About The Program
About The Program
MOSIP was established in 1991 under the authority of Article VI, Section 16 of the Constitution of Missouri and Sections 70.210 to 70.320, Revised Statutes of Missouri, as amended. These statutory provisions provide authority for Missouri’s political subdivisions to pool their funds together for a common service, provided such municipalities and political subdivisions are authorized to do so.
Investment options and services
MOSIP’s Intergovernmental Agreement provides for the creation of multiple specialized investment series within the Program. Currently, MOSIP offers two investment options 1) MOSIP Liquid Series and 2) MOSIP Term Series. MOSIP also offers additional services authorized by the MOSIP Board of Directors and provided by PFM Asset Management LLC (“PFM”), MOSIP’s Investment Advisor.
|MOSIP Term Series||MOSIP Liquid Series|
|Investment Period||60 Day Minimum|
1 Year Maximum
|One Day Minimum|
|Balance Requirements||$1,000,000 Minimum||$1.00 Minimum|
|Additional Deposits||$1,000,000 Minimum||No Minimum|
Charges & Fees
|Rate||Fixed Rate||Variable Rate/|
Planned Redemption or
|Credit Rating||AAAf - Fitch|
AAAkf - Kroll
|AAAm - S&P|
Effective March 2016, all new Term Series have received a rating of AAAf from Fitch Ratings ("Fitch") and a AAAkf rating from Kroll Bond Rating Agency ("Kroll"). The ratings reflect Fitch's and Kroll's review of the Term program's investment and credit guidelines, the portfolio's credit quality and diversification, as well as the capabilities of PFM Asset Management LLC as investment adviser. The Fitch AAAf rating indicates the highest underlying credit quality (or lowest vulnerability to default). The Kroll AAAkf rating is based on the credit quality of the underlying instruments that comprise the portfolio and is influenced by the results of a qualitative assessment of the investment adviser. However, it should be understood that these ratings are not "market" ratings nor a recommendation to buy, hold or sell the securities. For a full description on rating methodology visit www.fitchratings.com and www.krollratings.com/ratings/methodologies/rating-scales.
Certificates of Deposit (CDs)
- Investors receive advice on the purchase of CDs to meet their specific needs
- Bond Account Management (BAM): PFM manages bond proceeds and performs arbitrage rebate calculations
- Laddered Portfolio: Matches maturities to meet expected cash flow needs and arbitrage rebate requirements
PFM creates a comprehensive 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
To learn more about these services, contact a MOSIP Program Representative.
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