Fitch writes "Local Gov't Pools' Ratings Weather Volatile Environment". The release says, "Ratings assigned to local government investment pools (LGIPs) and other public funds by Fitch Ratings remain unchanged, despite the recent period of heightened market volatility. Fitch is issuing this sector comment in response to questions from various LGIP participants. Fitch-rated LGIPs and public funds invest in high quality securities and, on average, allocate over 72.4% of their assets to U.S. government and agency securities. Liquidity parameters remained consistent with the policies governing redemption activities of these fund's participants.... As of June 30, 2011, Fitch rated 11 LGIPs and other funds managed exclusively for the benefits of public entities. Combined assets under management of these funds were approximately $16.6 billion." Rated LGIPs include: City of Oakland Operating Fund - 'AAA/V1'; Community Redevelopment Agency of Los Angeles (CRA/LA), Investment Portfolio - 'AAA/V1'; Marin County Investment Pool - 'AAA/V1'; Riverside County Treasurer's Pooled Investment Fund - 'AAA/V1'; San Bernardino County Investment Pool - 'AAA/V1'; San Luis Obispo County Treasury Investment Pool - 'AAA/V1'; City of Colorado Springs, Colorado Investment Portfolio - 'AAA/V1'; Colorado Local Government Liquid Asset Trust (COLOTRUST Plus+) - 'AAA/V1'; Florida Municipal Investment Trust 1-3 Year High Quality Bond Fund - 'AAA/V2'; Florida Municipal Investment Trust Broad Market High Quality Bond Fund - 'AA/V4'; Florida Municipal Investment Trust Intermediate High Quality Bond Fund - 'AAA/V3'."
