Who is MSDLAF+?
The Minnesota School District Liquid Asset Fund Plus (“MSDLAF” or “the Fund”) was established on November 29, 1984 as a common law trust organized pursuant to the Minnesota Joint Powers Act. It was created to provide professional investment services to Minnesota school districts at a reasonable cost. MSDLAF offers its participants multiple professionally managed portfolios which offer competitive money market rates.
The Fund’s activities are directed by a Board of Trustees, all of whom are representatives of Minnesota school districts. The MSDLAF Board of Trustees contracts for services with professional service providers who are industry leaders in their fields. As a result, the Fund is accountable solely to its Participants.
The Minnesota School District Liquid Asset Fund Plus (the “Fund”) is a joint powers entity in the form of a common law trust organized and existing under the laws of the State of Minnesota in accordance with the provisions of the Minnesota Joint Powers Act (Minnesota Statutes, Section 471.59), as amended (the “Joint Powers Act”) to permit Minnesota School Districts to pool their investment funds to seek the highest possible investment yield, while maintaining liquidity and preserving capital. The Fund was established on November 29, 1984, by the adoption of a Declaration of Trust by three Minnesota School Districts as the initial Participants. The Declaration of Trust was amended on October 7, 1986, amended and restated on October 21, 1991, and further amended on October 23, 2006.
Management of the affairs of the Fund is the responsibility of the Board of Trustees elected by the Participants of the Fund. The Board of Trustees has engaged PFM Asset Management LLC (“PFM”) as administrator (the “Administrator”) and investment adviser (the “Adviser”) for the Fund.