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Our Services Understanding the investment needs of Illinois public entities, IMET's creators established a strong, competitive, fund concept to meet their intermediate investing needs. IMET is the first fund to provide a convenient vehicle for investment of core cash, bond proceeds, capital funds and other one-to-three year dollars. |
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The Illinois Metropolitan Investment Fund (IMET) was developed in July 1996 as a cooperative endeavor to assist Illinois municipalities 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 175municipalities and public entities, IMET offers two separate investment vehicles to meet the investment needs of public entities.
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). Due to its investment policies and objectives, IMET continues to receive the highest ratings available (AAAf/S1) from Standard & Poor's Rating Service. View Performance 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. Arbitrage Rebate Calculation Sevices IMET has partnered with Pinnacle Arbitrage Compliance (Pinnacle) to provide Arbitrage Rebate Calculation Services for our participants. The services are available to all IMET participants and are provided by Pinnacle, one of the largest independent providers of arbitrage compliance service in this country. Pinnacle is dedicated to arbitrage compliance service for tax exempt bonds. IMET participants benefit from special pool pricing to IMET for the calculation services provided by Pinnacle, and under certain conditions, participants can take advantage of the calculation services at no charge to the participant.
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Why Invest in IMET?
By pooling the cash from many public entities into a single fund, IMET seeks to earn a higher return for its participants than could be achieved by individual investing. The combined purchasing power of IMET and its longer maturity structure benefits participants. Numerous other advantages include: Key Benefits
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