
Tulsa, Oklahoma, January 21, 2025 – Public Trust Advisors, LLC (Public Trust) is pleased to announce the launch of the newly created local government investment pool (LGIP), Oklahoma Cooperative Liquid Assets Securities System (Oklahoma CLASS). The investment pool was created as a service for Oklahoma units of local government to jointly invest their cash in a convenient, professionally managed fund to potentially generate additional interest income.
Oklahoma CLASS is an independent LGIP designed to meet the cash management and short-term investment needs of Oklahoma local governments. The fund seeks to preserve capital, provide daily liquidity, and generate competitive returns for its participants.
The Oklahoma CLASS Interlocal Agreement was established in conjunction with the creation of the initial Board of Trustees represented by Chairperson Jason Carini of Rogers County, Matthew Boggs of City of Oklahoma City, Jason Dockins of Town of North Enid, Jacob McHughes of Cleveland County, Chris Schroder of the Association of County Commissioners of Oklahoma (ACCO), Mike Fina of the Oklahoma Municipal League (OML), and Randy Ross – a qualified non-participant.
“Oklahoma CLASS was created as a resource for cities and counties to manage their public funds. The public school system has benefited from a local government investment pool (LGIP) for over two decades, and it is exciting for cities and counties to now have a pooled investment option as well,” said Mr. Jason Carini, Oklahoma CLASS Board Chairman. “Oklahoma CLASS is an investment option and diversification tool for short-term investments. The fund offers a safety-first investment management option with transparent program governance.”
Public Trust will serve as the investment adviser and administrator for Oklahoma CLASS. Currently, Public Trust provides similar investment services for approximately 7,500 local government investment pool clients nationally with current combined assets of nearly $91 billion as of June 30, 2024. UMB Bank, N.A. serves as the third-party custodian and Floyd & Driver, PLLC provides legal counsel to the program.
“Our team at Public Trust is thrilled to partner with the Oklahoma CLASS Board of Trustees; together, we seek to provide an exceptional investment experience to the government marketplace in Oklahoma. We believe that Oklahoma CLASS will provide government investors with a convenient option to help diversify their short-term investments,” said Laura Glenn, CFA®, Senior Director of Investment Services at Oklahoma CLASS.
For additional information regarding the services provided by Oklahoma CLASS, please contact Oklahoma CLASS Client Services at (833) 201-0102 or visit https://www.oklahomaclass.com.