STATE AGENCY ASSET ALLOCATION AND STRATEGY

UPDATED: May 31, 2019
State Agency Allocation
 
By state law, the Treasurer invests state agency assets exclusively in highly-rated fixed income securities. No assets are invested in equities (stocks). Funds are placed in 10 different fixed-income pools; each with unique statutory investment parameters including risk and duration limits. Investment products may include the following:

  • U.S. Treasury and Federal Agency Securities
  • Repurchase Agreements
  • Top-rated Commercial Paper
  • Corporate Bonds and Notes
  • Asset-backed Securities
  • Mortgage-backed Pass-through Securities
  • Collateralized Mortgage Obligations
  • Interest-bearing Time Deposits in Arizona Banks
  • Bankers’ Acceptances

The state agency pools include approximately 900 different securities with maturities ranging from overnight to 30 years.