Our History

The Iowa Public Agency Investment Trust, or IPAIT, was created pursuant to Iowa Code Chapter 28E in 1987 to enable eligible Iowa public agencies to conveniently and effectively invest their available operating and reserve funds. IPAIT is governed by a nine person Board of Trustees made up of eligible Participants of the Trust. Today, IPAIT serves over 500 Iowa public entities.

The IPAIT Diversified Portfolio has been assigned a principal stability Fund rating of ‘AAAm’ by S&P Global Ratings (as of September 26, 2024). A fund rated ‘AAAm’ demonstrates extremely strong capacity to maintain principal stability and to limit exposure to principal losses due to credit risk. ‘AAAm’ is the highest principal stability fund rating assigned by S&P Global Ratings. This is accomplished through conservative investment practices and strict internal controls.

IPAIT remains focused upon its investment objectives in order of priority, which are safety of invested principal, followed by maintenance of adequate liquidity, followed by evaluation of available yield while seeking to maintain a net asset value of $1.00 per share. Within these objectives, the Diversified Portfolio strives to provide Participants with the best available rates of return for legally authorized investments.

Benefits for You

IPAIT Participants utilize the program’s many features, including a proprietary, interactive Participant accounting system and the ability to pay vendors directly from your IPAIT accounts through Vendor Pay. Participants can also invest/withdraw funds on a daily basis without money movement charges from IPAIT, check balances or view transaction history, and create individual sub-accounts that post interest separately.

IPAIT strives to provide first class customer service through experienced administrators and marketing staff that can personally assist you with any IPAIT related inquiry. Please contact us today to learn more about the additional benefits IPAIT has to offer!