Colorado Statewide Investment Program

What Colorado Statewide Investment Program does

Colorado Statewide Investment Program (CSIP) is a state-authorized local government investment pool organized as a common law trust under 24-75-701 et. seq. of the Colorado Revised Statutes. The program provides Colorado local governments — counties, cities, towns, school districts, and special districts — with pooled investment vehicles for managing general funds, operating funds, bond proceeds, debt service funds, and reserves. CSIP offers two share classes: the CSIP Liquid Portfolio, a daily-liquidity variable-rate option rated AAAm (S&P Global) and AAAmmf (Fitch) with no account minimum and same-day wire/next-day ACH processing, and the CSIP Term Portfolio, a fixed-rate fixed-term option rated AAAf (Fitch) with 60-day to one-year maturities and a $500,000 minimum initial investment. The program is administered by PFM Asset Management, a division of U.S. Bancorp Asset Management, with U.S. Bank N.A. acting as custodian and U.S. Bancorp Investments, Inc. as distributor.

CSIP's core technology is the Connect online portal, which provides 24/7 transactional and reporting access, including online subaccount opening (a recently added self-service feature), ACH and wire instruction management, permissions management, and account administration. A specialized arbitrage rebate compliance service, operated by PFMAM, supports participants managing tax-exempt bond proceeds, including spending exception compliance reports, yield restriction notifications, and rebate calculation reports. Both portfolios target a stable $1.00 NAV, and the Liquid Portfolio's current seven-day yield is 3.74% as of July 9, 2026.

CSIP generates revenue through management fees on pooled AUM (no transaction or account maintenance fees) and is governed by a Board of Trustees composed of finance directors and CFOs from Colorado municipalities and school districts. Distribution is direct via PFMAM relationship managers, the Connect self-service portal, and a Client Services phone desk, with no intermediary channel. Participation requires a governing body Resolution or Ordinance, embedding CSIP into the formal procurement process of each public entity. The program is not a for-profit corporation but a quasi-governmental investment vehicle operating under the administrative umbrella of U.S. Bancorp through its PFM Asset Management division.

Name

Colorado Statewide Investment Program

Legal name

Colorado Statewide Investment Program

Website

https://csipinvest.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

CSIP is a Colorado state-authorized local government investment pool offering Colorado counties, cities, school districts, and special districts a daily-liquidity variable-rate portfolio and a fixed-term portfolio, managed by PFM Asset Management and rated AAAm/AAAmmf/AAAf.

Ownership category

akta.pro rank

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Investment Management Administration: CSIP generates revenue through management fees charged to participants for investment pool administration services. The program is managed by PFM Asset Management, a division of U.S. Bancorp Asset Management Inc., which serves as investment adviser and administrator.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

CSIP is a Colorado state-authorized local government investment pool (LGIP) offering two investment products to Colorado local governments: the CSIP Liquid Portfolio (a daily-liquidity, variable-rate fund) and the CSIP Term Portfolio (a fixed-rate, fixed-term fund with 60-day to one-year maturities). The program is managed by PFM Asset Management, a division of U.S. Bancorp Asset Management, Inc., and provides related services including arbitrage rebate compliance, online transaction and reporting access, and educational resources.

Product overview

CSIP is a local government investment pool (LGIP) administered by PFM Asset Management that offers two distinct investment products: the CSIP Liquid Portfolio (a variable-rate, daily-liquidity option) and the CSIP Term Portfolio (a fixed-rate, fixed-term option with 60-day to one-year maturities). Both portfolios serve Colorado local government entities for managing general funds, operating funds, bond proceeds, and reserves. The Liquid Portfolio provides unlimited redemptions and real-time online access, while the Term Portfolio offers higher yields with guaranteed principal and interest at maturity, automatically sweeping proceeds back to the Liquid Portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• CSIP Liquid Portfolio
• CSIP Term Portfolio

Quantifiable outcome

• Maintains stable NAV of $1.00 per share
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• PFM Asset Management (U.S. Bancorp Asset Management Inc.)coreStrategic or Co-development PartnerPFM Asset Management is a division of U.S. Bancorp Asset Management Inc. and serves as the program administrator and investment adviser for CSIP. With more than 40 years of experience managing local government investment pools, PFMAM provides daily management services to CSIP investors.
• U.S. Bank National AssociationcoreOthersU.S. Bank National Association serves as Custodian and Depository for CSIP, holding and safeguarding program assets.
• U.S. Bancorp Investments, Inc.coreChannel Partner/ Reseller/ DistributorU.S. Bancorp Investments, Inc., member FINRA and SIPC, distributes shares of CSIP. It is a subsidiary of U.S. Bancorp and affiliate of U.S. Bank N.A.
• Ernst & YoungminorImplementation/ SI/ Consulting PartnerErnst & Young serves as the independent auditor for CSIP, providing annual audit services.
• Husch Blackwell LLPminorImplementation/ SI/ Consulting PartnerHusch Blackwell LLP provides legal counsel services to CSIP.
• S&P Global RatingsminorOthersProvides credit rating assessment for CSIP Liquid Portfolio, awarding AAAm rating based on evaluation of credit quality, market price, exposure, and management.
• Fitch RatingsminorOthersProvides credit ratings for both CSIP Liquid Portfolio (AAAmmf) and CSIP Term Portfolio (AAAf), indicating strongest capacity to achieve investment objectives and highest underlying credit quality.

Scale indicators3 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• COLOTRUST: Colorado's other major local government investment pool, offering pooled investment options to Colorado municipalities, school districts, and special districts. The most directly comparable peer to CSIP because it serves the same investor base in the same geography with analogous statutory authorization under Colorado law.
• LOGIC: Local Government Investment Cooperative serving Oregon and Idaho public entities. Comparable as a state-cooperative LGIP offering daily liquidity and term investment options to local government treasurers under similar cooperative governance.
• MMDT: Massachusetts Municipal Depository Trust, a commingled cash management pool for Massachusetts municipalities. Comparable as a state-specific pooled investment vehicle for local government cash management with a similar AAA-quality focus.
• Florida PRIME: Florida PRIME is an LGIP offered by the State Board of Administration of Florida. Comparable as a state-authorized investment pool providing short-term liquidity to Florida public entities with AAAm-equivalent credit quality.
• TexPool / TexSTAR: Texas local government investment pools operated through the Texas Cooperative Liquid Assets Securities System. Comparable as a state-specific LGIP offering daily liquidity and term investment options to Texas public entities under analogous statutory frameworks.
• Pennsylvania PLGIT: Pennsylvania Local Government Investment Trust, a cooperative LGIP serving Pennsylvania municipalities, school districts, and authorities. Comparable as a state-authorized pooled investment vehicle for local government cash.
• California LAIF: California's Local Agency Investment Fund administered by the State Treasurer. Comparable to CSIP as a state-authorized LGIP offering pooled investment accounts to local agencies with similar statutory structure and credit-quality objectives.
• NYCLASS: New York Cooperative Liquid Assets Securities System, a New York LGIP providing pooled investment services to New York municipalities and public entities. Directly comparable as a state-level cooperative LGIP offering daily liquidity.

Broad incumbents

• BlackRock Liquidity Funds: BlackRock's institutional money market funds (government, treasury, and prime) compete with LGIPs for short-term public-sector cash. A broad incumbent in the same short-term liquidity category, though structured as mutual funds rather than a statutorily authorized pool.
• Fidelity Institutional Money Market: Fidelity's institutional money market offerings compete with LGIPs for government and public-sector operating cash. A broad incumbent in the money market category with similar liquidity and credit-quality profiles to CSIP's Liquid Portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Colorado Statewide Investment Program