![]() |
||||||||||||||||||
|
||||||||||||||||||
The Illinois Metropolitan Investment Fund (IMET) was developed in July 1996 as a cooperative endeavor to assist Illinois public entities with the investment of their intermediate-term dollars. IMET was established as a not-for-profit investment fund under the Illinois Municipal Code. Currently serving more than 215 municipalities and related governmental bodies, IMET offers two separate investment vehicles to meet the investment needs of public funds. The IMET 1-3 Year Fund is designed as an investment vehicle for public funds not required to be spent in the near term and are available for investment in securities with slightly longer average maturities. Although the 1-3 Year Fund is designed for funds that may be invested for a year or more, there is no minimum investment term and there are no “early” withdrawal/redemption fees or penalties for funds invested for less than one year. The 1-3 Year Fund provides 5 day liquidity; participants are able to redeem investment shares with 5 business days notice to the IMET Operations desk. The IMET 1-3 Year Fund has a fluctuating net asset value (NAV) and an average portfolio maturity of 1-to-3 years. IMET invests exclusively in U.S. government backed securities (Treasuries and Agencies). Due to its investment policies and objectives, IMET continues to receive the highest ratings available (AAAf/S1) from Standard & Poor’s Rating Service. The IMET Convenience Fund is a fully collateralized, short-term money market instrument for the convenient investment of bond proceeds, for the temporary investment of longer-term intermediate funds, and/or for cash management and liquidity purposes. The Convenience Fund earns interest at a rate equal to the fed funds target rate. The current rate is listed on IMET's home page.
How do I start investing?
Supporters DuPage Mayors and Managers Conference Illinois City/County Managers Association Illinois Government Finance Officers Association Illinois Municipal League Metropolitan Water Reclamation District (MWRD) Northwest Municipal Conference Rapid Transit Authority South Suburban Mayors and Managers Association Thorn Creek Sanitary District West Central Municipal Conference Will County Governmental League |
||||||||||||||||||
| About Us : Membership : Services : Financials : News : Help Desk : Site Map : Disclaimer : Contact Us | Web Design by The Z Plane, LLC | |||||||||||||||||