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municipalauthorities.org | 21 The PLGIT portfolio seeks to maintain a stable net asset value of $1.00 per share for each dollar invested by investors. As shares are purchased and redeemed by investors and as the market fluctuates on a daily basis, the portfolio managers monitor the market and buy and sell permitted investments from broker-dealers and government agencies to keep PLGIT portfolio’s assets in line with current investments. At the end of a specified period, after the Trust’s operational expenses are paid, all earnings from the PLGIT Portfolio are paid to investors as dividends. 3. Does this fit into our plan? Next to safety, yield is one of the most important elements when considering an investment. While yield is useful for purposes of budgeting, it is less reliable for forecasting and assessing the risk and return characteristics of the investment. Local government officials should judge an investment, not solely based on the highest yield, but rather on whether the investment meets a local government’s long- range plans in terms of liquidity. There may be fees associated with a particular product that negate the advantage of the higher interest rate. There are also implicit costs in adding to or changing investments, including additional time for new account setup, moving funds, and reconcilement of new accounts. One consideration for municipalities is to create — and stick to — a written investment policy statement describing the specifics of its financial goals. This statement serves as a roadmap for a host of long- and short-term variables that every local government will experience, as well as address risk, needs and expectations. These represent just a few of PLGIT’s suggestions for assessing whether an investment or financial produce is appropriate for your local government or not. If you have questions, contact your PLGIT representative, read more about these topics at www.plgit.com , or call PLGIT toll-free at (800) 572-1472. S Matt Conlin is a Senior Marketing Representative working with PLGIT investors in Central Pennsylvania. He is a Senior Managing Consultant at PFM Asset Management LLC, PLGIT’s Investment Adviser. Important Disclosure Information This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security. Investors should consider the investment objectives, risks, charges and expenses before investing in any of the Trust’s portfolios. This and other information about the Trust’s portfolios is available in the current Information Statement, which should be read carefully before investing. A copy of the Information Statement may be obtained by calling 1-800-572-1472 or is available on the Trust’s website at www. plgit.com. While the PLGIT and PLGIT/ PRIME portfolios seek to maintain a stable net asset value of $1.00 per share and the PLGIT/TERM portfolio seeks to achieve a net asset value of $1.00 per share at its stated maturity, it is possible to lose money investing in the Trust. An investment in the Trust is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Trust’s portfolios are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) ( www.finra.org ) and Securities Investor Protection Corporation (SIPC) (www.sipc. org). PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC.