Philadelphia, PA (PRWEB) March 11, 2014
The iMoneyNet’s Rated Money Fund Report, which annually ranks AAA-rated money funds, has reported that the PFM Funds Government Series in 2013 produced the highest gross return achieved in the Institutional and Retail funds sector, with total portfolio net assets between $100 million and $1 billion as of December 2013. The PFM Funds Government Series invests in U.S. Treasuries, Federal Agency obligations, and other Government Money Market Funds. It is rated “AAAm” by Standard & Poor’s.
Michael Varano, a Managing Director of PFM Asset Management LLC (PFMAM) who is the senior portfolio manager for the PFM Funds’ portfolios, commented today on the recent award. “We are extremely gratified that the 2013 performance of PFM Funds Government Series has been recognized by iMoneyNet. In the current market environment, where clients are looking for both performance and stability, PFM Asset Management is quite pleased to be recognized by an independent group like this.”
Marty Margolis, Chief Investment Officer and a Managing Director of PFMAM, noted that this is the sixth iMoneyNet performance award that PFMAM Government Funds have won in the past five years, with multiple category wins in some years. “We continue to follow the investment discipline that our professionals have employed for more than 30 years in the pooled money market sector.” He added, “And I’m pleased that the results have been recognized in this challenging market environment.”
PFM Funds is a Securities and Exchange Commission (SEC) registered investment company offering two no-load money market portfolios for institutional investors: the Prime Series and the Government Series. Both investment portfolios seek to provide shareholders with safety of principal, liquidity and a competitive rate of return by investing in high quality, short-term government securities and other money market instruments. The funds are specifically designed to meet the cash management and bond proceeds investment needs of public sector investors such as municipalities, other political subdivisions and governmental agencies and are also considered suitable for institutions such as corporations, universities, hospitals and not-for-profit organizations looking for conservative investment vehicles.
The PFM Funds Government Series is managed by PFM Asset Management LLC, an SEC registered investment adviser. At December 31, 2013, PFMAM had $50 billion in discretionary assets under management and provided advice for an additional $41.8 billion in non-discretionary assets. PFM’s clients are state and local governments, pension funds, non-profit corporations, and similar institutional investors.