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The NJ/ARM Program offers multiple investment options, allowing Investors to customize an investment solution to meet their particular investment needs.
Joint Account: maximum liquidity for bond proceeds and general funds
- A professionally managed investment fund with diversified asset classes and maturities that seeks to maintain a constant net asset value of $1.00 per share and limits its average maturity to 60 days.
- Separate accounting and subaccounting for a clear audit trail and simplified arbitrage rebate compliance. Unlimited accounts may be opened at no additional cost so that Investors may keep funds segregated.
- Rated AAAm by Standard & Poor's.
- Daily liquidity and no-fee redemptions either by Federal Reserve wire, Automated Clearing House (ACH) funds, or check.
- Competitive overnight rates.
Individual Portfolio: fixed rates for short/long-term investment of bond proceeds or operating reserves
- Fixed-rate, fixed-term investments for periods of one month up to one year.
- Individual securities consisting of U.S. Treasury or short-term Federal Agency securities or other permitted securities.
- Individual portfolios are linked to an Investors NJ/ARM Joint Account subaccount(s) for timely reinvestment of all maturities and coupon payments. As a result, an Investor's funds are fully invested at all times.
- Procured through competitive bidding process (3 bid minimum) to achieve competitive pricing.
- All securities are held in the Investor's name, by the Program Custodian, for a GASB Category 1 designation.
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