Created in 2007, the Money Market Pool is FL SAFE's short-term cash management vehicle, designed to maintain safety and liquidity while preserving the capital of Florida governmental entities. One of the biggest benefits of the Money Market Pool is the ability to combine the purchasing power of many public entities, in order to attract higher interest rates for Participants.
How it Works
FL SAFE provides a vehicle that pools funds for investment in U.S. government obligations, agencies, commercial paper and other high quality short term instruments, creating an efficient way for Participants to manage their short-term investment needs.
Maintaining a Stable Net Asset Value
The primary goal of FL SAFE is to maintain $1.00 per share Net Asset Value (NAV). No investment pool or money market fund can "guarantee" a NAV of $1.00 per share. Investing in any type of security introduces elements of risk. Among those risks are interest rate risk, liquidity risk and credit risk. In a local government investment pool like FL SAFE, the task of the investment advisor is to mitigate those risks so that participants and taxpayer dollars are protected.
$1.00 per Share NAV Goal
Portfolio securities are valued using the amortized cost method of valuation. This method involves valuing each investment at cost on the date of purchase and assuming a constant amortization to maturity of any discount or premium. Amortized cost valuation provides certainty in valuation, but may result in valuations that are higher or lower than the market price of a particular portfolio security. As a result, the Fund has implemented Pricing Procedures for Stable Value LGIPs which require the portfolio to be priced at least weekly using a third-party pricing service. If the difference between the aggregate market value and the aggregate amortized cost of the portfolio securities exceeds 0.10%, key personnel at the investment advisor will be notified. If such difference exceeds 0.25%, the Fund’s Board will be notified and will consider what action, if any, should be initiated. If the market value remains between $0.9950 and $1.0050, transactions can be executed at $1.00 per share.
FL SAFE invests in high-quality short-term debt instruments and follows S&P’s credit rating requirements for credit quality, maturity, liquidity, diversification and internal controls. The Fund’s advisor has implemented risk management policies and procedures for purchasing and monitoring the Fund’s investments. Through these risk management techniques including those required by S&P for a AAAm rated Net Stable Value Fund, FL SAFE seeks to maintain a NAV of $0.9975 or higher as required to achieve a AAAm rating. According to S&P’s rating criteria, the AAAm rating signifies excellent safety of invested principal and a superior capacity to maintain a $1.00 per share Net Asset Value.
For a complete analysis of S&P rating methodology and the strategies employed to maintain a $1.00 NAV, view the S&P Fund Ratings Criteria document.
Download more information about PMA Financial Network, LLC here.
Other FL SAFE Service Programs
Cash Flow Management
Bond Proceeds Management
Financial Planning Program
Fixed Income Investment Program
Credit Risk Analysis
407.698.3001 | Email
7380 Sand Lake Road, Suite 650  |  Orlando, FL 32819

FL SAFE investment options include the FL SAFE Stable NAV Fund and FL SAFE Variable NAV Fund as separate managed investment portfolios whose holdings are subject to change, and Term Series portfolios (collectively “Funds”). Shares in FL SAFE Funds are offered and sold only based on the information contained in the current FL SAFE Information Statement which can be found here or can be obtained by calling 855.202.9650. These Funds are only offered and sold to units of local government under Florida statues as eligible participants in FL SAFE.

The Funds are neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Stable NAV Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in this fund. The Variable NAV Fund seeks to provide current income while maintaining limited price volatility. The Variable NAV Fund has a floating net asset value, and the net asset value of a Participant’s investment could decline below the amount originally invested by the Participant. You should consider the applicable Fund's investment objectives, risks, charges and expenses detailed in the Information Statement before you invest.

Information in the Knowledge Center and elsewhere on this website is intended for institutional investors and has been published for informational and educational purposes only. The information should not be considered as investment advice or a recommendation of any particular security, strategy or investment product, which may only be done after client suitability is reviewed and determined. This information does not represent an offer or solicitation to buy or sell shares of the FL SAFE Funds, or any other security. Information contained herein has been obtained from sources believed to be reliable, but is not guaranteed. Past performance is not a guarantee of future results. The FL SAFE service providers may, from time to time, voluntarily waive certain fees and expenses, which may affect the yield. Expenses are detailed in the Information Statement under "Fees and Expenses of the Funds."

FL SAFE Fund shares are marketed through PMA Securities, LLC., a broker-dealer and municipal advisor registered with the SEC and MSRB, and member of FINRA and SIPC. FL SAFE Fixed Income Investment Program investments are offered and sold through PMA Securities, LLC. and its affiliate, PMA Financial Network, LLC., which serves as Operational Manager to FL SAFE. PMA Asset Management, LLC., an SEC registered investment adviser and PMA affiliate, serves as the investment advisor to FL SAFE and Florida Management Administrative Services, LLC (FMAS) serves as Administrator to FL SAFE.