The Florida Short Term Asset Reserve (“FLSTAR”) is a local government investment pool program specifically tailored to meet the investment objectives of Florida governmental entities - preservation of principal, daily liquidity and competitive yield. The program offers the FLSTAR Government Fund and FLSTAR Prime Fund.
Program Features
FLSTAR provides a variety of benefits to Florida local governments:
- Conservatively managed investment pool providing daily liquidity & competitive yields
- Created by local governments for local governments in full compliance with state statutes and rated AAAm by Standard & Poor’s
- Same day availability of funds with late day transactions deadline until 5:00 p.m. EST
- User-friendly internet transaction system using leading-edge technology
- Responsive service staff experienced in working with local governments
FLSTAR is conservatively managed in full compliance with Florida State Statutes
The FLSTAR Government and Prime Funds both funds both carry Standard and Poor’s highest principal stability fund rating - AAAm, which demonstrates their conservative nature and extremely strong capacity to maintain principle. The pools seek to maintain a constant dollar objective and fulfill all state requirements for local government investment pools.
FLSTAR provides local governments with the flexibility to meet their investment needs.
FLSTAR participants have daily access to their funds with no penalties. Participants can initiate wire transactions until 5:00 p.m. EST for same day settlement and ACH transactions until 5:00 p.m. EST for next date settlement. In addition, transactions can be preloaded for settlement using the FLSTAR internet systems up to 90 business days in advance 24 hours a day. There is no minimum balance required and no limit on the number of individual accounts or monthly transactions.
FLSTAR offers local governments the technology to carry out their duties with the greatest level of efficiency.
Participants have the option of accessing FLSTAR through our Internet Transaction System or by speaking with a Participant Services Representatives. Each of these methods provides quick and reliable access to transfer funds and access account and program information. Our leading edge computer-based product allows participants to access customized reports along with transparency to portfolio and other program information. FLSTAR participants have the option of speaking directly with personnel familiar with their account and their specific needs.
FLSTAR offers a wide variety of specialized products and services
FLSTAR does not merely provide an investment option – it provides an investment service. FLSTAR personnel fully understand that, in addition to basic investment services, state and local governments have the need for many other investment-related services. FLSTAR, through HilltopSecurities and JP Morgan, utilizes its extensive array of resources to offer a full complement of specialized products and services complimenting the fundamental investment pool product and adding unique value to the program for the ultimate benefit of the participants.
These features include:
- Direct Deposit Services
- Debt Service Payments Directly to Paying Agent
- Escrow & Trustee Services
- Investment Policy Services
- Bond Proceeds Management
- Arbitrage Rebate Services