Understanding your investment options
About EPIC Fund NY
EPIC Fund NY (the Fund) was formed in 2025 by New York local government finance officers. It was created to offer a transparent, competitive, purpose-driven investment option for public entities across the state. The Fund reflects a shared commitment to stewardship, partnership, and the responsible management of public funds.
EPIC Fund NY is subject to the Municipal Cooperation Agreement dated as of October 30, 2025 (the Agreement) and is structured in accordance with New York State General Municipal Law (GML), Article 3-A and Article 5-G, Sections 119-n and o, as amended by Chapter 623 of the Laws of 1998. The Fund's investment and custodial policies are in accordance with GML, Sections 10 and 11 (as amended by Chapter 708 of the Laws of 1992). The Agreement is between the Town of Plattsburgh (Lead Participant) and each district and/or municipal corporation that formed the original EPIC Fund NY or that subsequently elects to participate.
The New York Association of Towns (NYAOT) is a founding sponsor of EPIC Fund NY. NYAOT was formed in 1933 to advocate on behalf of New York towns at the state and federal levels and to serve as a resource and source of connection for New York State towns and town officials.
A cooperative approach to investing
EPIC Fund NY was created by and for New York public finance professionals to offer another option for investment and cash management services. The EPIC Fund NY Liquid Portfolio (the Liquid Portfolio) offers daily liquidity. Participants also have access to arbitrage rebate compliance services via PFM Asset Management (PFMAM)*.
Designed for Daily Liquidity
EPIC Fund NY 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.
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 EPIC Fund 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 New York
- Collateralized bank deposits
* PFM Asset Management is a division of U.S. Bancorp Asset Management, Inc., the EPIC Fund NY’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. Investors should consider the Fund’s investment objectives, risks, charges and expenses before investing in the Fund. This and other information about the Fund is available in the Fund’s current Information Statement, which should be read carefully before investing. A copy of the Fund’s Information Statement may be obtained by calling 1-866-534-4802 or is available on the Fund’s website at www.epicfundny.com. While the Fund seeks to maintain a stable net asset value of $1.00 per share, it is possible to lose money investing in the Fund. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Fund 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 Fund. 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.