Gov. Nathan Deal and Georgia Treasurer Tommy Hills announced that the nationally recognized credit rating firm of Standard and Poor’s affirmed its highest money market fund rating of AAA for Georgia’s own Georgia Fund 1.
“Georgia continues to demonstrate excellence in terms of AAA ratings,” said Deal. “The success of Georgia Fund 1 is a reflection of our state’s commitment to sound fiscal management, even during the worst of budget crunches.”
Hills echoed his sentiment.
“I am gratified that Standard and Poor’s continues to assign its highest rating to Georgia Fund 1,” said Hills. “This is a clear signal to Georgians that their governmental funds are being invested in adherence with the highest standards of money management.”
For the past 30 years the Office of the Georgia State Treasurer has managed and administered a local government investment pool (LGIP) called Georgia Fund 1. The LGIP is available for the short-term investment funds of Georgia’s county and city governments and school boards, co-investing with the state treasury and Georgia’s colleges and universities. Georgia Fund 1 operates like a traditional money market fund for governments providing all investors with safety, liquidity and competitive investment returns.
Georgia Fund 1 is one of the largest LGIP’s in the nation, and for the past 20 years its investment performance has outperformed the benchmark returns for all LGIP’s. More than $8.5 billion is currently invested in Georgia Fund 1.