Introducing a New Investment Option for your Political Subdivision, Wyoming CLASS
Wyoming, July 16, 2020 – Public Trust Advisors, LLC (Public Trust) is pleased to announce the successful launch of the newly created local government investment pool (LGIP), Wyoming Cooperative Liquid Assets Securities System (Wyoming CLASS). The investment pool was created as a service for Wyoming political subdivisions to jointly invest their cash in a convenient, professionally managed fund in order to generate additional interest income.
Wyoming CLASS is an independent LGIP designed to meet the cash management and short-term investment needs of Wyoming political subdivisions. The fund seeks to preserve capital, provide daily liquidity, and generate competitive returns for its participants. S&P Global has assigned its ‘AAAm’ principal stability fund rating to Wyoming CLASS, the highest rating assigned to principal stability funds.
The Wyoming CLASS Indenture of Trust was established in conjunction with the creation of the initial Board of Trustees represented by Chairman Bill Novotny of Johnson County, Matthew McBurnett of the City of Rock Springs, and Jonathan Teichert of the City of Douglas.
“Wyoming CLASS was launched in response to the growing demand of Wyoming political subdivisions for a liquidity option that is governed by a Board of their peers who operate the fund with the best interests of the participants in mind,” said Mr. Novotny, Wyoming CLASS Board Chairman. “Wyoming CLASS provides a valuable investment option and serves as a great diversification tool for government investors in Wyoming looking for a safe and transparent investment option that seeks to deliver a consistently competitive return.”
Public Trust will serve as the investment adviser and administrator for Wyoming CLASS. Currently, Public Trust provides similar investment services for more than 5,000 local government investment pool clients nationally with current combined assets of nearly $40 billion as of June 30, 2020.
Peaks Investment Management (Peaks) serves as the distribution agent for Wyoming CLASS, U.S. Bank, N.A. serves as the custodian, and Freudenthal & Bonds, P.C. provides legal counsel to the program.
“Our team at Public Trust is thrilled to partner with Peaks Investment Management; together, we seek to provide an exceptional investment experience to the government marketplace in Wyoming. The professionals at Peaks have well-established client relationships forged over years of successful operations in Wyoming,” said Matthew Starr, Director of Client Relations at Public Trust.
“The launch of Wyoming CLASS is a dream come true for us; we are excited and humbled to have the opportunity to make a positive impact on the great local communities here in Wyoming,” added Troy Hunsucker, Director at Peaks.
For additional information regarding the services provided by Wyoming CLASS, please contact Wyoming CLASS Client Services at (866) 987-4445 or fill out the form below.