About The Program

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The New Jersey Asset & Rebate Management Program was created by and managed exclusively for New Jersey municipalities, authorities, schools, and other local and regional governmental type entities.

It was designed to help you achieve optimal results for your general cash management and bond proceeds investment programs. NJ/ARM provides Investors with investment and arbitrage rebate compliance services for both bond proceeds and general operating funds. Features of and additional services available through the NJ/ARM Program include:

  • Compliance with NJ Statutes and Regulations for Allowable Investments
  • Competitive Yields
  • Daily Liquidity in the NJ/ARM Joint Account
  • Flexible Investment Options and Active Portfolio Management
  • Arbitrage Rebate Compliance Monitoring and Reporting
  • Secure 24/7 Online Money Movement through Connect
  • Cash Flow Analysis
  • Banking Analysis
  • Breakeven Analysis
  • Projected Earnings Estimates

Investment Philosophy

The Program's Investment Advisor employs a dynamic yet disciplined investment philosophy that seeks to respond actively to changes in market conditions. Our goal is to enhance Portfolio returns through prudent trading and portfolio restructuring without subjecting the portfolio to unnecessary risk.

The Program's Investment Advisor also seeks to optimize investment returns through careful analysis of and investment in short-term government securities and other high-quality money market instruments while preserving the safety and liquidity of the underlying principal. The Program's investments are designed to comply with the Governmental Accounting Standards Board Statement 79 liquidity, diversification, and quality guidelines.

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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 units of the NJ/ARM Joint Account, NJ/TERM or any other security. Investors should consider the investment objectives, risks, charges and expenses before investing in the NJ/ARM Joint Account and NJ/TERM. This and other information about the NJ/ARM Joint Account and NJ/TERM are available in the NJ/ARM Information Statement, which contains important information and should be read carefully before investing. A copy of the NJ/ARM Information Statement may be obtained by calling 1-800-535-7829 or is available on the NJ/ARM website at While the NJ/ARM Joint Account seeks to maintain a stable net asset value of $1.00 per unit and NJ/TERM investments seek to achieve a net asset value of $1.00 per unit at their stated maturity, it is possible to lose money investing in the NJ/ARM Joint Account and NJ/TERM. An investment in the NJ/ARM Joint Account or NJ/TERM is not guaranteed or insured by the Federal Deposit Insurance Corporation or any other government agency. Units of the NJ/ARM Joint Account and NJ/TERM are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) ( and Securities Investor Protection Corporation (SIPC) ( PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC.

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