Florida Trust – Day to Day Fund
What it Is
The Day to Day Fund is a money market product created in January 2009 in response to demand for a fiscally conservative diversification option for Florida local governments. Its launch exceeded expectations and surpassed the half billion dollar mark in its first 90 days of operation. The fund is rated 'AAAm' by Standard & Poor’s and is governed by the same board and advisory committee that has overseen the Florida Trust Short Term Bond fund, Florida's longest running member-owned and governed investment pool.
As of July 2016, the fund balance was $522,552,179.77.
Fees for the fund will not exceed 15 basis points.
The fund administrator is the Florida Association of Court Clerks & Comptrollers, the investment advisor is Payden & Rygel, investment counsel is Nabors, Giblin & Nickerson, and the fund custodian is United Missouri Bank (UMB).
The Florida Trust is an intergovernmental investment pool created by interlocal agreement under F.S. 163.01. Authorized investment under Florida law, F.S. 218.415 (16) (a).
AAA-rated by S&P and structured to maintain liquidity, safety of principal, and maximize available yield through a balance of quality and diversification.
Invests primarily in U.S. Treasuries, Mortgages, Commercial Paper, Government Related Securities, Asset-Backed Securities rated AAA or A-1, and Corporate Bonds rated A or better by Standard and Poor’s.
Variable Net Asset Value (NAV)—The fund will provide return in the form of share value; the NAV will fluctuate in value based on market conditions.
Next day liquidity – There are no withdrawal restrictions.
Online Account Access – Secure access to view your account(s) and download statements.
How Many Counties Use It
Meet the Partner
Client Relationship Representative
Zach Falconer is a Client Relationship Representative for the Florida Local Government Investment Trust (Florida Trust). He has over 10 years’ experience in client service. He attended Northeastern University on a football scholarship and has an undergraduate degree in Communications. After a stint with the NFL's Oakland Raiders, he pursued graduate school at the University of Central Florida where he received a Master's in Business Administration.
Prior to joining the Florida Trust, Zach was a Relationship Manager for a boutique consulting and personnel management company located in the Central Florida Research Park. He has also served as Manager of a statewide in-school marketing program.
His favorite pastimes include exercising, reading and traveling - and he resides in Orlando with his wife Kerry, daughter Zofia and dog Tucker
For more detailed information, please visit the Florida Trust web site
Anna R. Doughty, CPA
Director of Internal Affairs & Financial Services