PMA Expands LGIP Services in South Dakota
As of December 1, 2018, the Board of Trustees of the South Dakota Public Funds Investment Trust ("SD FIT") has voted to expand its relationship with PMA, appointing the Firm as the Administrator and Investment Advisor, along with expanding the support of the sponsoring association's marketing efforts of the SD FIT program.
NAPERVILLE, Ill., Dec. 10, 2018 /PRNewswire-PRWeb/ -- PMA Financial Network, Inc., PMA Securities, Inc. and Prudent Man Advisors, Inc. ("PMA") is pleased to announce that as of December 1, 2018, the Board of Trustees of the South Dakota Public Funds Investment Trust ("SD FIT") has voted to expand its relationship with PMA, appointing the Firm as the Administrator and Investment Advisor, along with expanding the support of the sponsoring association's marketing efforts of the SD FIT program. Prior to this new agreement, PMA served as the Fund's Fixed Rate Investment provider. "We are excited to expand our services with SD FIT and believe that our new relationship will result in exciting growth that will benefit Participants in the Fund," said Jim Davis, CEO. "We look forward to continued growth of LGIP relationships and the asset growth that benefits all of our clients," he added.
Working with SD FIT partners and sponsors for nearly a decade, the PMA team has had a partnership with the program that has served entities across the state, providing investment products, investment education and SD FIT program services throughout South Dakota. A number of PMA professionals will service SD FIT, led by Kent Johnson, PMA Senior Vice President and Director, as the primary contact, along with Sara Rankin from the South Dakota Municipal League, who stated, "The SD FIT Board of Trustees is thrilled with its decision to expand services within PMA and we look forward to sharing the new products and services that are available through PMA with our Participants, both new and old." Along with Sara, Kent will serve as the liaison between Participants and the SD FIT Program. "We are very excited for these new opportunities to service the Participants of SD FIT," said Kent Johnson. "This expansion of services will benefit the Fund greatly."
The PMA companies have been leaders in providing financial services to public entities since 1984 and currently serve over 2,500 local governments in 11 states, working with over $26.8 billion total investment assets under administration*. PMA is a service provider in various capacities to 11 local government investment pools similar to SD FIT. The company has built a reputation as a reliable, professional financial organization. SD FIT Participants will benefit by being able to take advantage of the products and services offered to its public sector clients. PMA has extensive experience both in and with public entities, including the team serving the SD FIT program.
*As of September 30, 2018. Total assets under administration include both money market pool assets for which the PMA companies serve as fund administrator/accountant, marketer/distributer, fixed income program provider (brokerage services), and/or investment advisory, or separate institutional accounts.
About SD FIT
Since 1991, the South Dakota Public Funds Investment Trust (FIT) has provided cash management services for Municipalities, Counties, School Districts, Townships, Water and Sanitary Districts, Cooperative Education Service Units, and Ambulance Districts. It is the only investment program exclusively managed for local governments in South Dakota. FIT was created under South Dakota Codified Law by the South Dakota Municipal League, South Dakota Counties and Associated School Boards of South Dakota. FIT has earned a reputation for offering superior safety, service and yield. Local governments in South Dakota are the one and only priority. http://www.sdpfit.org/
About The PMA Companies
PMA Financial Network, Inc., PMA Securities, Inc. and Prudent Man Advisors, Inc. (the PMA companies) are under common ownership. Prudent Man Advisors, Inc., an SEC registered investment adviser, provides investment advisory services to local government investment pools and separate accounts. Securities, public finance services and institutional brokerage services are offered through PMA Securities, Inc. PMA Securities, Inc. is a broker-dealer and municipal advisor registered with the SEC and MSRB, and is a member of FINRA and SIPC. All other products and services are provided by PMA Financial Network, Inc.
With services ranging from investment advisory work with Prudent Man Advisors to public finance work with PMA Securities, among others, the PMA companies are focused on achieving long-term financial success for their clients. With billions of dollars invested annually, the PMA companies provide over 2,500 public entities with a diverse lineup of customized financial solutions through a team of experienced professionals and innovative technology. PMA has built a record of success stories by meeting the needs of public entities. Additional information is available at http://www.pmanetwork.com.
SOURCE PMA Financial Network, Inc.
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