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 PFM Asset Management’s (PFMAM) four decades of experience managing LGIPs. PFMAM was hired by the Board of Trustees as the Program Administrator to the Pool. PFM Asset Management is a division of U.S. Bancorp Asset Management Inc., NCIP’s investment adviser and administrator, that services public sector clients. Shares of the Pool are distributed by USBAM’s affiliate, U.S. Bancorp Investments, Inc., member FINRA and SIPC. 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.
For more information and important disclosures, email [email protected] or visit NCIP’s website.
Contact Information
Contact Matt Bigelow, NCACC Budget Director, for more information regarding NCACC’s sponsorship of NCIP.