The fund seeks to minimize risk and enhance return on short-term cash for State, municipalities and other political subdivisions. STIF employs a top-down approach to developing its investment strategy. Starting with the objectives of the fund, STIF considers constraints outlined in its investment policy, which include parameters on liquidity management, maturity targets and permissible investment types.
STIF implements an investment strategy that assures the portfolio is well diversified.
As of September 30, 2017, the largest asset allocation categories
- Deposit Instruments (35.7%)
- Non-Bank Commercial Paper (22.5%)
- Federal Agency Securities (19.6%)
- Michael Terry, Principal Investment Officer
- Paul Coudert, Investment Officer
- Marc Gagnon, Securities Analyst
- Leonora Gjonbalaj, Investment Technician
Staff Communication Information
Performance vs. Benchmark
During the quarter ending September 30, 2017, the Fund earned an average
annualized yield of 1.06 percent, which was 8 basis points above the iMoneyNet Rated Money Fund Report Average (MFR), Taxable institutional rate
of 0.98 percent. Throughout the period we maintained a high level of
liquidity and a short average portfolio maturity.