Connecticut State Treasury Investment Fund # 1 in USA
Monday State Treasurer Denise Nappier issued a press release touting the performance of the State Treasury Investment Fund (STIF). According to TRACS Financial Research, STIF has ranked as the #1 government investment pool in 9 of the past 11 months, out of the 80 funds it tracks. The other two months, Connecticut came in as the #2 fund. The State Treasury, state agencies and municipalities are some of the entities that invest liquid cash investments into the investment fund. This is good news for Connecticut towns and municipalities who seek to increase revenue diversification from solely relying on property taxes.
Since 1999, the total number of state, local and regional agencies and authorities participating has grown from 241 to its current 320. Of Connecticut's 169 towns, 136 invest with STIF. More details can be found in the actual press release.
The Press Release 10/16/2006