MAGIC - Home

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.

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.

Alert: Technical Issue

Due to a technical issue, the publication of monthly statements for fixed income separately managed accounts will be delayed. We are working to resolve this issue as soon as possible.

We apologize for any inconvenience. Should you have questions or require assistance, please contact your Relationship Manager or the Client Services Group.

Please enter your color in the box below for the top navigation bar and side navigation bar. Make sure there are no extra spaces in the box below:

#033349

Please enter your color in the box below for the login button and top left icon. Please make sure there are no extra spaces in the box:

#60C5EF

Please enter your font style below in the box.

*Make sure there are no extra spaces in the box and do not delete the box:

Poppins, sans-serif

This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security. Investors should consider the investment objectives, risks, charges and expenses before investing in any of the Fund’s portfolios. This and other information about the Fund’s portfolios is available in the Fund’s current Information Statement, which should be read carefully before investing. A copy of the Fund’s Information Statement may be obtained by calling 1-800-731-7150 or is available on the Fund’s website at www.magicfund.org. While the MAGIC Portfolio seeks to maintain a stable net asset value of $1.00 per share and the MAGIC Term Portfolio seeks to achieve a net asset value of $1.00 per share at the stated maturity, it is possible to lose money investing in the Fund. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Fund are distributed by U.S. Bancorp Investments, Inc., member FINRA (www.finra.org) and SIPC (www.sipc.org). PFM Asset Management is a division of U.S. Bancorp Asset Management, Inc., which serves as administrator and investment adviser to the Fund. U.S. Bancorp Asset Management, Inc. is a direct subsidiary of U.S. Bank N.A. and an indirect subsidiary of U.S. Bancorp. U.S. Bancorp Investments, Inc. is a subsidiary of U.S. Bancorp and affiliate of U.S. Bank N.A.