Please read this important announcement from our investment manager. There are no holdings or exposure to Silicon Valley Bank or its parent company, as well as Signature Bank, New York, within the Program.
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The NJ/ARM Program offers multiple investment options, allowing Investors to customize an investment solution to meet their particular investment needs.
Joint Account: maximum liquidity for bond proceeds and general funds
- A professionally managed investment fund with diversified asset classes and maturities that seeks to maintain a constant net asset value of $1.00 per share and limits its average maturity to 60 days.
- Separate accounting and subaccounting for a clear audit trail and simplified arbitrage rebate compliance. Unlimited accounts may be opened at no additional cost so that Investors may keep funds segregated.
- Rated AAAm by Standard & Poor's.
- Daily liquidity and no-fee redemptions either by Federal Reserve wire, Automated Clearing House (ACH) funds, or check.
- Competitive overnight rates.
Individual Portfolio: fixed rates for short/long-term investment of bond proceeds or operating reserves
- Fixed-rate, fixed-term investments for periods of one month up to one year.
- Individual securities consisting of U.S. Treasury or short-term Federal Agency securities or other permitted securities.
- Individual portfolios are linked to an Investors NJ/ARM Joint Account subaccount(s) for timely reinvestment of all maturities and coupon payments. As a result, an Investor's funds are fully invested at all times.
- Procured through competitive bidding process (3 bid minimum) to achieve competitive pricing.
- All securities are held in the Investor's name, by the Program Custodian, for a GASB Category 1 designation.
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