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Investment Options


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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 

NJ/TERM 

  • Fixed-rate, fixed-term investments for periods of one month up to one year.

Open-Market Securities  

  • 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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This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buy or sell units of the NJ/ARM Joint Account, NJ/TERM or any other security. Investors should consider the investment objectives, risks, charges and expenses before investing in the NJ/ARM Joint Account and NJ/TERM. This and other information about the NJ/ARM Joint Account and NJ/TERM are available in the NJ/ARM Information Statement, which contains important information and should be read carefully before investing. A copy of the NJ/ARM Information Statement may be obtained by calling 1-800-535-7829 or is available on the NJ/ARM website at www.njarm.com. While the NJ/ARM Joint Account seeks to maintain a stable net asset value of $1.00 per unit and NJ/TERM investments seek to achieve a net asset value of $1.00 per unit at their stated maturity, it is possible to lose money investing in the NJ/ARM Joint Account and NJ/TERM. An investment in the NJ/ARM Joint Account or NJ/TERM is not guaranteed or insured by the Federal Deposit Insurance Corporation or any other government agency. Units of the NJ/ARM Joint Account and NJ/TERM are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) (www.finra.org) and Securities Investor Protection Corporation (SIPC) (www.sipc.org). PFM Fund Distributors, Inc. is a wholly owned subsidiary of PFM Asset Management LLC.


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