About The Program
About The Program
PLGIT was created in 1981 to meet the investment needs of local governments, school districts, municipal authorities, and other types of governments in the Commonwealth of Pennsylvania.
Unlike other Pennsylvania institutions where you can invest your money, PLGIT is owned and operated by its members. The Trust’s members sit on our board, set its investment goals and spur the development of new services. PLGIT also maintains a seasoned investment and service staff that works only for local governments and schools, so they have a keen understanding of your investment goals.
PLGIT’s investment objective is to seek high current income, consistent with preservation of capital and maintenance of liquidity. The Trust seeks to maintain a constant net asset value (“NAV”) per share of $1.00.
The Trust invests in high-quality, short-term U.S. debt securities including obligations of the United States and its Federal Agencies, bank deposits, either insured or appropriately collateralized, obligations of the Commonwealth of Pennsylvania, state-level agencies, or political subdivisions, and repurchase agreements. The portfolio maintains a dollar weighted average maturity of 60 days or less.
PLGIT Investors also have access to a range of additional fixed income investment products authorized by the Board of Trustees and administered by PFMAM.
For More Information
To find out more about how PLGIT can meet your needs, please call 1-800-572-1472 to speak to a PLGIT marketing representative.
IMPORTANT MESSAGE: Memorial Day holiday
IMPORTANT MESSAGE: Due to the Memorial Day holiday, the Fund will be closed on Monday, May 29, 2023.
Special Report: Debt Ceiling
In light of circumstances regarding the U.S. Government debt ceiling, we wanted to inform you that the PLGIT portfolios currently do not hold U.S. Treasury securities maturing prior to December 31, 2023. For more information on the debt ceiling, please see the investment manager’s recent update here.
Economic & Financial Markets Update Webinar
Please join PFM Asset Management LLC (PFMAM), PLGIT’s investment adviser, for a webinar Economic & Financial Markets Update, on Tuesday, June 20 at 11:00 a.m. During this webinar we will broadly cover areas of the U.S. economy and global markets that have effects on Pennsylvania public investors. Click HERE to register.
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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 investment objectives, risks, charges and expenses before investing in any of the Trust’s portfolios. This and other information about the Trust’s portfolios is available in the current Information Statement, which should be read carefully before investing. A copy of the Information Statement may be obtained by calling 1-800-572-1472 or is available on the Trust’s website at www.plgit.com. While the PLGIT and PLGIT/PRIME portfolios seek to maintain a stable net asset value of $1.00 per share and the PLGIT/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 Trust. An investment in the Trust is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Trust’s portfolios are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) (www.finra.org) and Securities Investor Protection Corporation (SIPC) (www.sipc.org). PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC.
A description of the PLGIT CD Purchase Program is contained in the PLGIT Information Statement. The Information Statement contains important information and should be read carefully before investing. Investors may purchase Certificates of Deposit through the PLGIT CD Purchase Program only by executing an investment advisory agreement with the Trust’s Investment Adviser, PFM Asset Management LLC.
SMPLGIT, PLGIT-Class Shares, PLGIT/Reserve-Class Shares, PLGIT/TERM, PLGIT-CD, PLGIT/PRIME, and PLGIT-CAP are service marks of the Pennsylvania Local Government Investment Trust.