Oregon State Treasury offers intermediate-term investment options to Government entities, when they
have funds that do not need to be used within a year timeframe.
- The Oregon Intermediate Term Pool (OITP) for State of Oregon agencies
- The Oregon Local Government Intermediate Fund (OLGIF) for local
Oregon Intermediate Term Pool (OITP) for State Agencies
The investment objective of OITP is to maximize total return (i.e.,
principal and income) within stipulated risk parameters. OITP is not
appropriate for funds needed to cover short-term (less than 1 year) needs.
OITP is not structured to provide 100% net asset value (NAV) on each
participant’s initial investment, and participants may experience gains or
losses on their OITP investments due to changes in market conditions. Funds
invested in OITP should be able to withstand greater price volatility to
achieve returns often associated with longer-term investments.
The Oregon Intermediate Term Pool is actively managed to maintain a short
duration through a diversified portfolio of investment grade quality fixed
income investments as prescribed in the portfolio guidelines. Based upon
historical market performance, it is anticipated that returns over extended
periods will be greater in OITP than in shorter maturity alternatives such
as the Oregon Short Term Fund (OSTF).
Treasury investment staff will achieve the investment
objectives through active management of the portfolio with the objective to
meet or exceed the Bloomberg Barclays 3-5 Year U.S. Aggregate Index.
This pool is not structured to provide 100% net asset value on each
participant’s initial investment at all times. Due to interest rate changes
and market movements, it is possible to lose money by investing in OITP.
For consistency with the portfolio’s total return objective, the value of
each participant’s investment will be determined on a proportional basis to
the net market value of the entire portfolio.
Shares in OITP represent a divisible interest in the underlying securities
and are not federally insured or guaranteed by the U.S. Government, Federal
Deposit Insurance Corporation, any federal agency or the State of Oregon.
OITP has not been approved by the Securities and Exchange Commission.
A state agency may qualify to invest in OITP by completing the requirements
listed below. Confirmation of completion of each requirement should be
provided to Treasury investment staff at OITP@ost.state.or.us.
a. OITP is an eligible investment for the agency’s surplus funds per
ORS 293.861 and ORS 293.863.
b. Existing Account with the Oregon Short Term Fund.
c. Following documents completed:
Annual Audit Statements
OITP Fund Facts
Local Government Intermediate Fund (OLGIF) Information
OLGIF Fund Facts
Any information provided herein has been prepared from sources believed to
be reliable but is not guaranteed, and is for informational purposes only.
The information provided herein should not be regarded as an offer to sell
or as a solicitation of an offer to buy the products mentioned. No
representation is made that any returns will be achieved. Past performance
is not indicative of future results. Opinions expressed herein are subject
to change without notice. The securities and funds mentioned in this
document may not be eligible or suitable for all types of investors.