The Illinois Funds
The Illinois Public Treasurer's Investment Pool (IPTIP)
Investing on behalf of state and local governments
The Illinois Public Treasurers’ Investment Pool (referred to as “The Illinois Funds”) is a local government investment pool (LGIP) operated by the Office of the Illinois State Treasurer for state and local government agencies.
This program provides a critical service for state and local agencies, enabling them to pool their money and invest in a safe, liquid investment vehicle that exceeds industry benchmarks, and has received the highest rating (AAAmmf) from national credit ratings agencies.
Created in 1975, The Illinois Funds was one of the first local government investment pools established in the nation.
The Illinois Funds is comprised of approximately 1,500 participating entities, holding over 3,000 accounts, with net assets of over $7 billion.
Investment Summary
As of August 31, 2021
• Net Portfolio Assets*: $9,382,229,767
• Present Market Value: $9.368,129,781
• Monthly Investment Earnings: $390,648
• 7-Day Effective Yield**: 0.020%
• One Month Gross Yield: 0.097%
• One Month Effective Yield**: 0.020%
• Net Asset Value (per share): $1.00
• Weighted Average Maturity: 58
• Weighted Average Life: 104
*This total includes a State Investment of $3,681,011,970
**Yield Net of Fees
Illinois Funds Performance Update
2021 2nd Quarter
The Illinois Funds continued its strong performance during the second quarter, relative to its competitors. The Funds’ quarterly rate of return was 0.033%, down from 0.074% during the second quarter of 2021. Net interest income decreased by approximately $668,000 over the same time period. Comparably, rates on one- and two-year Illinois CDs averaged 0.31% and 0.33% respectively.
While the COVID-19 pandemic is creating volatile and uncertain market conditions, we are diligently working to maximize earnings while maintaining safety and liquidity for all participants. As always, pelase feel free to contact us with any questions or concerns regarding your account, underlying investments, or the Illinois Funds in general.
Thank you.
The Illinois Funds Team
Benchmarks
The Office of the Illinois State Treasurer uses industry benchmarks to ensure dollars are placed in safe and lucrative investments. The Illinois Treasurer's goal is to consistently outperform the competition and exceed benchmarks.
These graphs compares the yield on the Illinois Funds, Local Government Investment Pool’s portfolio to a blended benchmark produced by the Treasurer’s Office. The blended benchmark reflects the actual mix of assets in the Illinois Funds, Local Government Investment Pool’s portfolio. For example, if the Illinois Funds, Local Government Investment Pool invested half of its assets in repurchase agreements, one quarter in USA agency debt, and another quarter in commercial paper, this benchmark would combine standards from each of those asset classes to produce a new, blended standard. This is the most accurate indicator of the Illinois Funds, Local Government Investment Pool’s overall portfolio performance.
Inventory Reports
Below are links to inventory reports from the last three months, each listing individual holdings as of the reported date: