Treasurer’s Office Designates STAR Ohio Service Providers
COLUMBUS – The Ohio Treasurer’s office announced today the designation of STAR Ohio service providers. Created in 1985, STAR Ohio offers local governments and school districts, regardless of their size, the ability to pool their investments enabling all participants equal buying power and the ability to receive the same rate of return on their investment on behalf of taxpayers.
STAR Ohio allows all Ohio government subdivisions, including counties, cities, school districts, townships and villages to invest in a highly-rated public investment pool. The Treasurer’s office acts as an advisor and administrator, managing STAR Ohio’s portfolio and working to maximize returns for government subdivisions.
Under the current administration, STAR Ohio has maintained Standard & Poor’s highest rating of AAAm, even amidst global economic uncertainty and downgrades of other local government investment pools nationwide.
After a thorough review of proposals from financial institutions interested in providing services for Ohio, the current STAR Ohio service providers will continue on behalf of Ohio’s taxpayers and local governments. The Co-Administrator remains Meeder Investment Management. The Financial Advisory Services providers will remain Meeder Investment Management and United American Capital Corporation. Ultimus Fund Solutions will continue to serve as Transfer Agent and Huntington Bank will continue as the Custodian. Part of the requirement for the Co-Administrator is that Meeder Investment Management will continue to provide servicing for STAR Plus.
STAR Plus, created in 2012, is an innovative investment option for Ohio’s local governments and schools, allowing investments to earn a competitive yield on cash deposits in a network of carefully selected FDIC-insured banks via a single, convenient account. STAR Plus offers Ohio’s local governments and schools an attractive yield with no market or credit risk.
As of October 24, 2016, Ohio’s local governments and schools have approximately $7.4 billion invested in STAR Ohio and STAR Plus.
For more information, please visit www.ohiotreasurer.gov.