NLAF is a separate legal and administrative entity organized and existing pursuant to the Nebraska Interlocal Cooperation Act and other Nebraska laws.

Investment options and services  

The Fund’s portfolio consists solely of investments permitted Nebraska law. NLAF also offers additional services authorized by the NLAF Board of Trustees and provided by PFM Asset Management¹ (PFMAM), the Fund’s administrator. Details about NLAF's investment options:

Additional Products 

The following products and services are authorized by the NLAF Board of Trustees. These services are provided by PFMAM and are separate from the Fund. They are available to investors under a separate agreement with the investment advisor:

Fixed-Income Investment Program 

This program enables NLAF investors to individually invest in government securities, certificates of deposit (CDs), and other fixed income investments permitted by Nebraska law. Details:

• Investors select from CDs of varying maturities issued by a variety of financial institutions
• The CDs available through this program are usually issued in denominations up to the maximum amount insured by the FDIC
• CDs held in this program are not part of the Fund. Within the limits and to the extent of insurance provided by the FDIC, CDs in this program may be separately insured by the FDIC from any CDs which may be held by the Fund
• To simplify recordkeeping requirements for investors, all CD principal and interest is credited at maturity when received by the Custodian to an investor’s Fund account
• Because interest is credited as described, investors will not have use of the interest earned on the CD, including the opportunity for reinvestment of interest earned, until maturity

Individually Managed Portfolios 

In addition to the Fund, NLAF offers investors the option to have an individual portfolio managed to meet specific investment objectives. Individually managed portfolios are linked to the investor’s NLAF account so that maturities and coupon payments are invested at all times.

Individually managed investment portfolios, which are not a part of the Fund, are available under a separate agreement with the investment advisor.

An individually managed portfolio provides a government unit with:

• The resources of PFMAM, a firm with more than 40 years of experience serving the public sector
• Investments tailored to meet the agency's liquidity needs or specific draw schedule
• Professional portfolio management focused on enhancing earnings and managing risk
• Investment purchases determined by the agency's investment policy or bond documents
• Competitive shopping for every security to seek the most favorable price and execution
• Third-party custody of all assets
• Investment management and custody services at a reasonable cost

Bond Account Management (BAM) Program 

With the BAM Program, PFMAM provides an investor with some or all of the following:

• Creation of a customized investment strategy and portfolio for proceeds of tax-exempt and taxable financings
• Disbursements for the bond financed project
• Arbitrage rebate services for proceeds of tax-exempt borrowings
• Investment policy review and development, cash flow modeling, and cash management services

Services for the BAM Program are arranged directly with PFMAM and determined after a review of various factors.

For more detail on the above programs, contact a Fund Representative.

1  PFM Asset Management is a division of U.S. Bancorp Asset Management Inc., NLAF’s investment advisor and administrator, that services public sector clients.