What is TrustINdiana Term Series?
The TrustINdiana Term Series Fund (Term Series) is a specially designed feature for active TrustINdiana Participants. The Term Series allows Participants who meet certain criteria to invest in fixed-term investments with maturities between 90 and 365 days. Each Term Series will consist of deposits in financial institutions designated by the state as a depository of public funds.
How Does TrustINdiana Term Series Work?
Monies that are directed to a Term Series by an active Participant will be invested by the Investment Advisor in accordance with Indiana Law and eligible Indiana banks. Each Term Series investment is an independent transaction of the respective Participant that may be pooled with other Term Series investments of other Participants, creating a new fund within the Term Series program.
- The TrustINdiana Participant(s) that wish to participate in a Term Series will pool together their monies to be invested in conjunction with other participating TrustINdiana Participant(s) (if applicable) at the time of the Term Series creation.
- The Investment Advisor (Public Trust Advisors) will execute a bundled transaction to purchase eligible deposits in financial institutions designated by the state maturing between 90 and 365 days.
- Once investments are purchased, Term Series funds will be created (Fund ABC 1, ABC 2, ABC 3, and so forth).