STAR Ohio Surpasses $1 Billion in Investment Earnings for Ohio Government Entities in 2023
COLUMBUS – Ohio Treasurer Robert Sprague today announced that the State Treasury Asset Reserve of Ohio (STAR Ohio) has generated and returned more than $1 billion in investment income to participating entities during calendar year 2023 alone. The milestone was reached last Wednesday, November 22.
“Between rising costs and volatile markets, the last few years have thrown many challenges at local governments and other public entities,” said Treasurer Sprague. “We’re proud that STAR Ohio is achieving these strong returns for our communities and that the investment pool continues to be the place government partners turn to as they invest their money for the future.”
STAR Ohio allows Ohio governmental entities — from municipalities to school districts — to invest in high-grade, short-term securities, while offering safety, penalty-free liquidity and comparatively higher yields. The Treasurer’s office serves as the pool’s investment advisor and administrator, managing the investment of the fund’s assets. Since 1995, STAR Ohio has earned and maintained Standard & Poor’s highest rating of AAAm, further demonstrating the safety, security, and resilience of the fund.
When Treasurer Sprague took office in January 2019, STAR Ohio’s assets totaled $9.55 billion. In fewer than five years, that number grew to exceed $23 billion. Much of the investment pool’s growth in recent years was the result of participating entities regularly turning to it as a reliable investment option for COVID-19 relief funds.
As of October 31, there are 2,997 STAR Ohio accounts. The current daily yield is 5.58%.
For more information, visit the STAR Ohio webpage at https://tos.ohio.gov/star-ohio/.