Now more than ever state and local governments must be creative in the face of shrinking budgets and depleted revenues. Improving investment performance of liquid assets is one area that could help the bottom line.

The Ocean State Investment Pool (OSIP), created by the General Assembly in June 2011 is managed by Fidelity Investments. By creating economies of scale, OSIP is designed to provide a competitive cash investment option for government finance professionals.

The pool, created by Treasury under the guidance of the Rhode Island State Investment Commission, is a voluntary, safe, liquid, low-cost alternative investment vehicle that should help to improve and grow resources. The goals of the pool are to balance capital preservation with competitive returns, while providing trusted investment options.

The benefits of joining the OSIP Cash Portfolio, a money market portfolio include:

• Consistent and competitive yields at costs lower than other products in the market
• Flexible and convenient access to portfolio funds with withdrawal, purchase and account information available by phone or web
• Access to experienced, professional portfolio managers and credit research analysts
• Daily access for liquidity
• Daily accrual of dividends, regardless of the size or time of the investment

To learn more about OSIP should call 1-855-900-OSIP.

To learn more about Rhode Island’s finances, please visit the Investor Relations Portal.