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Town board hears pitch for new municipal investment pool, EPIC Fund New York
Summary
Presenters for EPIC Fund New York told the Cheektowaga Town Board the pooled investment vehicle would offer safety, liquidity and competitive yields to New York local governments, with daily liquidity through 2 p.m. ET and fees capped at 17 basis points; board members pressed for fee detail and risk limits.
Leslie Murphy of PFM Asset Management, presenting for EPIC Fund New York, briefed the Cheektowaga Town Board on a proposed pooled investment option for New York local governments during the Jan. 13 meeting.
Murphy said the pool is structured to meet New York General Municipal Law requirements and adheres to GASB 79. The fund would invest in high‑credit instruments — U.S. Treasuries, repurchase…
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