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Item 32 - Adoption Authorizing the Investment of Monies into California Class Prime Fund
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Item 32 - Adoption Authorizing the Investment of Monies into California Class Prime Fund
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7/13/2023 10:56:05 AM
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7/12/2023 12:50:23 PM
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City Clerk
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Agenda Packet
Agency
Clerk of the Council
Item #
32
Date
7/18/2023
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What are the objectives of California CLASS? <br />Safety <br />The primary investment objective of the California <br />CLASS Prime fund is preservation of principal. Both <br />California CLASS portfolios are managed by a team of <br />investment professionals who are solely focused on the <br />management of public funds nationwide. The custodian <br />for California CLASS is U.S. Bank, N.A. <br />Liquidity <br />When you invest in the California CLASS Prime fund, <br />you have access to your funds on any business day. You <br />must notify California CLASS of your funds transaction <br />requests by 11:00 a.m. PT via the internet or phone. <br />There are no withdrawal notices for the daily -liquid <br />California CLASS Prime fund. Enhanced Cash is a <br />variable NAV fund that provides next -day liquidity and a <br />one -day notification of withdrawal. <br />Competitive Returns <br />California CLASS strives to provide competitive returns <br />while adhering to the objectives of safety and liquidity. <br />Participants benefit from the investment expertise and <br />institutional knowledge provided by the team of Public <br />Trust professionals. Portfolio performance is <br />strengthened by the extensive knowledge of California <br />public agency cash flows that the Public Trust team <br />possesses. <br />Ease of Use <br />To make cash management streamlined and efficient, <br />California CLASS includes many features that make it <br />easy to access account information and simplify record <br />keeping. Participants can transact on any business day <br />using the California CLASS phone number (877) <br />930-5213, fax number (877) 930-5214, email <br />clientservicesCa)californiaclass.com or via the California <br />CLASS Online Transaction Portal at <br />www.californiaclass.com. <br />Flexibility <br />You may establish multiple California CLASS <br />subaccounts. You will receive comprehensive monthly <br />statements that show all of your transaction activity, <br />interest accruals, and rate summaries. These <br />statements have been specifically designed to facilitate <br />public sector fund accounting and to establish a clear <br />accounting and audit trail for your records. <br />Legality <br />California CLASS only invests in securities permitted by <br />California State Code Section 53601; permitted <br />investments are further restricted to those approved by <br />the Board of Trustees as set forth in the California <br />CLASS Investment Policies. <br />Have Questions? Contact us or visit www.californiaclass.com for more information <br />M M M M <br />Bob Shull <br />Laura Glenn, CFA° <br />Brent Turner <br />Rodrigo Bettini <br />Director, Investment Services <br />Senior Director, Investment Services <br />Regional Director of Strategy <br />Director, Investment Services <br />bob.shull@californiaclass.com <br />laura.glenn@californiaclass.com <br />brent.turner@californiaclass.com <br />rodrigo.bettini@californiaclass.com <br />(213) 378-2070 <br />(404) 822-8287 <br />(303) 999-8190 <br />(813) 820-0703 <br />Any financial and/or investment decision should be made only after considerable research, consideration, and involvement with an experienced professional engaged for the specific purpose. Past <br />performance is not an indication of future performance. Any financial and/or investment decision may incur losses. Please see the Information Statement for further details on the fee calculation <br />and other key aspects about California CLASS. California CLASS Prime is rated 'AAAm' by S&P Global Ratings. A 'AAAm' rating by S&P Global Ratings is obtained after S&P evaluates a number of <br />factors including credit quality, market price exposure, and management. For a full description on rating methodology, please visit www.spglobal.com. California CLASS Enhanced Cash is rated by <br />1AAAf/S1' by Fitch Ratings. The 'AAAf' rating is Fitch's opinion on the overall credit profile within a fixed -income fund/portfolio and indicates the highest underlying credit quality of the pool's <br />investments. The'St' volatility rating is Fitch's opinion on the relative sensitivity of a portfolio's total return and/or net asset value to assumed changes in credit spreads and interest rates. The'S1' <br />volatility rating indicates that the fund possesses a low sensitivity to market risks. For a full description on rating methodology, please visit www.fitchratings.com. Ratings are subject to change and do <br />not remove credit risk. <br />T (877) 930-5213 1 F (877) 930-5241 1 www.californiaclass.com I clientservicesCa)californiaclass.com <br />
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