The Kentucky League of Cities is excited to introduce the Enhanced Income Fund as a new investment offering for cities in the KLC Investment Pool program. This new pooled fund provides cities with an efficient way to invest and protect their reserve cash balances while maximizing the return on those assets. It is one of six investment options tailored to cities’ investment needs.
The Enhanced Income Fund is a flexible investment option designed to help cities manage their cash reserves more effectively while investing in a diversified portfolio of short-term U.S. Treasury and agency securities, with maturities ranging under two years. This investment option aims to remove the burden of reallocating matured certificates of deposit and provide direct access to the treasury market.
"Our mission at KLC is to provide innovative investment solutions that help cities achieve their financial objectives," Executive Director|CEO James D. Chaney said. "The Enhanced Income Fund is an expansion of our existing investment offerings in the KLC Investment Pool program, and it provides cities with a unique opportunity to diversify their securities and maximize their returns."
KLC Investment Pool’s Enhanced Income Fund is a pooled investment vehicle managed by an experienced investment team from PNC Institutional Asset Management with a proven track record of successfully managing investments for municipalities. The program is designed to provide cities with a simple, hassle-free way to invest their funds with the benefit of economies of scale to drive down costs.
"This new investment option is ideal for cities looking to achieve greater diversification and liquidity," Chaney added. "The Enhanced Income Fund is designed to provide cities with a flexible investment option that meets their specific needs."
The Enhanced Income Fund is available to all cities in Kentucky, regardless of size or budget. To learn more about the KLC Investment Pool program, or to enroll, contact KLC Financial Services Manager Steven Pickarski.