STIF Facts as of March 31, 2020
|Total Investor deposits||$8.7 billion|
|Reserve balance||$74.9 million|
|Weighted average maturity||32 days|
|One-year total return||2.01%|
|Five-year total return||1.20%|
|Ten-year total return||0.69%|
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 March 31, 2020, the largest asset allocation categories were:
Bank Deposits (40.8%)
Government Agency Securities (23.3%)
Non-Financial Credit Instruments (20.2%)
Michael Terry, Principal Investment Officer
Paul Coudert, Investment Officer
Marc Gagnon, Securities Analyst
Staff Communication Information
Performance vs. Benchmark
During the quarter ending June 30, 2019, the Fund earned an average annualized yield of 2.43 percent, which was 18 basis points above the iMoneyNet Rated Money Fund Report Average (MFR)Taxable institutional rate of 2.25 percent. Throughout the period we maintained a high level of liquidity and a short average portfolio maturity.