Since 1946 FirstSouthwest has been a trusted leader in public finance. Along with JPMorgan Investment Management, FirstSouthwest administers two investment pools for local Texas governments: the Texas Short-Term Asset Reserve Fund (TexSTAR) and the Local Government Investment Cooperative (LOGIC).
These highly regarded programs offer Texas local governments investment options for their cash management programs that provide preservation of principal, daily liquidity, portfolio diversification and competitive yields, combined with an uncompromising commitment to service.
The investment pools are conservatively managed in full compliance with the Texas Public Funds Investment Act (PFIA). Both are rated AAAm by Standard & Poor’s and maintain a weighted average maturity of 60 days or less. The pools seek to maintain a constant dollar objective and fulfill all the requirements of the Texas PFIA for local government investment pools. To learn more about Standard & Poor's rating methodology, please visit the Standard & Poor's website
TexSTAR invests in treasury and agency securities and repurchase agreements fully collateralized by government securities, while LOGIC provides additional diversification by investing in treasury and agency securities and repurchase agreements as well as prime commercial paper.
TexSTAR and LOGIC both carry Standard & Poor’s highest rating of AAAm.
To learn more about Standard & Poor's rating methodology, please visit the Standard & Poor's website
The pools offer participants the flexibility and the technology to access funds daily with no penalties; interest is accrued daily and paid monthly. There is no minimum balance required and no limit on the number of individual accounts. Participants can initiate wire transactions for same-day settlement and ACH transactions for next day settlement until 4 p.m. Central Standard Time. The Internet transaction system allows clients to set up multiple banking instructions for online payments which can be used to make vendor and debt service payments directly to the payee.