Program Fact Sheet
17-day net yield, also known as the current annualized yield, represents the net change, exclusive of capital changes and income other than investment income, in the value of a hypothetical account with a balance of one share (normally $1.00 per share) over a seven-day base period expressed as a percentage of the value of one share at the beginning of the seven-day period. This resulting net change in account value is then annualized by multiplying it by 365 and dividing the result by 7. 2 The monthly distribution yield represents the net change in the value of a hypothetical account with a value of one share (normally $1.00 per share) resulting from all dividends declared during a month by the Pool expressed as a percentage of the value of one share at the beginning of the month. This resulting net change is then annualized by multiplying it by 365 and dividing it by the number of calendar days in the month. 3 Weighted Average Maturity: Calculated by the final maturity for a security held in the portfolio and the interest rate reset date. This is a way to measure a fund’s sensitivity to potential interest rate changes.
4 Standard & Poor’s fund ratings are based on analysis of credit quality, market price exposure, and management. According to Standard & Poor’s rating criteria, the AAAm rating signifies excellent safety of investment principal and a superior capacity to maintain a $1.00 per share net asset value. However, it should be understood that the rating is not a “market” rating nor a recommendation to buy, hold or sell the securities. For a full description on rating methodology, visit Standard & Poor’s website (http://www.standardandpoors.com/ratings/en_US/web/guest/home). 5 The AAAf rating reflects Fitch Ratings’ (“Fitch”) review of the Term program’s investment and credit guidelines, the portfolio’s credit quality and diversification, as well as the capabilities of PFM Asset Management LLC as investment adviser. It indicates the highest underlying credit quality (or lowest vulnerability to default). However, it should be understood that this rating is not a “market” rating nor a recommendation to buy, hold or sell the securities. For a full description on rating methodology visit www.fitchratings.com.
6As of the last day of the month. The 30-day yield represents the net change, exclusive of capital changes and income other than investment income, in the value of a hypothetical account with a balance of one share (normally $1.00 per share) over a thirty-day base period expressed as a percentage of the value of one share at the beginning of the thirty-day period. This resulting net change in account value is then annualized by multiplying it by 365 and dividing the result by 30.
POOL FACTS
7-Day Net Yield1
Monthly Distribution Yield2
Weighted Average Maturity3
Pool Rating4
September 30, 2024
As of September 30, 2024
5.08%
5.29%
37 Days
AAAm by Standard and Poor’s
SERVICE PROVIDERS
Investment Adviser, Administrator and Transfer Agent:
PFM Asset Management LLC
Distributor: PFM Fund Distributors, Inc
Depository and Custodian: U.S. Bank, N.A.
Independent Auditor: Ernst & Young LLC
Counsel: Nossaman LLP
Pool Diversification as of September 30, 2024
Credit Quality Distribution
(Standard & Poor’s Global Ratings)
Sector Composition
Pool Performance (30-Day Net Yield6 %) 5.57% 5.58% 5.56% 5.54% 5.52% 5.49% 5.45% 5.44% 5.44% 5.45% 5.43% 5.30%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
CAMP is a California Joint Powers Authority established in 1989 to provide California public agencies with professional investment services.
INVESTMENT OBJECTIVE
To earn a high rate of return while preserving principal and providing liquidity. The Pool seeks to maintain a stable NAV of $1.00 per share and the TERM Portfolio seeks to achieve a NAV of $1.00 per share at the stated maturity.
CASH RESERVE PORTFOLIO (POOL)
A short-term cash reserve portfolio and cash management vehicle permitted as an investment for all local agencies under California Government Code Section 53601(p).
TERM PORTFOLIO
A fixed rate, fixed term portfolio rated AAAf by Fitch
Ratings5 and permitted as an investment for all local
agencies under California Government Code Section
53601(p).
A-1
69%
A-1+
27%
AAAm
3% A+
1%
A
<1%
Repurchase
Agreements
33%
Commercial
Paper
31%
Negotiable
Certificates of
Deposit
29%
Money
Market Fund
3%
Corporate Notes
2%
Federal Agencies
1%
Supranationals
1%
Must be preceded or accompanied by a Program Guide. For a current Program Guide, which contains more complete information, please visit http://www.camponline.com/ or call 800-729-7665. Before investing, consider the investment objectives, risks, charges and expenses of the pool carefully. This and other information can be found in the Program Guide. Read the Program Guide carefully before you invest or send money. 1Source: iMoneyNet First Tier Institutional Money Market Fund Average; benchmark yields are as of the last business day of each month. This index is comprised of funds rated in the top grade that invest in high-quality financial instruments with dollar-weighted average maturities of less than 60 days. It is not possible to invest directly in such an index.
Past performance is no guarantee of future results. Yields will fluctuate as market conditions change. The current fund performance may be higher or lower than that cited. The yields shown may reflect fee waivers by service providers that subsidize and reduce the total operating expenses of the Pool. Pool yields would be lower if there were no such waivers. Important disclosure information is provided on the following page.
CAMP® is a registered trademark and the CAMP logos and designs are trademarks owned by the California Asset Management Trust (Trust).
This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security. Investors should consider the Trust’s investment objectives, risks, charges and expenses before investing in the Trust. This and other information about the Trust is available in the Trust’s current Information Statement, which should be read carefully before investing. A copy of the Trust’s Information Statement may be obtained by calling 1-800-729-7665 or is available on the Trust’s website at www.camponline.com. While the Cash Reserve Portfolio seeks to maintain a stable net asset value of $1.00 per share and the CAMP Term Portfolio seeks to achieve a net asset value of $1.00 per share at the stated maturity, it is possible to lose money investing in the Trust. An investment in the Trust is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Trust are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) (www.finra.org) and Securities Investor Protection Corporation (SIPC) (www.sipc.org). PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC.
Average Annual Return as of September 30, 2024
www.camponline.com | 1.800.729.7665 | [email protected]
Month 3-Month 1-Year 3-Year 5-Year
CAMP Cash Reserve
Portfolio 5.30% 5.53% 5.64% 3.75% 2.48%
iMoneyNet Prime
Money Market Fund
Index1
5.05% 5.25% 5.34% 3.51% 2.27%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
CAMP Cash Reserve
Portfolio
iMoneyNet Prime Money
Market Fund Index