Prime - California CLASS

California CLASS Investment Options

What is California CLASS?

The California Cooperative Liquid Assets Securities System (California CLASS) is a joint exercise of powers entity authorized under Section 6509.7, California Government Code. California CLASS is a pooled investment option that was created via a joint exercise of powers agreement by and among California public agencies. California CLASS provides California public agencies with a convenient method for investing in high-quality, short- to medium-term securities carefully selected to optimize interest earnings while prioritizing safety and liquidity. The California CLASS Prime and Enhanced Cash funds offer public agencies the opportunity to strengthen and diversify their cash management programs in accordance with the safety, liquidity, and yield hierarchy that governs the investment of public funds.

California CLASS strives to minimize risk by managing its portfolios in a manner that prioritizes principal preservation and only invests in securities that are permitted pursuant to the laws of the state of California and the California CLASS Investment Policies.

The management of California CLASS is under the direction of a Board of Trustees comprised of eligible Participants of the program. The Board of Trustees has appointed Public Trust Advisors, LLC to serve as the Investment Advisor and Administrator of the program and has appointed U.S. Bank as the Custodian.

Who Can Participate?

Participation in California CLASS is open to all public agencies in the state of California that have the authority to invest their treasury’s funds. According to California Government Code 6500, the federal government or any federal department or agency, this state, another state or any state department or agency, a county, county board of education, county superintendent of schools, city, public corporation, public district, or regional transportation commission of the State of California or another state, or any joint powers authority formed pursuant to this article [Article 1 of the Joint Exercise of Powers Act] by any of these agencies can participate in California CLASS. Additionally, according to Section 6509.7, a nonprofit corporation whose membership is confined to public agencies or public officials may also participate.

Common FAQs

How can I participate in California CLASS?

New public agencies looking to invest in either of the California CLASS portfolios will first need to complete the California CLASS Registration Packet. For more information, please contact the California CLASS Relationship Team to receive the necessary paperwork to get started.

Does California CLASS limit the number of subaccounts a Participant can have?

No, there is no limit to the number of subaccounts a Participant may have.

What is the minimum requirement for investing in California CLASS?

There is no minimum investment amount for either of the California CLASS portfolios.

California CLASS Product Suite

California CLASS can provide public agency with a comprehensive, professionally managed approach to investing your funds. California CLASS currently offers two investment options:

California CLASS
Prime

California CLASS
Enhanced Cash

Portfolio Type

Prime-Style

Enhanced Cash

Purpose

Operating Funds

Strategic Reserves

Rating

‘AAAm’ Rated by S&P Global Ratings*

‘AAAf/S1’ Rated by FitchRatings**

Liquidity

Daily

Next-Day

Min/Max Investment

None

Online Reporting

Transaction confirms, monthly & on-demand statements

Withdrawals

Unlimited

Accounts

Unlimited

Investment Horizon

Day-to-Day

12-18 Months

WAM

≤ 60 Days

90-200 Days

Learn More About Our Portfolios

California CLASS Prime

California CLASS Enhanced Cash

Contact an Investment Professional with Your Questions

Bob Shull

Senior Director, Investment Services

(925) 872-1007

Crystal Lynn

Director, Investment Services

(949) 701-5400

*California CLASS is rated ‘AAAm’ by S&P Global Ratings. A ‘AAAm’ rating by S&P Global Ratings is obtained after S&P evaluates a number of factors including credit quality, market price exposure, and management. For a full description of rating methodology, please visit www.spglobal.com. **California CLASS Enhanced Cash is rated ‘AAAf/S1’ by FitchRatings. The ‘AAAf’ rating is Fitch’s opinion on the overall credit profile within a fixed-income fund/portfolio and indicates the highest underlying credit quality of the pool’s investments. The ‘S1’ volatility rating is Fitch’s opinion on the relative sensitivity of a portfolio’s total return and/or net asset value to assumed changes in credit spreads and interest rates. The ‘S1’ volatility rating indicates that the fund possesses a low sensitivity to market risks. For a full description of rating methodology, please visit www.fitchratings.com. Ratings are subject to change and do not remove credit risk.

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. 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. For risks associated with investing in both a prime-style and enhanced cash-style local government investment pool, please click here. Past performance is no guarantee of future results. Any financial and/or investment decision may incur losses.