In 1989, the New York Cooperative Liquid Assets Securities System (NYCLASS) was created to provide New York municipal corporations with a way to invest funds on a cooperative basis. For the past 30 years, NYCLASS has remained focused on its primary objective: providing professional management of public monies through the careful selection of short-term investments designed to optimize safety, provide for daily liquidity, and generate a competitive rate of return.
After 30 years of successful operations, NYCLASS has recently seen significant increases in both assets under management and fund participation. This success is highlighted by a recent milestone for the fund as the program celebrated an all-time peak balance surpassing $2.5 billion in program assets in November of 2018 as well as the addition of more than 100 Participants over the past year.
“There are multiple people to thank for the success of the program from the hardworking staff at Public Trust Advisors, to our Participant-elected Governing Board, our Lead Participant, and our Executive Director. Most of all, we would like to thank our NYCLASS Participants who are the heart and soul of the program. Let us all celebrate our success together, an exceptional team effort with mutual passion and trust for the program,” – Robert Wheeling, Chairman of the NYCLASS Governing Board.
The NYCLASS program continues to be an established leader in safety and service to municipal corporations in New York state. Your Participant-elected Governing Board, together with the program administrator and investment advisor (Public Trust Advisors), extends their gratitude to all the NYCLASS Participants for their continued partnership in the program. “Our sincerest thanks for providing us with the opportunity to serve you every day; it is both an honor and a privilege to do so,” said Matt Starr, Director of Client Relations for NYCLASS and Public Trust Advisors.