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Public Trust Launches North Carolina CLASS

Public Trust Advisors Launches a New Local Government Investment Pool in North Carolina


Raleigh, North Carolina, April 18, 2023Public Trust Advisors, LLC (Public Trust) is pleased to announce the successful launch of the newly created local government investment pool (LGIP), North Carolina Cooperative Liquid Assets Securities System (North Carolina CLASS). The investment pool was created as a service for North Carolina units of local government to jointly invest their cash in a convenient, professionally managed fund to generate additional interest income.

North Carolina CLASS is an independent LGIP designed to meet the cash management and short-term investment needs of North Carolina local governments. The fund seeks to preserve capital, provide daily liquidity, and generate competitive returns for its participants. S&P Global has assigned its ‘AAAm‘ principal stability fund rating to North Carolina CLASS, the highest rating assigned to principal stability funds. 

The North Carolina CLASS Indenture of Trust and Interlocal Agreement was established in conjunction with the creation of the initial Board of Trustees represented by Chairperson Drew Holland of Town of Hope Hills, Deanna Rios of Lincoln County, Kimberly Ostrom of the City of New Bern, Abdul Baloch of the City of Rocky Mount, and Tiffany Murray of Gaston County. 

“North Carolina CLASS was launched in response to the growing demand of North Carolina local governments for a diversified liquidity option that is governed by a Board of their peers who operate the fund with the best interests of the participants in mind,” said Mr. Holland, North Carolina CLASS Board Chairman. “North Carolina CLASS provides a professionally managed portfolio and serves as a diversification tool for government investors in North Carolina looking for a transparent safety-first investment option that seeks to deliver a consistently competitive return.” 

Public Trust will serve as the investment adviser and administrator for North Carolina CLASS. Public Trust provides similar investment services for approximately 6,000 local government investment pool clients nationally with combined assets of nearly $65 billion as of December 31, 2022. Fifth Third Bank serves as the third-party custodian and McGuireWoods, LLP provides legal counsel to the program. 

“Our team at Public Trust is thrilled to partner with the North Carolina CLASS Board of Trustees; together, we seek to provide an exceptional investment experience to the government marketplace in North Carolina. Our goal is that North Carolina CLASS will provide government investors with a convenient method to diversify their short-term investments while earning a competitive yield,” said Matthew Starr, Managing Director at Public Trust. 

For additional information regarding the services provided by North Carolina CLASS, please contact North Carolina CLASS Client Services at (866) 200-3536 or visit

This press release is for informational purposes only and should not be considered a solicitation of investment advisory services. The information presented should not be used in making any investment decisions. This material is not a recommendation to buy, sell, implement, or change any securities or investment strategy, function, or process. Many factors affect performance including changes in market conditions and interest rates and in response to other economic, political, or financial developments. Investment involves risk including the possible loss of principal. No assurance can be given that the performance objectives of a given strategy will be achieved. North Carolina CLASS is not a bank. An investment in North Carolina CLASS is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although North Carolina CLASS seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. Please review the North Carolina CLASS Information Statement before investing. Past performance is no guarantee of future results. Any financial and/or investment decision may incur losses. North Carolina CLASS is rated ‘AAAm’ by S&P Global Ratings. A ‘AAAm’ rating by S&P Global Ratings is obtained after S&P evaluates a number of factors including credit quality, market price exposure, and management. For a full description on rating methodology, please visit Ratings are subject to change and do not remove credit risk.