The Virginia Investment Pool Trust Fund (VIP) was established to provide political subdivisions of the Commonwealth of Virginia an investment vehicle to pool their funds and to invest under the direction and daily supervision of a professional fund manager. VIP was developed in 2013 by local Treasurers and investment officers with the sponsorship of the Virginia Association of Counties and the Virginia Municipal League.
The Stable NAV Liquidity Pool, rated AAAm by Standard & Poor’s (S&P), offers a stable net asset value, daily liquidity and a competitive yield. The Stable NAV Liquidity Pool is ideal for managing operating funds requiring immediate access. An online interface enables participants to connect their Liquidity Pool accounts to external bank accounts for convenient access.
The 1-3 Year High Quality Bond Fund, rated AA+f/S1 by Standard and Poor’s (S&P), is designed for funds that can be invested generally for one year or longer. The fund is considered a core investment for local governments, incorporating a diversified portfolio of security types authorized under the Code of Virginia. The 1-3 Year Fund’s returns are benchmarked against the Bank of America Merrill Lynch One-to-Three Year Corporate & Government Index.
VML/VACo Finance is the administrator of VIP. Public Trust Advisors, LLC (PTA) serves as Investment Manager. PTA is a Securities and Exchange Commission registered, independent investment advisor with significant local government investment pool experience. PTA manages more than $30 billion in public funds nationwide. Wells Fargo Bank is VIP’s custodian bank. Primary benefits of participation in the VACo/VML Virginia Investment Pool include professional investment management, diversification, shared costs, and competitive rates of return.