About the Trust

Background

Since 2002, the IIIT Class has been serving the investment and arbitrage compliance needs of Illinois public agencies. The investment options offered to public agencies through the IIIT Class are the Trust and individual portfolios. Arbitrage rebate compliance services are available for bond proceeds invested through the Trust.

Investment options and services

The Illinois Trust’s Declaration of Trust provides for the creation of multiple specialized investment series within the Trust. Currently, investment options offered to public agencies are the IIIT Class and Illinois TERM. The Trust also offers additional services authorized by the Board of Trustees and provided the Trust’s investment adviser.

Investment Options
	Illinois Portfolio - IIIT Class	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	Daily Confirmation Monthly Statement	Daily Confirmation Monthly Statement
Withdrawals	No Minimum	At Maturity
Transaction Charges & Fees	None	None
Accounts	Unlimited	Unlimited
Interest Earnings	Calculated Daily/Paid Monthly	Paid at Maturity OR Early Redemption Early Redemption at any time other that on a Planned Early Redemption date may result in a substantial early redemption penalty.
Rating	AAAm by S&P Global¹	AAAf by Fitch Ratings²

Additional Products

The following products and services are authorized by the Board of Trustees and are available under a separate agreement with the investment adviser. These services are provided by PFM Asset Management³ (PFMAM):

Individually Managed Portfolios

Separate Account Management (SAM) - PFMAM creates a customized 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

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 Illinois Portfolio account 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 the investment adviser.

Certificates of Deposit (CD) Investment Program

Investors can purchase CDs insured by the Federal Deposit Insurance Corporation to meet their specific cash flow needs.
All CDs are quoted in both gross and net rates, in full disclosure of investment advisory fees.

1 S&P Global AAAm Rating: S&P evaluates a number of factors, including credit quality, market price, exposure, and management. Please visit SPGlobal.com/Ratings for more information and ratings methodology.

2 Fitch AAAf Rating: portfolios with this rating indicate having the highest underlying credit quality. Please visit fitchratings.com for more information and ratings methodology.

3 PFM Asset Management is a division of U.S. Bancorp Asset Management Inc., the Illinois Trust’s investment adviser and administrator, that services public sector clients.

IMPORTANT MESSAGE: New Year’s Day

IMPORTANT MESSAGE: Due to the New Year’s Day holiday, the Fund will be closed on Wednesday, January 1, 2025.

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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 also available on the Trust’s websites 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 U.S. Bancorp Investments, Inc., member FINRA (www.finra.org) and SIPC (www.sipc.org). PFM Asset Management is a division of U.S. Bancorp Asset Management, Inc., which serves as administrator and investment adviser to the Trust. U.S. Bancorp Asset Management, Inc. is a direct subsidiary of U.S. Bank N.A. and an indirect subsidiary of U.S. Bancorp. U.S. Bancorp Investments, Inc. is a subsidiary of U.S. Bancorp and affiliate of U.S. Bank N.A.