Overview
The Florida Trust Short Term Bond Fund, formerly referred to as FLGIT, is a member governed pooled investment program. The portfolio structure has been designed to add value over short term alternatives such as money market funds, while maintaining safety of principal and liquidity. The Florida Trust Short Term Bond Fund was the third local government investment pool in the nation to receive a rating from Standard & Poor’s. Its bond fund risk is S-1 and it maintains an AAAf credit quality rating.
Investment Returns
As of June 30, 2010 the Florida Trust managed $658,467,980.53. At a price per share of $22.9583 the Florida Trust has produced a 12-month total return of 3.547% and a market yield of 2.31%. This short term bond fund invests in U.S. Treasuries and Agency Securities, Mortgages, Commercial Paper, Asset-Backed Securities, and “A” rated Corporate Securities.
Program Information
Governance and Administration
The Florida Trust was co-created by the Florida Association of Counties (FAC) and the Florida Association of Court Clerks and Comptrollers (FACC) in 1991. The program is governed by a six member board of trustees, all of whom are local elected officials and informed by an advisory committee of six county appointees. The Florida Trust uses an independent investment advisor, custody bank and administrator which provides for a series of checks and balances. S&P reviews the portfolio on a monthly basis and the board meets no less than quarterly.
For Additional Information
If you would like additional information or to inquire as to how Florida Trust can assist in diversifying your investment portfolio, please contact Mike Moreno at (850) 205-8237 or (850) 443-0340 (cell).