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 PFMAM, the Trust’s Investment Adviser.

Additional Products 

The following products and services are authorized by the Trust's Board of Trustees. These services are provided by PFMAM and are available to IPDLAF+ Class Investors

Individually Managed Portfolios 

Separate Account Management (“SAM”) - PFMAM 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") 

Investment Options:

• BAM: PFMAM 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 PFMAM.

Fixed-Income Investment Program (CD's, Agencies, Treasuries, etc.) 

• Investors receive advice on the purchase of individual investments to meet specific needs.
• Assets are held in the Investor’s name at U.S. Bank, N.A., with the cost paid by PFMAM.
• All investments 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 and the AAAf rating signifies that a portfolio's holdings provide extremely strong protection against losses from credit defaults. However, it should be understood that these ratings are not “market” ratings or 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.