The South Dakota Public Funds Investment Trust (FIT) is an investment program for public entities sponsored by the South Dakota Municipal League, South Dakota Counties, and Associated School Boards of South Dakota.
FIT was developed in response to concerns expressed by local government regarding the unavailability of investment alternatives. It made sense to design a program to jointly invest our funds in a professionally managed portfolio that meet the liquidity, safety and interest income requirements of public entities in South Dakota.
FIT invests in AAA rated U.S. Government Treasury and Agency Securities, which are backed by the full faith and credit of the U.S. Government. Because Participants are pooling their funds, FIT's money managers can buy higher yielding securities in larger denominations, thereby generating higher returns. Also, Participants can move funds in and out of their accounts on a daily basis without penalty.
Assuring adequate funding for public projects and programs that effect the people of our state are issues we grapple with every day. FIT is a valuable resource for managing the complex financing of government. We encourage our members to make use of FIT's services.
As you become acquainted with FIT, please feel free to come to us with your comments, questions or suggestions.
Below you will find links for the FIT Information Statement and Declaration of Trust.
