OUR INVESTMENTS
About The Program
NCIP is a comingled 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 the local governments and 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 the participating units of government to take advantage of economies of scale to increase investment options for idle funds. It offers a portfolio designed for daily liquidity and a portfolio for fixed-rate, fixed-maturity investments.
What are your investment options?
NCIP was created by and for North Carolina public finance professionals to offer another option for investment and cash management services. The NCIP Liquid Portfolio (the Liquid Portfolio) and Term Portfolio offers daily liquidity. Participants also have access to arbitrage rebate compliance services via PFM Asset Management (PFMAM)*.
Designed for Daily Liquidity
NCIP Liquid Portfolio
Structured to prioritize safety of principal, daily liquidity, and earning a competitive yield. Participants pay zero out-of-pocket expenses and receive interest payments monthly. There is no limit on subaccounts or transactions. Account access is available 24/7 online through Connect.
Designed for Term Investors
NCIP Term Portfolio
Structured to prioritize safety of principal, daily liquidity, and earning a competitive yield. Participants pay zero out-of-pocket expenses and receive interest payments monthly. There is no limit on subaccounts or transactions. Account access is available 24/7 online through Connect.
Helping You Simplify Investing Bond Proceeds
Arbitrage Rebate Compliance
PFMAM tracks the investment of the proceeds of tax-advantaged bonds that are fully invested in the Fund at the time of the bond closing. Participants can expect to receive various reports and correspondences free of charge.
What Does NCIP Invest in?
The Fund is managed to maintain a dollar-weighted average maturity (WAM) of 60 days or less and seeks to maintain a stable net asset value (NAV) of $1.00 per share. Investments include:
- Obligations of the U.S. Treasury
- Obligations guaranteed by agencies of the U.S. government where the payment of principal and interest are guaranteed by the U.S. government (full faith U.S. agency obligations)
- Repurchase agreements collateralized by U.S. Treasury and full faith U.S. agency obligations
- Obligations of the State of North Carolina
- Collateralized bank deposits
* PFM Asset Management is a division of U.S. Bancorp Asset Management, Inc., NCIP’s investment adviser and administrator
Contact Us
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.