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PFM Asset Management to advise Florida Education Investment Trust Fund

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PFM Asset Management has been selected to serve as investment adviser to the Florida Education Investment Trust Fund, an investment vehicle created by The Florida School Boards Association and the Florida Association of District School Superintendents to serve the investment needs of the State’s educational institutions.

The fund’s investment objective is to provide participants with the highest possible investment yield, while maintaining liquidity and preserving capital.

"We are extremely gratified to have been chosen as investment adviser for FEITF," says Steven Alexander, PFM Asset Management managing director and head of the firm’s Florida practice. "This is a very meaningful undertaking by Florida’s educational administrators on behalf of the State’s taxpayers. PFMAM was competitively chosen from a field of some 15 firms, and we are pleased that the Florida School Boards Association and the Association of School District Superintendents have demonstrated their confidence in PFMAM in such a definitive manner."

The fund opened to investors last week and has brought in more than USD33m in invested funds.

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