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Core Values – A Look at CSAFE’s Colorado Core Pool

Adept managers of public funds know the importance of asset allocation well. For operating funds, liquidity is key, and the main reason CSAFE offers the CSAFE Cash product. However, it is common for managers to also invest their local governments’ strategic reserves and non-operating funds in longer-duration LGIPs.

A November 2025 study conducted by the Public Funds Investment Institute found that up to 37% of funds invested with LGIPs across the nation are invested in “other stable value” funds.* To bring a similar option to Colorado, CSAFE has been offering local governments access to Colorado Core since 2018.

The Colorado Core pool is unique in that it seeks to maintain a strict $2.00 transactional share price and next-day liquidity, while also offering the benefits of investing slightly further out on the yield curve. In a normal sloping yield curve environment, this allows public funds managers the ability to capture additional yield with funds that are not immediately needed, thus having a greater impact on their local government’s fiscal health.

Key elements of CSAFE’s Colorado Core Pool:

  • Diversification further out on the yield curve
    • Weighted Average Maturity limit: 90 days
    • Weighted Average Life limit: 180 days
  • Next-day liquidity supported by CSAFE Cash as a sweep vehicle
    • This reduces costs to participants in the form of a “sweep vehicle” that has a lower expense ratio than 2a-7 money market funds
  • Access to a conservatively managed investment grade portfolio
    • Due to a slightly longer duration profile, these securities have the potential to outperform those in CSAFE Cash. Current WAM and WAL statistics are available at csafe.org/yields.

For public funds managers looking to safeguard their local government’s cash while still optimizing investment earnings, please contact us today.

*Margolis, M. (2025). Survey of Local Government investment Pools [PDF], https://pubfunds.org/wp-content/uploads/2025/11/Survey-of-LGIPs-2024-v4-11072025-final.pdf
Important Disclosures
This material is provided for informational purposes only and should not be used in making any investment decisions. It is not an offer, recommendation, or solicitation to buy, sell, implement, or change any securities or investment strategy, function, or process. Any information regarding specific investment products is subject to change without notice. Please review the CSAFE Information Statement before investing.
Neither Ridgeline Public Advisors, LLC nor the Colorado Surplus Asset Fund Trust is a bank, and investments are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although CSAFE Cash seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. Investment involves risk, including the possible loss of principal. Past performance is no guarantee of future results, and no assurance can be given that the performance objectives of a given strategy will be achieved. Any financial and/or investment decision may incur losses.
Any financial and/or investment decision should be made only after considerable research, consideration, and involvement with an experienced professional engaged for the specific purpose.
**Fitch Ratings’ money market fund ratings are an opinion as to the capacity of a money market fund to preserve principal and provide shareholder liquidity. According to Fitch’s rating criteria, the AAAmmf and AAAf ratings signify an extremely strong capacity to achieve the fund’s investment objective of preserving principal and providing shareholder liquidity through limiting credit, market, and liquidity risk. To meet these ratings, funds must maintain holdings of daily and weekly liquid assets consistent with Fitch’s rating criteria, along with demonstrated capabilities and resources of the investment adviser. It should be understood that these ratings are not “market” ratings nor a recommendation to buy, hold, or sell securities. Ratings are subject to change and do not remove market risk or guarantee the elimination of principal loss. For more information, visit www.fitchratings.com.