California CLASS is a Joint Powers Authority investment pool that was created in accordance with the Joint Powers Act. A statutorily-permitted investment, California CLASS provides special districts the opportunity to invest their funds in a professionally managed investment pool.
Special districts across the State of California rely on the valuable services and the technical expertise the California Special Districts Association (CSDA) provides. CSDA and California CLASS have partnered to assist California’s special districts in accessing investment services designed for their unique needs.
You’re busy managing your special district, and as a public finance official, you are responsible for budgeting, investing idle cash, annual reports, auditing, and the list goes on… At California CLASS, we know that you’re working on a variety of projects that take time, effort, and resources; this is why we’ve designed an investment program with the following features:
California CLASS understands that the fundamental and primary investment objective of any public official responsible for managing public funds is to preserve principal. Similarly, the fundamental and primary investment objective of the California CLASS Prime Portfolio is the safety of your district’s principal.
When it comes to managing investments, there is safety in diversity. California CLASS offers special districts the opportunity to diversify their liquidity at the overall portfolio level by investing in a pooled investment that is comprised of hundreds of individual securities as permitted by California Government Code and the California CLASS Investment Policies. Given the time, resources, and expertise involved, it may be difficult for a special district to achieve this level of diversification on its own.
Seamlessly make contributions and redemptions to and from your investment account and subaccounts via ACH and wire. There are no account minimums, you can create unlimited subaccounts for fund segregation purposes, and California CLASS does not charge wire fees.
On-demand account access allow you to export your monthly statements and see balances, view historical transactions, and download transaction confirmations for your auditors and related bookkeeping responsibilities from a straightforward and intuitive Participant Portal.
Securely manage who has access to your investment accounts and maintain up-to-date bank information on file.
California CLASS enables you to put checks and balances in place. By using dual authorization and multi-factor authentication when transacting in the Participant Portal, your special district can enhance its own internal security procedures and protocols.
Check out our investment calculator to see how much your special district could have earned if your entity had invested its cash since California CLASS launched.
The Board of Trustees is comprised of public finance officials like you.
Alameda County Mosquito
Town of Discovery Bay
Community Services District
California CLASS is designed to assist your special district in managing your cash easily and efficiently, saving you time and enabling you to focus on your district’s other important initiatives. Manage your investments in an easy-to-use transaction portal by utilizing these features:
When you call California CLASS, you are connected to our dedicated Client Service team. Our Client Service professionals can answer any questions and fulfill any requests related to the administration of your District’s California CLASS account.
Additionally, California CLASS is serviced by several investment advisers who are available to present to your Board and meet with stakeholders about participating in the Joint Powers Authority investment pool.
Investing in California CLASS helps to diversify your District’s cash not only because it’s an additional holding but also because California CLASS is comprised of hundreds of different California Government Code-permitted investments.
The portfolio’s investments are professionally managed, vetted, and monitored by an internal credit research and portfolio management team. In addition, the California CLASS Prime Fund is monitored by S&P Global Ratings on a weekly basis. The consolidated depth and breadth of the California CLASS portfolio can be difficult for many special districts to create and manage on their own because of the time and costs involved in doing so.
California CLASS Prime and Enhanced Cash are managed to a $1.00 stable Net Asset Value (NAV) and a $10.00 transactional share price, respectively. LAIF is managed differently in that it does not strive to maintain a stable NAV nor attempt to approximate a share price. Other differences include:
For these reasons, California CLASS could make sense for your District as a complement to LAIF or any of its other cash holdings.
Enhance your ability to manage your assets more efficiently and effectively while prioritizing safety and liquidity. Our team of investment professionals are here to assist you every step of the way.
Many factors affect performance including changes in market conditions and interest rates and in response to other economic, political, or financial developments. Investment involves risk including the possible loss of principal. No assurance can be given that the performance objectives of a given strategy will be achieved. 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. The information presented should not be used in making any investment decisions. This material is not a recommendation to buy, sell, implement, or change any securities or investment strategy, function, or process. Please review the California CLASS Information Statement(s) before investing. California CLASS is not a bank. An investment in California CLASS is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the California CLASS prime-style fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. Please review the California CLASS Information Statement(s) located in the Document Center before investing. For risks associated with investing in both a prime-style and enhanced cash-style local government investment pool, please click here. Past performance is not an indication of future performance. Any financial and/or investment decision may incur losses.