Glossary of Municipal Securities Terms

LOCAL GOVERNMENT INVESTMENT POOL (LGIP)

An investment pool established by a state or local governmental entity or instrumentality that serves as a vehicle for investing public funds of participating governmental units. Participants purchase shares or units in the pool (often formed as a trust) and assets are invested in a manner consistent with the portfolio’s stated investment objectives. The investment advisor invests in a manner consistent with the cash management needs of the governmental unit participants. See: MUNICIPAL FUND SECURITY.

Search the Glossary

 

Browse Terms by Letter