Investment Services by and for North Carolina Units of Local Government
The North Carolina Investment Pool (NCIP) is a commingled local government investment pool established to invest idle funds in various short-term investments in accordance with North Carolina General Statute 159-30.
NCIP is organized for the cash management and investment needs of North Carolina units of local government and offers participants a convenient way to invest their idle funds. Benefits of NCIP include:
Designed for Safety
Managed to Comply with North Carolina Law
Focused on Liquidity
NCIP is a vehicle by and for North Carolina units of local government to invest idle monies such as general, operating and debt service funds, bond proceeds, and operating reserves. It was established by an interlocal agreement and is governed by a Board of Trustees comprised of North Carolina local government finance professionals who have a fiduciary duty to act in the best interest of its participants.
Pooling investments in a commingled fund like NCIP can allow investors to benefit from more diversification and economies of scale, as well as the expertise of NCIP’s investment adviser, PFM Asset Management LLC (PFMAM). PFMAM is an SEC-registered investment adviser hired by the NCIP Board of Trustees to provide investment advisory and administrative services to NCIP. PFMAM has more than 40 years of experience managing local government investment pools and serves as investment adviser and/or administrator for 18 LGIPs nationwide. Shares of NCIP are distributed by PFMAM’s affiliate, PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority and Securities Investor Protection Corporation.