About PFM Funds
About PFM Funds
Descriptive information below about PFM Funds Prior to Fund Reorganization on December 20, 2021, for reference purposes:
PFM Funds (the "Fund") is a money market mutual fund designed to meet the short-term investment needs of institutional investors. The portfolio provides:
• Daily liquidity
• Competitive money market returns
• Unlimited number of deposits and withdrawals
• Transactions by wire, ACH and check
• Sub-accounting to track multiple funds/accounts
• Arbitrage rebate compliance services (for proceeds of tax-exempt or other issues subject to rebate)
The portfolio maintains a dollar-weighted average portfolio maturity of 60 days or less and is managed to maintain a constant $1.00 price per share or net asset value (NAV).
Government Select Series* invests exclusively in U.S. Treasury and Federal Agency obligations. The following links provide information on the Fund’s Government Select Series (formerly known as Prime Series prior to its conversion to a government money market fund on October 3, 2016). Government Select Series is rated AAAm by Standard & Poor's and AAAmmf by Fitch Ratings ("Fitch")**. To see the Government Select Series' Standard & Poor's report, click here. To view a copy of the Press Release regarding the Fitch rating click here.
The Government Select series offers the Institutional Class.
**Rated AAAm by Standard & Poor's ("S&P") and AAAmmf by Fitch Ratings ("Fitch"). S&P's fund ratings are based on analysis of credit quality, market price exposure, and management. According to S&P's rating criteria, the AAAm rating signifies excellent safety of investment principal and a superior capacity to maintain a $1.00 per share net asset value. The Fitch AAAmmf rating reflects Fitch's review of the fund's overall credit quality and diversification and low exposure to interest rate and spread risks as well as the capabilities and resources of PFM Asset Management LLC as investment adviser. According to Fitch's rating criteria, the AAAmmf rating signifies an extremely strong capacity to achieve the fund's investment objective of preserving principal and providing shareholder liquidity through limiting credit, market, and liquidity risk. However, it should be understood that these ratings are not "market" ratings nor a recommendation to buy, hold or sell the securities. For a full description on rating methodology, visit Standard & Poor's and www.fitchratings.com.
Effective December 20, 2021, PFM Funds’ Government Select Series will merge into the First American Funds Government Obligations Fund, Class Z. For more information about First American Funds Government Obligations Fund, please visit www.FirstAmericanFunds.com. Historical information on the PFM Funds’ Government Select Series will remain on this site until June 30, 2022.
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