By state law, the Treasurer invests state agency assets in highly-rated fixed income securities. Funds are placed in several different fixed-income pools; each with unique statutory investment parameters including risk and duration limits. Investment products may include the following:

• U.S. Treasury and Federal Agency Securities

• Repurchase Agreements

• Top-rated Commercial Paper

• Corporate Bonds and Notes

• Asset-backed Securities

• Mortgage-backed Pass-through Securities

• Collateralized Mortgage Obligations

• Interest-bearing Time Deposits in Arizona Banks

• Bankers’ Acceptances

The state agency pools include approximately 900 different securities with maturities ranging from overnight to 30 years.

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As of February 29, 2024