PHILADELPHIA, March 8, 2011 /PRNewswire/ -- The iMoneyNet's Rated Money Fund Report, which annually ranks AAA-rated money funds, has reported that the PFM Funds Government Series in 2010 again produced the highest net return achieved among the 255 AAA-Rated Government funds, as well as holding the same position among the 217 unrestricted funds that report performance data to iMoneyNet in the publication's Government Fund Category. This is the second year in a row that PFM has won the award for the AAA-Rated Government Institutional Category. To qualify, funds must have more than $100 million in assets and at least a 12-month track record at December 31, 2010. The PFM Funds Government Series invests in U.S. Treasuries, Federal Agency obligations, and other Government Money Market Funds. It is rated "AAAm" by Standard & Poor's and Aaa by Moody's Investors Service.
Marty Margolis, Chief Investment Officer of PFMAM and a Managing Director of The PFM Group, commented today on the recent award, noting "We are extremely gratified that the 2010 performance of PFM Funds Government Series has been recognized by iMoneyNet. In the current interest rate environment, where clients are looking for both performance and stability and returns have trended down, PFM Asset Management is quite pleased to be recognized by an independent group like this for our returns."
PFM Funds is a registered investment company offering two no-load money market mutual funds for institutional investors: the Prime Series and the Government Series. Both investment funds seek to provide shareholders with safety of principal, liquidity and a market rate of return by investing in high quality, short-term government securities and other money market instruments. The funds are specifically designed to meet the cash management and bond proceeds investment needs of public sector investors such as municipalities, other political subdivisions and governmental agencies, but are also considered suitable for institutions such as corporations, universities, hospitals and not-for-profit organizations looking for conservative investment vehicles.
The PFM Funds Government Series is managed by PFM Asset Management LLC, an SEC registered investment advisor. PFMAM had $42.0 billion in assets under management and provided investment consulting services for an additional $18.0 billion in fixed income securities as of December 31, 2010. PFM's clients are state and local governments, non-profit corporations, and similar institutional investors.
SOURCE The PFM Group