Invest Your Bond Proceeds In MOSIP To Receive Complimentary Arbitrage Rebate Service
Bond proceeds investments are getting a lot of attention right now, and with good reason. On July 1, 2014, the Securities and Exchange Commission (SEC) implemented its new rules pertaining to Municipal Advisors. As part of these new rules, municipal entities must now develop policies and procedures to help determine whether or not the advice they receive involves their bond proceeds investments, which essentially means that they must track all of their bond proceeds going forward. Public investors seeking to avoid any complications related to the SEC’s new rules may want to consider segregating bond proceeds from other funds.
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In addition, PFMAM’s Arbitrage Group can assist MOSIP investors with post-issuance compliance (PIC) consulting services, including the development of processes and procedures to comply with IRS requirements. PFMAM’s PIC services help issuers achieve best practices—not just establishing or enhancing a policies document, but setting in motion a system of specific procedures and staff responsibilities designed to reduce the risk of compliance failures. PFMAM’s PIC services are available for an additional fee under a separate contract. |
Did you know that when you invest 100% of the proceeds of a bond issue in the Missouri Securities Investment Program (MOSIP) through either the fixed-rate investment program or the pool, arbitrage rebate services are included at no additional charge? This complimentary service is performed by PFM Asset Management LLC (PFMAM), the investment advisor for MOSIP. PFMAM’s Arbitrage Group is an experienced, dedicated team of specialists that has provided arbitrage rebate compliance services since 1989. PFMAM completed over 3,500 calculations in 2013 alone and offers Missouri schools the experience of a nationally based arbitrage rebate practice. Our specialists use sophisticated, internally developed models to evaluate each individual client’s arbitrage rebate situation and decide on a plan of action. In addition to investors in the 14 local government investment pools PFMAM manages (including MOSIP), PFMAM provides these services to over 350 separate issuers on an annual basis.
If you have invested 100% of the proceeds of a bond issue in MOSIP, make sure you are reaping the full benefits of your investment by receiving complimentary arbitrage rebate compliance services from PFMAM. To learn more, please contact Maria Altomare, Adam Gabriel, or Henry Sun at (800) 891-7910.
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 Missouri Securities Investment Program's portfolios. This and other information about the Program's portfolios is available in the Program's current Information Statement, which should be read carefully before investing. A copy of the Information Statement may be obtained by calling 1-877-MY-MOSIP or is available on the Program's website at www.mosip.org. While the MOSIP Liquid Series seeks to maintain a stable net asset value of $1.00 per share and the MOSIP Term portfolio seeks to achieve a net asset value of $1.00 per share at the stated maturity, it is possible to lose money investing in the Program. An investment in the Program is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Program'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 a wholly owned subsidiary of PFM Asset Management LLC.