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Treasurer Sprague Announces STAR Ohio Investment Fund Hits All-Time HighOhio Treasurer Robert Sprague has announced that the State Treasury Asset Reserve (STAR) of Ohio hit an all-time high yesterday with $13,851,926,775.83 in assets. This is the second time that the previous record has been exceeded this fiscal year, when the asset reserve peaked in July with assets of $13,820,524,503.53.
“In every sense, STAR Ohio is paying off for Ohio’s local governments,” said Treasurer Sprague. “This record high illustrates the trust our local governments have in this long-standing and proven investment fund. I’m proud of the success we’ve seen over the last several months, and I hope more entities will consider joining STAR Ohio.”
STAR Ohio is an investment fund that allows government subdivisions—from municipalities to school districts—to invest in high-grade, short-term securities, while offering safety, penalty-free liquidity, and comparatively higher yields.
Nearly 1,700 entities currently participate in the program and there are almost 2,800 accounts across the state. In fiscal year 2019, the program distributed more than $260 million in interest earnings to Ohio government subdivisions.
In the 25 years that STAR Ohio has received a rating from Standard & Poor’s, it has maintained the highest possible investment rating of AAAm. The economies of scale created by pooling funds of Ohio’s governmental subdivisions provide participants with greater earnings potential and increased efficiencies. All eligible entities, regardless of their investment size, are invited to take advantage of this exceptional investment option.
More information on the STAR Ohio program can be found online here.