Organized in 2010, Florida Public Assets for Liquidity Management (FL PALM or the Trust) offers a short-term investment program for Florida Public agency investors. The Trust offers a fully liquid, variable rate investment option known as the FL PALM Portfolio, and the ability for participants to invest in shares of fixed-rate, fixed-term investments through the FL PALM Term Portfolio.
FL PALM
FL PALM is a common law trust organized under the laws of The State of Florida and is designed to meet the cash management and short-term investment needs of school districts, political subdivisions of the State or instrumentalities of political subdivisions of the State. The Trust's investment objective is to provide investors with the highest possible investment yield, while maintaining liquidity and preserving capital. FL PALM is directed by a Board of Trustees, which is made up of experienced school board members, superintendents, public agency officials, and an Advisory Committee of senior finance officers from member Districts and public agencies. The Florida School Boards Association (FSBA) and the Florida Association of District School Superintendents (FADSS) sponsor the Fund.
| Documents | Description |
| Fund Fact Sheet | Performance and fund diversification |
| Monthly Portfolio Summary | Pool holdings and additional characteristics as of August 31, 2024 |
| Information Statement | A detailed description of FL PALM |
FL PALM Portfolio Highlights
- A short-term portfolio rated AAAm by S&P Global1
- Daily liquidity
- 2:00 p.m. Eastern Time same-day wire transaction deadline
- 4:00 p.m. Eastern Time next-day ACH transaction deadline
- Online transaction and reporting access available at all times
- $10,000 minimum investment
- Availability to establish multiple accounts and multiple standing wire and ACH instructions
- Unlimited investments and redemptions
- Designed for the investment of all typical school and government fund categories:
- General and operating funds
- Proceeds from debt issuance
- Capital reserves
- Debt service reserve funds
- Arbitrage rebate analysis and calculation offered at special pricing for FL PALM shareholders who have proceeds from debt issues invested with the Fund.
FL PALM Term Portfolio Highlights
- A fixed-rate fixed-term portfolio rated AAAf2 by Fitch Ratings
- Investments offered with maturity dates up to one year
- Principal investment and dividend paid at maturity
- A variety of investment dates available to meet your specific cash flow needs
- 12:00 p.m. Eastern Time same-day investment deadline
- Online transaction and reporting access available all the time
- $1,000,000 minimum investment
- Unlimited investments and redemptions through the FL PALM Portfolio
- Designed for the investment of all typical school and government fund categories:
- General and operating funds
- Proceeds from debt issuance
- Capital reserves
- Debt service reserve funds
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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Updated Information Statement Available
An updated Information Statement, dated October 1, 2024, is now available for review. Please click here to access the document. If you have any questions, please email CSGEast@pfmam.com.
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