Source: US Dept. of Treasury End of Day
Texas entities invest billions annually in LGIPs and direct securities, governed by PFIA’s emphasis on principal preservation and liquidity. Challenges include:
Non-discretionary advisory services address these by providing independent analysis, allowing entities to retain fiduciary responsibility while leveraging specialized knowledge.
Texas public entities—encompassing over 2,500 local governments, school districts, and utilities—face mounting pressures to invest surplus funds effectively while adhering to the stringent requirements of the Texas Public Funds Investment Act (PFIA). In an era of fluctuating interest rates and economic uncertainty, non-discretionary advisory services offer a powerful solution: expert guidance that enhances decision-making without delegating authority.
When values align, we work better together. GPA listens, observes, and evaluates to craft programs specific to each client. We create long-term partnerships that deliver sustainable investment solutions. We comprehensively analyze your holdings—LGIPs, bank deposits, and investment portfolios—building customized strategies through our Guideline Portfolio Strategy GPSTM. Managing to your monthly liquidity needs and risk tolerance, we actively manage General Fund Portfolios, Bond Proceeds, and other Dedicated Funds. Our anticipatory approach addresses challenges before they arise, utilizing decades of expertise to facilitate competitive trades and PFIA-compliant Investment Policies. We honor relationships through transparent and respectful communication.
While Texas LGIP’s are a one size fits all approach with fees ranging from 4.5-17 bps, they are an important component of the liquidity portion of your portfolio. At GPA, we compliment your use of LGIP funds by adding additional diversification through the maturity structure of the Core Investment Portfolio. We provide customized portfolio management of the securities held at your third-party custodial bank.
GPA can help with Investment Policy Reivew & Stratedgy Review with out Guideline Portfolio Strategy GPSTM. We can provide PFIA educational sessions to client’s staff, investment committees and/or oversight fiduciaries at no additional expense.
We cover topics required by PFIA including Investment Policies, Investment Strategies, Authorized Investments, Risk Management, Reporting & Compliance, Ethics & Conflicts, and PFIA Statues & Rules
Using a benchmark as part of your investment management program creates a disciplined investment process and minimizes behavioral factors when buying and selling securities. We assist clients in the development of internal benchmarks that match the goals and objectives of each specific portfolio. GPA uses benchmark techniques as a key investment management tool to help provide investment results that are consistent with expectations and client directives.
GPA’s competitive pricing platform is an important advantage for clients. Our team seeks multiple sources for pricing in the market for every transaction. We provide complete transparency and competitive pricing documentation for all trades with our IPATM (Investment Proposal Analysis). If your working with a broker, your still paying fees through decreased yield. The savings on execution cost contributes directly to clients earnings and can offset advisory fees, effectively reducing the cost of the investment program.
GPA provides Monthly, Quarterly and Annual Reports as well as market forecasts to all our clients. Clients can access their portfolios and compliance data via our client portal where information is updated daily. Through the portal, clients can create reports for excel to incorporate with your internal systems for managment and accounting purposes. All this helps provide Accountability, Confidence, and Transparency for your organization and constituents.
