About The Fund
About The Fund
NLAF is a separate legal and administrative entity organized and existing pursuant to the Nebraska Interlocal Cooperation Act and other Nebraska laws.
Investment options and services
The Fund’s portfolio consists solely of investments permitted Nebraska law. NLAF also offers additional services authorized by the NLAF Board of Trustees and provided by PFM Asset Management1 (PFMAM), the Fund’s administrator. Details about NLAF's investment options:
Investment Options | |
NLAF | |
Investment Period | 1 Day Minimum |
Balance Requirements | $1.00 Minimum |
Additional Deposits | No Minimum |
Withdrawals | Unlimited |
Statements | Provided Monthly |
Transactional Charges & Fees | None |
Accounts | Unlimited |
Interest Earnings | Calculated Daily, Paid Monthly |
Credit Rating | AAAm by S&P Global2 |
Additional Products
The following products and services are authorized by the NLAF Board of Trustees. These services are provided by PFMAM and are separate from the Fund. They are available to investors under a separate agreement with the investment advisor:
Fixed-Income Investment Program
This program enables NLAF investors to individually invest in government securities, certificates of deposit (CDs), and other fixed income investments permitted by Nebraska law. Details:
- Investors select from CDs of varying maturities issued by a variety of financial institutions
- The CDs available through this program are usually issued in denominations up to the maximum amount insured by the FDIC
- CDs held in this program are not part of the Fund. Within the limits and to the extent of insurance provided by the FDIC, CDs in this program may be separately insured by the FDIC from any CDs which may be held by the Fund
- To simplify recordkeeping requirements for investors, all CD principal and interest is credited at maturity when received by the Custodian to an investor’s Fund account
- Because interest is credited as described, investors will not have use of the interest earned on the CD, including the opportunity for reinvestment of interest earned, until maturity
Individually Managed Portfolios
In addition to the Fund, NLAF offers investors the option to have an individual portfolio managed to meet specific investment objectives. Individually managed portfolios are linked to the investor’s NLAF account so that maturities and coupon payments are invested at all times.
Individually managed investment portfolios, which are not a part of the Fund, are available under a separate agreement with the investment advisor.
An individually managed portfolio provides a government unit with:
- The resources of PFMAM, a firm with more than 40 years of experience serving the public sector
- Investments tailored to meet the agency's liquidity needs or specific draw schedule
- Professional portfolio management focused on enhancing earnings and managing risk
- Investment purchases determined by the agency's investment policy or bond documents
- Competitive shopping for every security to seek the most favorable price and execution
- Third-party custody of all assets
- Investment management and custody services at a reasonable cost
Bond Account Management (BAM) Program
With the BAM Program, PFMAM provides an investor with some or all of the following:
- Creation of a customized investment strategy and portfolio for proceeds of tax-exempt and taxable financings
- Disbursements for the bond financed project
- Arbitrage rebate services for proceeds of tax-exempt borrowings
- Investment policy review and development, cash flow modeling, and cash management services
Services for the BAM Program are arranged directly with PFMAM and determined after a review of various factors.
For more detail on the above programs, contact a Fund Representative.
1 PFM Asset Management is a division of U.S. Bancorp Asset Management Inc., NLAF’s investment advisor and administrator, that services public sector clients.
2 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.-
Updated Information Statement Available
An updated Information Statement, dated October 1, 2024, is now available for review. Please click here to access the document. If you have any questions, please email CSGMWW@pfmam.com.
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Alert: Technical Issue
Due to a technical issue, the publication of monthly statements for fixed income separately managed accounts will be delayed. We are working to resolve this issue as soon as possible.
We apologize for any inconvenience. Should you have questions or require assistance, please contact your Relationship Manager or the Client Services Group.
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IMPORTANT MESSAGE: Columbus Day/Indigenous Peoples Day holiday
IMPORTANT MESSAGE: Due to the Columbus Day/Indigenous Peoples Day holiday, the Fund will be closed on Monday, October 14, 2024.
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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 1-877-667-3523 or is available on the Fund's website at www.nlafpool.org. 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 local government investment pools, such as the Fund, are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Investments in a local government investment pool are subject to liquidity risk, which may impact the pool's ability to sell investments in a timely fashion or at near face value in order to fulfill a participant's redemption request. Such investments are also subject to market risk, issuer risk, and default risk. Participants may lose money by investing in a local government investment pool, such as the Fund. 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.