Prime-style local government investment pool 

Enhanced cash local government investment pool 

Current and historical rate information
A comprehensive introduction to the different California CLASS portfolios 
Get to know our diverse and experienced public finance officials who oversee the program
Our administrator, auditor, custodian, and legal counsel
Enrollment documents, prospectuses, and financials 
Updates, newsletters, and special reports
Upcoming Board meetings, holidays, events, and conferences
Answers to commonly asked questions about California CLASS

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Assistance with your accounts and answers to your California CLASS questions
Contact our investment professionals who can provide you with information about the program 

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 maximizing 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

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.

No, there is no limit to the number of subaccounts a Participant may have. Furthermore, Participants may invest in either of the California CLASS portfolios.  

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
None
Online Reporting 
Transaction confirms, monthly & on-demand statements
Transaction confirms, monthly & on-demand statements
Withdrawals 
Unlimited

Unlimited

Accounts 
Unlimited
Unlimited
Investment Horizon 

Day-to-Day 

12-18 Months 

WAM 
≤ 60 Days

90-200 Days

Learn More About Our Portfolios

Contact an Investment Professional with Your Questions

Director, Investment
Services

(213) 378-2070

Regional Director
of Strategy 

(303) 481-0469

Senior Director, Investment Services

(404) 822-8287

Director, Investment
Services

(916) 823-3523

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. 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. Past performance is no guarantee of future results. Any financial and/or investment decision may incur losses.