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IPAIT Deadlines Due to Upcoming Holiday

Posted By IAMU, Monday, March 26, 2018

The financial markets are closed each year on Good Friday while the banks remain open. IPAIT is closed to transactions due to the financial markets being closed. This year Good Friday falls on what would be the last business day of the quarter in addition to being the county property tax payment due date.  We wanted to give you a heads up to initiate your transactions for settlements no later than Thursday, March 29th.  ACH transactions must be in the system by 3 p.m. Wednesday, March 28 and wire transactions must be in the system by 10 a.m. Thursday, March 29 for settlement prior to the quarter end and the long weekend.

The daily interest rate on IPAIT’s liquid fund has continued to increase throughout the year.  The rate on January 1 was 1.10% and as of this writing is 1.32%. We encourage you to regularly monitor the rate on the home page of IPAIT.org and compare that to what your funds are earning.

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Consider IPAIT for Your Cash Flow and Investment Needs

Posted By IAMU, Monday, February 12, 2018

As a friendly reminder, posted on the Iowa Public Agency Investment Trust (IPAIT) website is the daily fund rate, which is now above 1.15%. It’s been quite some time since we’ve seen the IPAIT rate this high (actually not since January 2009). Please visit the IPAIT website to review: www.ipait.org

There is no minimum balance required, and each participant may open as many IPAIT accounts as necessary to complement your local bank account structures. Interest accrues daily and is paid monthly. Funds are transferred online via ACH between your local bank and your IPAIT Fund(s). 

In addition to the daily fund, you have access to the IPAIT Fixed Term program. The Fixed Term program works with more than 300 Iowa banks to enable you to get the highest rate from IPAIT or your local banks.

If it’s been some time since you’ve invested in IPAIT, or maybe you haven’t taken advantage of investing in the fund and have questions, please feel free to contact Dan Zomermaand at dzomermaand@pmanetwork.com and 712.251.0383, or Paul Kruse at pkruse@pmanetwork.com and 515.554.1555.

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IPAIT Selects New Marketing Services Provider and Fixed-Term Automated Program Provider

Posted By IAMU, Tuesday, June 6, 2017

In partnership with the Iowa Association of Municipal Utilities (“IAMU”), the Board of Directors of the Iowa Public Agency Investment Trust (“IPAIT“) is pleased to announce it has selected PMA Securities Inc. as the Fund’s marketing services provider and the Fixed Term Automated (“FTA”) program provider (along with PMA Financial Network, Inc., an affiliate of PMA Securities, Inc., “PMA”), effective July 1, 2017.

PMA Securities, Inc., PMA Financial Network, Inc. and Prudent Man Advisors, Inc. (collectively “the PMA companies”) offer investment management, fixed income investment products and services, public finance/financial advisory services and financial planning, as well as comprehensive services for local government investment pool (“LGIP”) clients which include portfolio management, fund administration and marketing. The PMA companies have been leaders in providing financial services to public entities since 1984 and currently serve over 2,400 local governments in 11 states. PMA has had significant experience in all aspects of LGIP management and operations, including working for a total of ten LGIPs similar to IPAIT in varying capacities. The company has built a reputation as a reliable, professional financial organization offering unique products and services to its public sector clients.

PMA brings to IPAIT a team of experienced staff dedicated specifically to serving the FTA and marketing functions of the Fund.  Along with being a registered broker dealer capable of offering a full suite of Iowa State Statue compliant investment vehicles such as U.S. Treasury and Government Agency securities, PMA also brings its over 30+ years of financial institution relationship development experience. PMA has been working in tandem with other public entities in the state of Iowa for the last half-decade in cultivating relationships and programs with local banks and other financial institutions to bring the most competitive and innovative investment vehicles to its clients. Through its credit division, PMA augments the FTA program by providing a proprietary credit screening model that monitors each financial institution participating in the program, ensuring that the tenets of safety, liquidity, and yield are maintained.  PMA is excited for the opportunity to bring its unique set of relationships, expertise, experience and ingenuity to IAMU through its new partnership with IPAIT.

While a team of experienced PMA professionals will service the Fund, Paul Kruse, PMA Senior Vice President and Director- Iowa, will be the primary marketer and contact for Participants, including for fixed term investments. Paul will serve as the liaison between IPAIT and the Fund’s Participants. Some of you may be familiar with Paul, as he’s attended many conferences as the PMA representative and previously marketed the IPAIT program from 1992 to 2003.

In addition, PMA's affiliated company Forecast5 Analytics, Inc. (“Forecast5”) provides strategic software solutions to public clients to address budgetary and financial planning needs.  The focus of both the PMA and Forecast5 companies is to serve public entities. Forecast5 is transforming the way local governments use data to synchronize financial resources and strategic plans. Schools, cities and counties benefit from a unique analytics platform designed to accelerate insight. By combining powerful financial applications inside a next-generation collaboration platform, local governments can quickly identify efficiencies and capitalize on opportunities.

PMA and Forecast5 continue to expand their national footprint, servicing a combined 3,400 public entities in 24 states throughout the U.S. 

Since 1987, IPAIT has proudly served the investment needs of members of the League of Iowa Cities, Iowa Association of Counties and the Association of Municipal Utilities. Both the IPAIT Diversified fund and FTA program offer safe, competitive yielding investments to Participants. Through PMA, IPAIT Participants will continue to have access to safe, competitive yielding fixed term investments from PMA’s extensive network of statute compliant financial institutions.

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