Investment Options
Investment Options
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The NJ/ARM Program offers multiple investment options, allowing investors to customize an investment strategy to meet their particular 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 sub-accounting 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 S&P Global1
- 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
NJ/TERM
- Fixed-rate, fixed-term investments with maturities ranging from 60 days to one year
- Rated AAAf by Fitch Ratings2
Open-Market Securities
- 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
- Procured through competitive bidding process (three-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
1 S&P Global AAAm Rating: S&P evaluates a number of factors, including credit quality, market price, exposure, and management. Please visit SPGlobal.com/Ratings for more information and ratings methodology.
2 Fitch AAAf Rating: portfolios with this rating indicate having the highest underlying credit quality. Please visit fitchratings.com for more information and ratings methodology.
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