching an all-time high of $2B in assets in ISJIT and its Fixed Term Automated (FTA) Program as of May 23, 2023.
ISJIT assists hundreds of Iowa school corporations in safely increasing their investment income. Since 1986, ISJIT has helped provide additional funds to increase the quality of educational services available to students across the state. In affiliation with the IASB, governed by a representative board of trustees and served by a dedicated team of professionals, ISJIT offers several investment alternatives to meet participants’ cash management needs.
Paul Kruse, PMA Senior Vice President, said “We are thrilled to have the support of so many local schools and are energized that we are continuing to serve students and schools across the state of Iowa.”
“With the guidance and oversight of the Iowa Board of Trustees, our services continually evolve to best meet the needs of Iowa schools,” added Caleb Walter, Vice President – Investment Services, PMA Financial Network. “We are proud of the work our team is doing and we are incredibly grateful to our clients for their confidence in us.”
RISING RATES
Following the Federal Reserve’s decision to raise interest rates on May 3, 2023, ISJIT’s Diversified Fund (DVF) daily rate was 4.815%, as of May 25th, 2023. For some context, it’s been over 15 years since we’ve seen daily rates this high (2006/2007). As always, ISJIT is available to help you maximize interest earnings. With uncertainty around future interest rates, it could also be prudent to utilize ISJIT’s FTA Program to lock in an interest rate for a specific period. As you’re able to ladder your investments, we’d be glad to provide rates for 6-, 9-, or 12-months and beyond.
OUR PHILOSOPHY
Rooted in relationships and in doing the right thing for Iowa schools, we are focused every day on delivering safe and liquid investment solutions for our clients.
Effective Local Government Investment Pool (LGIP) programs, like ISJIT, offer communities multi-faceted financial services which provide high-quality, diversified investment options. Central to these offerings is the Diversified Fund. PMA’s focus on research and risk management has helped deliver successful outcomes for our clients.
With decades of experience, our professionals at PMA and ISJIT are trusted to understand your individual goals and priorities to implement the ideal plan. We do the work. You enjoy the peace of mind that comes with knowing we’ve got you covered.
Safety, Liquidity, and then Yield. This is our philosophy.
If you have any questions regarding your current account, or if you are interested in joining ISJIT, please reach out to a representative below.
Visit the ISJIT website to learn more: www.isjit.org
