Investment Services
by and for
North Carolina Units of Local Government

Current Yield

Sponsored by the North Carolina Association of County Commissioners

The North Carolina Investment Pool (the NCIP or Pool) is a commingled local government investment pool established to invest idle funds in various short-term investments in accordance with North Carolina General Statute 159-30. NCIP is duly authorized under North Carolina General Statute 159-30(c)(10), was created by an interlocal agreement established under North Carolina General Statute 160A-461 through 464, and is administered by a statutorily compliant trust for the benefit of North Carolina units of local government.

It is governed by a board of trustees comprised of representatives of those units of local government. NCIP was created under the trust to pool and invest funds of its participants to take advantage of economies of scale to increase investment options for idle funds.

Meet the NCIP Trustees:

NCIP offers a range of services to assist participants with their investment and arbitrage compliance needs. It can be used for many types of government funds including general funds, operating funds, bond proceeds, debt service funds, operating reserves, and debt service reserve funds.

To learn more about NCIP, its objectives and how it aims to aid its participants, review the various educational materials available. 

NCIP Liquid Portfolio Highlights  

• A short-term portfolio rated AAAm by S&P Global¹ and AAAmmf by Fitch Ratings²
• Daily liquidity  
• 1 p.m. ET same-day wire transaction deadline  
• No account minimum  
• Availability to establish multiple accounts  
• Unlimited purchases and withdrawals
• Online transaction and reporting access available 24/7 with Connect

NCIP Term Portfolio Highlights

• Fixed rates on maturities ranging from 60 days to one year
• Portfolio rated AAAf by Fitch Ratings³
• Minimum investment of $1,000,000
• Noon ET deadline for same-day investments
• Principal and dividend paid at maturity
• Investments made from your NCIP Liquid Portfolio account and sweep back into it to help ensure funds are always invested
• Can help you plan around interest income streams
• Offers opportunity to lock in competitive interest rates
• Online transaction and reporting access available 24/7 with Connect

Arbitrage rebate compliance services⁴ are available for bond proceeds invested in NCIP. PFM Asset Management* tracks proceeds once they're invested in NCIP. Participants can expect to receive the following correspondence and reports:

• Spending exception and compliance report, including notification of an upcoming expenditure test date
• Yield restriction compliance notification
• Annual estimates of accrued arbitrage rebate and yield restriction liabilities
• Notification of Installment Calculation Date sent 60 days ahead of the required calculation date
• Retention of arbitrage related documents and investment records
• Rebate calculation reports at a nominal charge
  

Click here to view the NCIP Fact Sheet.

*  PFM Asset Management is a division of U.S. Bancorp Asset Management, Inc., which serves as administrator and investment advisor to NCIP.

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 AAAmmf Rating: portfolios with this rating denote the strongest capacity to achieve the investment objective of preserving principal and providing liquidity through limiting credit, market, and liquidity risk.  Please visit fitchratings.com for more information and ratings methodology.

3  Fitch AAAf Rating: portfolios with this rating indicate having the highest underlying credit quality. Please visit fitchratings.com for more information and ratings methodology.

4  Available under a separate agreement with the Investment Advisor. PFMAM does not provide tax, legal, or accounting advice. 

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. Participants should consider the North Carolina Investment Pool’s (“NCIP” or the “Pool”) investment objectives, risks, charges, and expenses before investing in the Pool. This and other information about the Pool is available in the Pool's current Information Statement, which should be read carefully before investing. A copy of the Pool's Information Statement may be available by calling 1-833-736-NCIP (1-833-736-6247) or is available on the Pool's website at www.investncip.com. While the NCIP Liquid Portfolio seeks to maintain a stable net asset value of $1.00 per share, and the NCIP Term Portfolio seeks to achieve a net asset value of $1.00 per share at its stated maturity, it is possible to lose money investing in the Pool. An investment in the Pool is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Pool are distributed by U.S. Bancorp Investments, Inc., member FINRA (www.finra.org) and SIPC (www.sipc.org). PFM Asset Management is a division of U.S. Bancorp Asset Management, Inc., which serves as administrator and investment adviser to the Pool. U.S. Bancorp Asset Management, Inc. is a direct subsidiary of U.S. Bank N.A. and an indirect subsidiary of U.S. Bancorp. U.S. Bancorp Investments, Inc. is a subsidiary of U.S. Bancorp and affiliate of U.S. Bank N.A.

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