Welcome to the Minnesota Association of Governments Investing for Counties
The Minnesota Association of Governments Investing for Counties Fund (the MAGIC Fund or the Fund) is a joint powers entity in the form of a common law trust organized and existing under the laws of the State of Minnesota in accordance with the provisions of the Minnesota Joint Powers Act. The Fund was established in the fall of 1990 for the purpose of allowing Minnesota counties and instrumentalities of counties to pool their investment funds to seek the highest possible investment yield while maintaining liquidity and preserving capital.
Investments designed for Minnesota Counties and Instrumentalities of Counties
The MAGIC Fund provides investments tailored to the specific needs of Minnesota counties and county instrumentalities, investing only in instruments permitted under Minnesota law.
MAGIC Portfolio: Invests in a short-term money market portfolio that offers a competitive rate. The Portfolio seeks to maintain a stable $1.00 per share net asset value and stresses safety of principal as its primary objective. It is rated AAAm by S&P Global1.
MAGIC Term: Fixed-rate portfolio offering investments with maturities ranging from 60 days to one year. It is designed to match the cash flow requirements of investors with the cash flows from the portfolio. It is rated AAAf by Fitch Ratings.2
MAGIC Fund investors also have access to a range of additional products authorized by the Board of Directors and administered by PFM Asset Management3.
Structured for the Goals of its Investors
- The MAGIC Fund is sponsored by the Minnesota Association of County Auditors, Treasurers, and Financial Officers (MACATFO) and the Association of Minnesota Counties (AMC)
- The Fund is owned and operated by its investors, ensuring that it remains focused on the particular needs of Minnesota’s counties and instrumentalities of counties
- The Fund’s investors elect members of the Board of Trustees to govern it – a board that represents the investors of the Fund and representatives of MACATFO and AMC
- The Board of Trustees is responsible for overall management of the Fund, including formulation and implementation of investment and operating policies
For More Information
To find out more about how the MAGIC Fund can meet your needs, please contact a Fund representative at 800.731.7150.
1 S&P Global AAAm Rating: S&P evaluates a number of factors, including credit quality, market price, exposure, and management. Please visit SPGlobal.com/Ratings for more information and ratings methodology.
2 Fitch AAAf Rating: portfolios with this rating indicate having the highest underlying credit quality. Please visit fitchratings.com for more information and ratings methodology.
3 PFM Asset Management is a division of U.S. Bancorp Asset Management Inc., the MAGIC Fund’s investment adviser and administrator, that services public sector clients.
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Updated Information Statement Available
An updated Information Statement, dated October 1, 2024, is now available for review. Please click here to access the document. If you have any questions, please email CSGMWW@pfmam.com.
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