The Texas Range Investment Program (Texas Range) has been serving Texas’ local governments for more than 25 years and is proud to be a Platinum sponsor of GFOAT.
Given the financial challenges most local governments face, we believe it is important to consider how short-term cash balances can be managed efficiently. Texas Range offers four professionally managed investment options that can help investors make the most of their funds.
TexasDAILY and TexasDAILY Select are both daily liquidity options. While TexasDAILY invests in government securities only, TexasDAILY Select invests in the full range of Public Funds Investment Act (PFIA) permitted investments. Both options are ideal for operating funds, bond proceeds and reserve funds.
TexasTERM is a fixed-rate, fixed-maturity option ranging from 60 days to one year. The certificate of deposit (CD) purchase program offers CDs insured by the Federal Deposit Insurance Corporation (FDIC) with maturities ranging from 90 days to five years. These options are ideal for funds with known cash flows, such as liability matched funds, bond proceeds for capital projects, or excess liquidity not immediately needed.
Investors need options that are convenient to use and flexible depending on when they need their funds. The options available in Texas Range are meant to work together to help ensure funds are invested at all times. When a TexasTERM investment matures, for example, the principal and interest from that investment are swept into the investor’s liquid account, TexasDAILY or TexasDAILY Select, where they’re ready to be used to make a payment, or reinvested again in TexasTERM to a date chosen by the investor.
Texas Range was created by and for Texas local governments. The Program provides investment options tailored to the needs of Texas cities, school districts, counties and other public investors. The Texas Range portfolios seek to provide these investors with safety, liquidity, flexibility and obtaining competitive yields. For more information and important disclosures, please visit texas-range.com.
Contact
