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About the Trust


Background  

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

Investment options and services  

IIIT’s  Declaration of Trust provides for the creation of multiple specialized investment series within the Trust. Currently, IIIT offers two investment options. IIIT also offers additional services authorized by the Board of Trustees and provided by PFM, IIIT’s Investment Adviser.

 

 Investment Options 

 

 IIIT Portfolio 

 IIIT Term 

Investment Period  One Day Minimum60 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 MinimumAt Maturity
Transaction Charges & Fees NoneNone
Accounts UnlimitedUnlimited
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. 

Standard & Poor's Rating AAAm*  
Fitch Rating  AAAf **

Additional Products

 

The following products and services are authorized by the IIIT Board of Trustees. These services are provided by PFM:

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

Investment Options:

  • 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 IIIT 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 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.  

*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 

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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 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 a wholly owned subsidiary of PFM Asset Management LLC. 

 

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