The Pooled Money Investment
Portfolio

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The
PMIP, which is managed by the State of Kansas Pooled Money
Investment Board, is comprised of all funds residing in the State
Treasury; from various State Agencies, as well as, local
governments and school districts located within the state of
Kansas.
The PMIP’s primary objectives are securing principal,
providing
liquidity, and achieving a market rate of return. To provide for these
objectives, the PMIP invests mainly in U.S. Government Securities
(which include U.S. Treasury instruments and Federal Agency issues),
repurchase agreements backed by such securities,
‘A1+/P1’ and ‘A1/P1’ rated
Commercial Paper, AA-/Aa3 (minimum) rated Corporate Bonds, and Kansas
Bank deposits.
The
Portfolio’s short duration target and its high level of
liquidity
mitigate interest rate risk. The investment decisions are based mainly
on Cash Flow needs, which are closely monitored by the investment team.