Organized in 2010, Florida Public Assets for Liquidity Management ("FL PALM" or the "Trust") offers a short-term investment program for Florida Public agency investors.  The Trust offers a fully liquid, variable rate investment option known as the FL PALM Portfolio, and the ability for participants to invest in shares of fixed-rate, fixed-term investments through the FL PALM Term Portfolio. 


FL PALM is a common law trust organized under the laws of The State of Florida and is designed to meet the cash management and short-term investment needs of school districts, political subdivisions of the State or instrumentalities of political subdivisions of the State. The Trust's investment objective is to provide investors with the highest possible investment yield, while maintaining liquidity and preserving capital.  FL PALM is directed by a Board of Trustees, which is made up of experienced school board members, superintendents, public agency officials, and an Advisory Committee of senior finance officers from member Districts and public agencies.  The Florida School Boards Association (FSBA) and the Florida Association of District School Superintendents (FADSS) sponsor the Fund.  


 Fund Fact Sheet   Performance and fund diversification 
information on the pool as of June 30, 2024
 Monthly Portfolio SummaryPool holdings and additional characteristics as of April 30, 2024
 Information Statement A detailed description of FL PALM


 FL PALM Portfolio Highlights 

  • A short-term portfolio rated AAAm by Standard & Poor's* 
  • Daily liquidity 
  • 2:00 p.m., Eastern Time, same-day wire transaction deadline 
  • 4:00 p.m. Eastern Time, next-day ACH transaction deadline 
  • Online transaction and reporting access available all the time 
  • $10,000 minimum investment 
  • Availability to establish multiple accounts and multiple standing wire and ACH instructions 
  • Unlimited investments and redemptions 
  • Designed for the investment of all typical school and government fund categories: 
    • General and operating funds 
    • Proceeds from debt issuance 
    • Capital reserves 
    • Debt service reserve funds  
  • Arbitrage rebate analysis and calculation offered at special pricing for FL PALM Participants/Investors who have proceeds from debt issues invested with the Fund. 

FL PALM Term Portfolio Highlights  

  • A fixed-rate fixed-term portfolio rated AAAf** by Fitch
  • Investments offered to maturity dates up to one year  
  • Principal investment and dividend paid at maturity 
  • A variety of investment dates available to meet your specific cash flow needs 
  • 12:00 p.m. Eastern Time, same-day investment deadline
  • Online transaction and reporting access available all the time  
  • $1,000,000 minimum investment   
  • Unlimited investments and redemptions through the FL PALM Portfolio  
  • Designed for the investment of all typical school and government fund categories:  
    • General and operating funds  
    • Proceeds from debt issuance  
    • Capital reserves  
    • Debt service reserve funds  

*Standard & Poor’s fund ratings are based on analysis of credit quality, market price exposure and management. According to Standard & Poor’s rating criteria, the AAAm rating signifies excellent safety of invested principal and a superior capacity to maintain a $1.00 per share net asset value. However, it should be understood that the rating is not a “market” rating nor a recommendation to buy, hold or sell the securities. For a full description on rating methodology, visit Standard & Poor's website: ( Standard & Poor's).  

**The AAAf rating reflects Fitch Ratings’ (“Fitch”) review of the Term program’s investment and credit guidelines, the portfolio’s credit quality and diversification, as well as the capabilities of PFM Asset Management LLC as investment adviser. It indicates the highest underlying credit quality (or lowest vulnerability to default). However, it should be understood that this rating is a not “market” rating nor a recommendation to buy, hold or sell the securities. For a full description on rating methodology visit


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This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security. Investors should consider Florida Public Assets for Liquidity Management (the "Fund" or "FL PALM") investment objectives, risks, charges and expenses before investing. This and other information about the Fund is available in the Fund's Information Statement, which should be read carefully before investing. Copies of the Fund's Information Statement may be obtained by calling 1-877-495-8246 or are available on the Fund's website at  While the FL PALM Portfolio seeks to maintain a stable net asset value of $1.00 per share and the FL PALM Term Portfolio seeks to achieve a net asset value of $1.00 per share at its stated maturity, it is possible to lose money investing in the Fund. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Fund are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) ( and Securities Investor Protection Corporation (SIPC) ( PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC. 

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