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WyomingClass rep pitches AAA-rated pooled account with daily liquidity to town officials
Summary
A WyomingClass representative briefed the council on a pooled investment product that the presenter described as AAA-rated, offering day-of liquidity, a roughly 4.4% yield and peer-to-peer transfers between linked municipal accounts.
A WyomingClass representative described a pooled investment vehicle for local governments that the presenter said prioritizes safety and liquidity while offering competitive yield.
The representative said WyomingClass launched a pooled product in 2020 that buys short-term investments and maintains a reserve to provide operational liquidity. "You can pull money in today. We'll take it out tomorrow," the presenter said, stressing the product is designed for day-to-day cash management.
On yields and scale, the presenter said WyomingClass was paying about 4.4% at the time of the presentation and that the broader merged organization manages substantial assets for local governments. The representative said the program recently "crossed $1,000,000,000 in long term tax rate assets" for WyomingClass and said the larger combined organization manages about $195 billion for roughly 11,000 local governments, noting those figures as firm-reported milestones.
The presenter described governance and fees: a board of trustees authorizes fees and the management team receives an allocation the representative characterized as 20 basis points; the presenter also said there are no per-transaction limits and no minimums for participation. The pool is described as triple-rated and subject to SEC oversight with portfolio rules that limit average maturity to about 90 days and permit individual holdings up to approximately 270 days to preserve liquidity.
Operational features included peer-to-peer transactions that let linked WyomingClass accounts move funds directly; the presenter gave an example of routing a transfer to a local account (transcript reference named a local account). The presenter also named legal counsel Pat Hank and said the firm completed a merger that expanded its geographic footprint and scale.
Council members asked about fee structure, governance and how quickly accounts can be opened; the presenter said accounts can be opened by electronic signature and active within 24 hours. The presenter encouraged staff to reach out for onboarding assistance and offered a follow-up to share account-opening instructions.
Next steps: council members and staff may follow up with the presenter to evaluate whether to open an account; no decision or vote occurred during the meeting.
