The purpose of TrustINdiana is to allow local units of government (e.g., counties, municipalities, school corporations, townships, and other units of local government) as well as the State of Indiana to invest in a common pool of investment assets that preserves the principal of the public’s funds, remains highly-liquid, and maximizes the return on the investment. TrustINdiana was authorized by the Indiana General Assembly’s passage of Indiana Code § 5-13-9-11 during its 2007 session. The Indiana Treasurer of State has been designated by statute as the administrator of TrustINdiana. The Treasurer has contracted with Public Trust Advisors, LLC, an SEC-registered investment advisor, to provide the administration, and certain portfolio management and marketing services for the program not retained by the Treasurer’s office. The Bank of New York serves as the custodian.
TrustINdiana provides all Indiana local units of government and agencies of the State the opportunity to invest in concert, benefiting from the inherent economies of scale, and to utilize an alternative designed specifically for public funds. TrustINdiana only invests public sector funds in securities and other investments which are legally permitted pursuant to Indiana law and in the manner further defined by the TrustINdiana investment policy.
In recognition of the fact that the investments of the Participants are public funds temporarily invested until needed for expenditure for governmental purposes, the TrustINdiana program is operated in furtherance of the following objectives: legality and suitability, preservation and safety of capital, liquidity, diversification and yield.
One of TrustINdiana’s primary objectives is the preservation of principal. It seeks to maximize investment safety through the purchase only of securities which are legally permitted pursuant to Indiana law and as further defined in the investment policy. Safety is further enhanced by limiting the term of specific investments, asset class diversification, as well as the weighted average maturity of the entire portfolio to correspond conservatively with cash flow expectations and to mitigate any market timing risk.
Fifty percent of TrustINdiana’s portfolio is required to be deposited in Indiana bank deposit accounts that are insured by both the FDIC and the Indiana Public Deposit Insurance Fund. The Public Deposit Insurance Fund, administered by the Indiana Board of Depositories, insures public money on deposit in approved depositories in the event of bank failure. See the current copy of the TrustINdiana investment policy for more details.
Participation in TrustINdiana is available to any Indiana local unit or the State of Indiana. To join TrustINdiana, a Participant needs to complete a Registration Form and deliver these forms to the TrustINdiana Client Service Desk via e-mail, mail or fax.
Please refer to the TrustINdiana Information Statement for more details.
Public Trust Advisors
2012 Annual Report with Auditor’s Opinion
2013 Annual Report with Auditor's Opinion
2014 Annual Report with Auditor's Opinion
2015 Annual Report with Auditor's Opinion
2016 Annual Report with Auditor's Opinion
Professional Service Providers
Auditors: London Witte Group, LLC
Custodian: The Bank of New York Mellon Corporation
General Counsel: Barnes & Thornburg, LLP