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Florida Municipal Investment Trust (FMIvT)

Florida Municipal Investment Trust (FMIvT). The Florida Municipal Investment Trust (FMIvT) was created in 1995 to allow local governments to pool surplus and pension funds and invest in a variety of portfolios, utilizing economies of scale Separate independent legal entity

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Florida Municipal Investment Trust (FMIvT)

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  1. Florida Municipal Investment Trust (FMIvT) • The Florida Municipal Investment Trust (FMIvT) was created in 1995 to allow local governments to pool surplus and pension funds and invest in a variety of portfolios, utilizing economies of scale • Separate independent legal entity • Administered by the Florida League of Cities through contract • Authorized Investment under Section 218.415 Florida Statutes • Governed by a Board of Trustees comprised of Elected Officials of local governments who are members of the Trust

  2. FMIvT Board of Trustees • Julio Robaina (Chair) • Mayor, City of Hialeah • Joy Cooper • Mayor, City of Hallandale Beach • Margaret Bates • Deputy Vice Mayor, City of Lauderhill • David Lodwick • Mayor, Village of Royal Palm Beach • Bill Arrowsmith • Vice Mayor, City of Apopka • Beverley Billiris • Mayor, City of Tarpon Springs • Susan Starkey • Councilwoman, Town of Davie

  3. Investment Advisory Committee The Investment Advisory Committee meets regularly with the Administrator to assist and consult on issues regarding services offered by the Department.  The success of these programs is greatly attributable to the expertise and knowledge of these individuals.

  4. Advisory Committee Members • G. Michael “Mickey” Miller (Chair) • Chief Financial Officer, City of Jacksonville • Robert “Bob” B. Inzer • Clerk of the Circuit Court, Leon County • Joseph LoBello • Town Manager, Town of Juno Beach • Francine Ramaglia • Director of Administration & Financial Services, Village of Wellington • Margaret Simmons • Financial Services Administrator, City of Clearwater • Jane Struder • Finance Director, Town of Palm Beach • Mervyn C. Timberlake, Jr. • Director of Financial Services, City of Boca Raton • William F. Underwood, II • Bonnie Wise • Director of Revenue and Finance, City of Tampa

  5. Professional Team • Investment management • Atlanta Capital Management • Alliance Bernstein • Hotchkis & Wiley • INTECH/Janus • Oaktree Capital Management • Investment consultant • Asset Consulting Group • Rating agency • Fitch • Standard and Poor’s • Compliance monitoring • Asset Consulting Group • Auditor • Shorstein & Shorstein • Full support staff • Florida League of Cities Providing Professional Management and Extensive Oversight

  6. FMIvT Membership Benefits • Can accommodate investments of all sizes • Authorized Investment per FL Statutes • Frequent Liquidity • High Quality Investment Options • Professional Investment Management • Extensive Oversight • Low Fees • Instant Diversification • Saves staff time • Utilize FMIvT portfolios for a laddered approach • Personalized service from Florida League of Cities

  7. FMIvT Investment Options Reserve Fund Portfolio Options • 0-2 Year High Quality Bond Fund • 1-3 Year High Quality Bond Fund • Intermediate High Quality Bond Fund Pension/OPEB Assets Portfolio Options • Broad Market High Quality Bond Fund • Expanded High Yield Bond Fund • Diversified Small Cap Equity Portfolio • High Quality Growth Portfolio • Large Cap Diversified Value Portfolio • Russell 1000 Enhanced Index • International Blend Portfolio

  8. 0-2 Yr High Quality Bond Fund • Standard & Poor’s Credit Rating: AAA • Liquidity:  Twice Monthly • Target Duration: 0.50 – 1.25 Years • Benchmark:  Merrill-Lynch One Year Treasury Note Index • Expense Ratio:  23 basis points (.23%) • Min. Contribution:  $50,000 • Portfolio Manager: Atlanta Capital Management

  9. 1-3 Yr High Quality Bond Fund • Fitch Credit Rating: AAA • Liquidity:  Twice Monthly • Target Duration: 1.00 – 2.25 Years • Benchmark:  Merrill-Lynch 1-3 Year Government Index • Expense Ratio:  21 basis points (.21%) • Min. Contribution:  $50,000 • Portfolio Manager: Atlanta Capital Management

  10. Intermediate High Quality Bond Fund • Fitch Credit Rating: AAA • Liquidity:  Monthly • Target Duration: 3.00 – 4.50 Years • Benchmark:  Barclays Capital Intermediate Government/ Credit (Ex Baa) + ABS + MBS • Expense Ratio:  22 basis points (.22%) • Min. Contribution:  $50,000 • Portfolio Manager: Atlanta Capital Management

  11. For more information… Jeannie Garner Financial Services Director Florida League of Cities, Inc. (850)701-3623 jgarner@flcities.com Dustin Heintz Investment Services Manager Florida League of Cities, Inc. (850)701-3614 dheintz@flcities.com Or visit our website at www.fmivt.com

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