government

Fidelity picked for R.I.investment pool

COURTESY TREASURY OFFICE
‘IN these challenging times, the Ocean State Investment Pool will help local government leaders across the state invest their cash and other liquid assets,’ said General Treasurer Gina M. Raimondo, who chairs the State Investment Commission.
Posted 11/23/11

PROVIDENCE – Fidelity Investments was selected Wednesday as the vendor of the Ocean State Investment Pool, an initiative passed in the General Assembly in June to help state and municipalities improve their liquid asset investments.

Fidelity was chosen by the State Investment Commission in a 7 to 0 vote with one abstention.

“In these challenging times, the Ocean State Investment Pool will help local government leaders across the state invest their cash and other liquid assets,” said General Treasurer Gina M. Raimondo, who chairs the State Investment Commission.

“This program will allow Treasury to extend its expertise to municipalities and improve investment returns by creating economies of scale,” she said.

The OSIP is slated to launch in the first quarter of 2012.

The Treasury estimates that there are more than $500 million in funds that could be appropriately invested in the voluntary OSIP. It also estimated that 44 of 50 states operate in some form of a local government investment pool.

Calendar
PBN Hosted
Events

Estate and Corporate Income Taxes are changing next year, and business owners and executives should know the details. The PBN Summit on November 6th will provide those details and more - including how much Obamacare's Employer Mandate could cost.
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement