Texas CLASS Portfolio Characteristics

The following information is provided in accordance with Texas State Statute 2256.0016.

As of September 30, 2020

Participant Breakdown
by Balance

Participant Breakdown
by Entity Type

Texas CLASS
Portfolio Breakdown

Texas CLASS Government
Portfolio Breakdown

Weighted Average Maturity
(In Days)

Texas CLASS Prior Month Comparison

Month
End
Average
Yield
**
Month Ending
Assets
Share
Balance
Market
Value
Amortized
Cost
NAV WAM
(Reset)
*** 
WAM
(Final)***
Jul-20 0.45% $14,173,842,919 14,168,443,498 $14,309,427,138 $14,304,027,717 1.00 52 71
Aug-20 0.32% $13,456,298,032 13,452,899,536 $13,484,494,935 $13,481,096,439 1.00 54 84
Sep-20 0.25% $13,080,178,203 13,077,882,259 $13,356,612,470 $13,354,316,526 1.00 56 84

**Average monthly yield   ***As of the end of the last day of the month

Texas CLASS Government Prior Month Comparison

Month
End
Average
Yield
**
Month Ending
Assets
Share
Balance
Market
Value
Amortized
Cost
NAV WAM
(Reset)
***
WAM
(Final)***
Jul-20 0.26% $1,180,919,840 1,180,709,728 $1,221,732,758 $1,221,522,647 1.00 27 62
Aug-20 0.19% $1,136,069,011 1,135,955,978 $1,146,913,369 $1,146,800,336 1.00 22 71
Sep-20 0.14% $1,187,520,227 1,187,327,316 $1,187,654,702 $1,187,461,791 1.00 22 89

**Average monthly yield   ***As of the end of the last day of the month

 

2019-2020 Texas CLASS Average Monthly Yields


                            Texas CLASS

Texas CLASS Government

October 2019 2.0878% | October 2019 1.9278%
November 2019 1.9380% | November 2019 1.6971%
December 2019 1.8808% | December  2019 1.6419%
January 2020 1.8582% | January 2020 1.6073%
February 2020 1.7710% | February 2020 1.6068%
March 2020 1.4668% | March  2020 1.0409%
April 2020 1.0995% | April  2020 0.5259%
May  2020 0.7572% | May  2020 0.3716%
June  2020 0.5899% | June  2020 0.3122%
July  2020 0.4547% | July  2020 0.2567%
August  2020 0.3186% | August  2020 0.1896%
September  2020 0.2510% | September  2020 0.1424%

 

Fund Highlights as of September 30, 2020 (Unaudited)

For the month of September 2020, the Program Administrator accrued fees of $1,020,072.34 and had average shares outstanding of 13,120,528,663.20 for Texas CLASS. For Texas CLASS Government, the Program Administrator accrued fees of $86,448.41 and had average shares outstanding of 1,171,922,837.70. The fees for both Texas CLASS and Texas CLASS Government are accrued on a daily basis by multiplying the investment property value by the applicable fee rate, and divided by 365 or 366 days in the event of a leap year. The investment property value shall be based on the current day’s shares outstanding. For weekend days and holidays, the shares outstanding for the previous business day will be utilized for the calculation of fees. The applicable fee rate is located in Exhibit F of the Eighth Amended and Restated Trust Agreement. The Program Administrator reserves the right to abate fees listed in the Eighth Amended and Restated Trust Agreement. The monthly fee is the sum of all daily fee accruals for the month of August. The fees are paid monthly upon notification to the custodian bank. As of September 30, 2020 the fee for Texas CLASS was 10 basis points and the fee for Texas CLASS Government was 9 basis points.

  • Both funds are rated ‘AAAm’ by Standard and Poor’s Global Ratings.
  • Net Asset Value for both funds from September 1 to  September 30, 2020 is equal to $1.00.
  • The final maturity dates of all securities were less than one year.
  • The custodian bank for Texas CLASS is Wells Fargo Bank.
  • Total number of Participants is 817.
  • There are currently no investments that have a stated maturity greater than one year.
  • The portfolio managers for Texas CLASS is Neil Waud, CFA and Randy Palomba, CFA.
  • All sources of payment are the underlying assets of the local government investment pool at market value.
  • The Eighth Amended and Restated Trust Agreement was adopted by the Board of Trustees on April 8, 2019. You can access your copy of the Eighth Amended and Restated Trust Agreement by visiting our website at www.texasclass.com.

 

To view the current members of the Texas CLASS Board of Trustees and Advisory Board, please click here.

Data unaudited. Charts may not equal 100% due to rounding. Performance results for both Texas CLASS and Texas CLASS Government are shown net of all fees and expenses and reflect the reinvestment of dividends and other earnings. 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. All comments and discussion presented are purely based on opinion and assumptions, not fact. These assumptions may or may not be correct based on foreseen and unforeseen events. 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. Any financial and/or investment decision should be made only after considerable research, consideration, and involvement with an experienced professional engaged for the specific purpose. Past performance is not an indication of future performance. Any financial and/or investment decision may incur losses. 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. Ratings are subject to change and do not remove credit risk.