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Intermediate Term Investments

Intermediate Term Investments

Oregon State Treasury offers intermediate-term investment options to Government entities, when they have funds that they do not need to use immediately, and depending on the type of entity.

Those include:

     a. The Oregon Intermediate Term Pool (OITP) for State of Oregon agencies, and
     b. The Oregon Local Government Intermediate Fund (OLGIF) for local governments. 

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.

Qualification Process

A state agency may qualify to invest in OITP if it meets the requirements listed below*. Confirmation of completion of each requirement should be provided to Treasury investment staff at OITP@ost.state.or.us.

a. The investor must be a "State Agency" as defined in Oregon law, OITP is an eligible investment for the agency’s surplus funds per ORS 293.861 and ORS 293.863.
b. The investor must have an existing account with the Oregon Short Term Fund, and
c. The investor must complete the following documents:

OITP Information

OITP Application Forms

Disclosures

Annual Audit Statements

OITP Fund Facts

Local Government Intermediate Fund (OLGIF) Information

OLGIF Fund Facts

Disclaimer

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.

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