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 400 Iowa public entities.
The IPAIT – Diversified portfolio has been assigned a principal
stability fund rating of ‘AAAm’ by S&P Global Ratings. 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
IPAIT continues to be 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.