About IMET The Illinois Metropolitan Investment Fund (IMET) is a Triple-A rated, one-to-three year investment fund controlled by and for Illinois public funds managers and finance officers to enhance investment opportunity.

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 175 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 has a fluctuating net asset value and an average maturity of one-to-three years. Designed for public funds that may be invested for more than one year, IMET invests exclusively in US government-backed securities (Treasuries and agencies).

The IMET 1-3 Year Fund is designed as an investment vehicle for funds not required to be spent in the near term and are available for investment in securities with slightly longer average maturities.

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.

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