About the Trust
About the Trust
The Trust has been serving the investment and arbitrage compliance needs of Illinois park districts, conservation districts and joint recreational programs since 1986*. The investment options offered to park entities through the Trust are the IPDLAF+ Class of the Illinois Portfolio, Illinois TERM and individual portfolios. Arbitrage rebate compliance services are available for bond proceeds invested through the Trust.
Investment options and services
The Trust’s Declaration of Trust provides for the creation of multiple specialized investment series within the Trust. Currently, the Trust offers two investment options. The Trust also offers additional services authorized by the Board of Trustees and provided by PFM, the Trust’s Investment Adviser.
|IPDLAF+ Class - Illinois Portfolio||Illinois TERM|
|Investment Period||One Day Minimum||60 day Minimum|
1 year Maximum
|Balance Requirements||$1.00||$100,000 Minimum|
|Additional Deposits||No Minimum||$100,000 Minimum|
|Statements||Monthly Statement||Monthly Statement|
|Withdrawals||No Minimum||At Maturity|
|Transaction Charges & Fees||None||None|
|Interest Earnings||Calculated Daily/Paid Monthly||Paid at Maturity OR Early Redemption|
Early Redemption at any time other than on a Planned Early Redemption date may result in a substantial early redemption penalty.
|Standard & Poor's Rating||AAAm**|
The following products and services are authorized by the Trust's Board of Trustees. These services are provided by PFM and are available to IPDLAF+ Class Investors
Individually Managed Portfolios
Separate Account Management (“SAM”) - 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
Bond Account Management ("BAM")
- BAM: PFM manages bond proceeds and performs arbitrage rebate calculations
- Laddered Portfolio: Matches maturities to meet expected cash flow needs and arbitrage rebate requirements.
Individually managed portfolios are automatically linked to the Investor’s account in the IPDLAF+ Class so that maturities and coupon payments are invested at all times. Individually managed portfolios, which are not a part of the Trust, are available under a separate agreement with PFM.
FDIC-Insured Certificates of Deposit (“CD”) Program
- Investors can purchase FDIC-insured CDs to meet their specific cash flow needs.
- All CDs are quoted in both gross and net rates, in full disclosure of investment advisory fees.
*The Trust was formed in 2002 as the Illinois Institutional Investors Trust. In February 2012, the Trust was renamed the Illinois Trust and merged with the Illinois Park District Liquid Asset Fund Plus, whose shareholders then became shareholders of the IPDLAF+ Class of the Illinois Portfolio. The Illinois Park District Liquid Asset Fund Plus was formed in 1986.
** Standard & Poor’s fund ratings are based on analysis of credit quality, market price exposure and management. According to Standard & Poor’s rating criteria, the AAAm rating signifies excellent safety of invested principal and a superior capacity to maintain a $1.00 per share net asset value. However, it should be understood that the rating is not a "market” rating nor a recommendation to buy, hold or sell the securities. For a full description on rating methodology, visit Standard & Poor’s website (http://www.standardandpoors.com/en_US/web/guest/home).
*** The AAAf rating reflects Fitch Ratings ("Fitch") 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. It indicates the highest underlying credit quality (or lowest vulnerability to default). However, it should be understood that this rating is not a "market" rating nor a recommendation to buy, hold or sell the securities. For a full description on rating methodology visit www.fitchratings.com.
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This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security. Investors should consider the Trust’s investment objectives, risks, charges and expenses before investing in the Trust. This and other information about the Trust is available in the Trust’s current Information Statement, which should be read carefully before investing. A copy of the Trust’s Information Statement may be obtained by calling 1-800-731-6870 for the IIIT Class and 1-800-731-6830 for the IPDLAF+ Class and is available on the Trust’s website at www.iiit.us and www.ipdlaf.org. While both the IIIT and IPDLAF+ Classes of the Illinois Portfolio seek to maintain a stable net asset value of $1.00 per share and the Illinois TERM series seek to achieve a net asset value of $1.00 per share at its stated maturity, it is possible to lose money investing in the Trust. An investment in the Trust is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Trust are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) (www.finra.org) and Securities Investor Protection Corporation (SIPC) (www.sipc.org). PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC.