California Cooperative Liquid Assets Securities System
What is California CLASS? CALIFORNIA CLASS FEATURES
California Cooperative Liquid Assets Securities System (California CLASS) is a joint exercise of powers entity authorized under Section 6509.7, California Government Code. California CLASS is a pooled investment option that was created via a joint exercise of powers agreement by and among California public agencies.
California CLASS offers public agencies a convenient method for investing in highly liquid, investment-grade securities carefully selected with the goal of optimizing yields while prioritizing safety and liquidity. The California CLASS Prime and Enhanced Cash funds help assist public agencies in strengthening and diversifying their cash management programs in accordance with the safety, liquidity, and yield hierarchy that provides the framework for the investment of public funds.
As a California CLASS Participant,
you have access to many
convenient features:
● Same-day availability of funds in Prime
Fund (11:00 a.m. PT cut-off)
● Contributions by wire or ACH
● Ratings of 'AAAm' & 'AAAf/Sl'
● Portfolio securities
marked-to-market daily How is it governed and managed?
California CLASS is overseen and governed by a Board of Trustees. The Board is made up of public agency finance professionals who participate in California CLASS and are members of the Joint Powers Authority (JPA). The Board of Trustees has entered into an investment Advisor and
Administrator Agreement with Public Trust Advisors, LLC. Public Trust is responsible to the Board for all program investment and administrative activities as well as many of the services provided on behalf of the Participants.
● Secure online access for transactions
and account statements
● No redemption notices for Prime Fund
● Participant-to-Participant transactions
● Dividends accrue daily and pay monthly
● No maximum or minimum transaction How can we participate? limits Enrolling in California CLASS is simple. Public agencies may become Participants simply by filling out the Participant Registration Form that can be found in the document center on the California CLASS website. Public agencies may submit the completed registration packet to California CLASS Client Services * No maximum or minimum investment
requirements
* No transaction fees*
for processing at [email protected]. To obtain account
● Annual audit conducted by independent
forms and fund documents. visit auditing firm
www.californiaclass.com/document-cervter/.
● Dedicated client service representatives
available via phone or email on any
business day
Sponsored By:
*You may Incur fees associated with wires and/or ACH
transactions by your bank, but there will be no transaction fees charged from California CLASS for such transactions.
**External audits may not catch all instances of accounting errors and do not provide an absolute guarantee of accuracy.
LEAGUE OF California Special
Districts Association
Disirias Stronger Together
CALIFORNIA
CITIES
www.csda.net www.caicities.org
T (877) 930-5213 i F (877) 930-5214 www.californiaclass.com [email protected] What are the objectives of California CLASS?
Safety
The primary investment objective of the California
CLASS Prime Fund is preservation of principal. Both
California CLASS portfolios are managed by a team of
investment professionals who are solely focused on the
management of public funds nationwide. The custodian
for California CLASS is U.S. Bank, N.A.
California public agency cash flows that the Public Trust team possesses.
Ease of Use
To make cash management streamlined and efficient,
California CLASS includes many features that make it
easy to access account information and simplify record
keeping. Participants can transact on any business day
via the California CLASS Online Transaction Portal at
www. calif p r n i a class.co m.
Liquidity
When you invest in the California CLASS Prime Fund,
you have access to your funds on any business day. You
must notify California CLASS of your funds transaction
requests by 11:00 a.m. PT via the oniine transaction
portal. There are no redemption notices for the
daily-liquid California CLASS Prime Fund. The California CLASS Enhanced Cash Fund is a variable NAV fund that
provides next-day liquidity and requires a one-day
notification of redemption.
Flexibility
You may establish multiple California CLASS
subaccounts. You will receive comprehensive monthly
statements that show all of your transaction activity,
dividend accruals, and yield summaries. These
statements have been specifically designed to facilitate public sector fund accounting and to establish a clear
accounting and audit trail for your records. Competitive Returns California CLASS strives to provide competitive yields
while adhering to the objectives of safety and liquidity.
Participants can benefit from the investment expertise
and institutional knowledge provided by the team of
Public Trust professionals. The portfolio performance
objective is strengthened by the knowledge of
Legality
California CLASS only invests in securities permitted by California State Code Section 53601: permitted
investments are further restricted to those approved by the Board of Trustees as set forth in the California
CLASS Investment Policies.
Have Questions? Contact us or visit www.californiaclass.com for more information.
Laura Glenn, CFA®
Senior Director, Investment Services
[email protected]
(404) 822-8287
Crystal Lynn
Director, Investment Services
[email protected]
(949)701-5400
Bob Shull
Senior Director, Investment Services
[email protected]
(925) 872-1007
Any linancial and/or investment decision should De made only alter considerable research, consideration, and invoivcmenl ivitn an exoerienced orofessionnl engaged for the specific purpose. The information presented snould not be used in making any investment decisions. This material is not a recommendation to buy, sell, impiemeni, or change any securities or investment strategy, function, or process. Please review the California CLASS Information Statement(s) before investing. California CLASS is not a bank. An investment in California CLASS is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Althougn the California CLASS Prime Fund seeks to preserve the value ol your Inveslmenl at SLOO per share, it cannot guarantee it will do SO- Please review the California CLASS Information Stalemenl(s) before investing. Past performance is not an indication of future performance. No assurance can be given that the performance objectives of a given strategy will be achieved. Any finiincial and/or Investment decision may incur losses. The California CLASS Prime Fund is rated ’AAAm’ by 5SP Global Ratings. A ’AAAm’ rating by S&P Global Ratings is obtained after S5P ev,iHjales a number of factors including credit quality, m,irket price exposure, and management. For a lull description on rating memodoiogy, please visit v/ww.spglobal.com. The California CLASS Enhanced Cash Fund is rated by 'AAAf/SI' by FitchRalmgs. The 'AAAf rating is Filch's opinion on the overall credit profile within a fixed-income lund/porlfolio ana indicates the nighesl underlying credit quality ol the pool's investments. The 'Si volatility rating is Fitch’s opinion on the relative sensitivity of a portfolio's total return and/or net asset value to assumed changes in credit spreads and interest rates. The 'SV volatility rating indicates that the fund possesses a low sensitivity to market risks. For a lull description on rating methodology, please visit www.fitchratings.com. Ratinas are subject to change and do not remove credit risk. » T (877) 930-5213 F (877) 930-5214 www.californiaclass.com [email protected] '4 Sponsored by California
CL^S EF-- LEAGUE OF California Special
Districts Association
BSQQ Districts Stronger Together
CALIFORNIA
CITIES
www.californiaclass.com:
A JOINT POWERS AUTHORITY INVESTMENT POOL
Client-First & User-Friendly Cash Managennent Solutions Designed for California Public Agencies of All Sizes
California CLASS provides
Participants the following benefits:
Prime Enhanced Cash Fund Option
Portfolio Type Prime-style fund Enhanced cash
●/ Convenient modern transaction
portal Purpose Operating Funds strategic Reserves
y/ Dedicated client service team equally
committed to all California public
agencies
Rating 'AAAm' ■AAAf/Sl
Min/Max
Investment None None
■/ Portfolios managed in accordance
with California Government Code
Withdrawals Unlimited Unlimited
Investment Horizon Day-to-Day 12-18 Months y/ Transparent governance by Board of Trustees Liquidity Same-Day Next-Day
y/ Portfolios marked-to-market with
net asset value and yields posted to
website daily
WAM <60 days 90-200 days
Variable $10.00
per share
Stable $1.00
per share
Net Asset Value
(NAV)
Learn more about building an optimal liquidity portfolio for your public agency; contact us today.
Laura Glenn, CFA®
Senior Director, Investment Services
[email protected]
(404) 822-8287
Bob Shull
Senior Director, Investment Services
[email protected]
(925) 872-1007
Crystal Lynn
Director, Investment Services
[email protected]
(949)701-5400
Many faclors affect performance including changes in market conditions and interest rates ana in response to other economic, political, or financial developments, investment involves risk including the possible loss of principal. No assurance can be given that the performance ob]ectives of a given strategy will be achieved. The information presented should not Pe used in making any investment Oecisions. This material is not a recommendation to buy, sell, implement, or change any securities or investment strategy, lunction. or process. Any financial and/or investment decision snould be made only after considerable research, consideration, ana involvement with an experienced professional engaged for the specific purpose. California CLASS is not a bank. An investment in California CLASS is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the California CLASS prime-style fund seeks to preserve the value of your investment at S1.00 per share, it cannot guarantee it will do so.
Please review the California CLASS information Statement before investing. California CLASS is rated 'AAAm' by SSP Global Ratings. A 'AAAm' rating by SSP Global Ratings is obtained after S6P evaluates a number of factors including credit quality, market price exposure, and management. For a fail description on rating metnodology, please visit www.spglobai.com California CLASS Enhanced Cash is rated 'AAAf/Sr by FitchRatings Tne 'AAA!' rating is Fitch's opinion on the overall credit profile within a fixed-income fund/portfolio ana indicates the highest underlying credit quality of the pool's investments. The 'SV votatility rating is Fitch's opinion on the relative sensitivity of a portfolio's total return and/or net asset value tc assumed changes in credit spreads and nteresl rates. The 'SI' volatility rating indicates that the fund possesses a low sensitivity tc market risks. For a full description on rating methodology, please visit www.fitchratings.com Ratings are subject to change and do not remove credit risk. For risks associated with investing in both a prime-style and enhanced cash-style local government investment pool, please visit www.catifoini3Ciass.com/rales-disd aimer Past performance is no guarantee of future results. Any financial and/or investment decision may incur losses.