A Statewide Investment Pool For Local Governments

NY MuniTrust Public Officials Balance Sheets
NY MuniTrust Public Officials All of New York State
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What is
NY MuniTrust®?

NY MuniTrust is a short-term, highly liquid investment Pool designed specifically for the public sector. It is designed to seek as high a level of current income that is consistent with the preservation of capital and the maintenance of daily liquidity for any municipal corporation consisting of counties, cities, towns, villages, school districts, special districts, and boards of cooperative educational services.

NY MuniTrust offers two separate investment funds: the Excelsior Fund is for NY Counties only. The Empire Fund is open to all municipal corporations.

BNY and Dreyfus, both headquartered in New York, support NY MuniTrust by providing custody, fund accounting, record keeping, client servicing, distribution, and investment management for the investment pool. NY MuniTrust is a corporate partner of the State’s leading advocates for public sector entities: the New York State Association of Counties and the National Association of Counties.

▬ Investment Options ▬

1 Benefit. 2 Unique Funds.

Excelsior Fund

1 Day Yield: 4.68%
As of 12/12/24

Empire Fund

1 Day Yield: 4.46%
As of 12/12/24

A ‘AAAm’ rating by S&P Global Ratings is obtained after S&P evaluates a number of factors, including portfolio credit quality, diversification, maturity, and liquidity of the fund as well as the strengths and weaknesses of the fund’s management including credit research, risk management and internal controls to limit exposure to loss. Ratings are subject to change and do not remove market risk.

▬ Meet our experts ▬

Relationship Team

Stephen-Acquario
Stephen Acquario
Executive Director,
NY MuniTrust
Antonio Ditri
VP, Business Development Officer
Dreyfus

FINRA Licences:
Series 7, 53 and 63

Kevin Brown, CIMA®
Director, Business Development Officer
Dreyfus

FINRA Licences:
Series 7, 24, 53, and 63

Michelle Lens
VP, Business Development Officer
Dreyfus

FINRA Licences:
Series 7, 52, and 63

Governing Board

Ted Aroesty

Director/Treasurer

Brighton Fire District, NY

Edward Brancati

Village/Town Manager

Mount Kisco, NY

Kitty Crow

Director of Finance

Chautauqua County, NY

Kerry Gallagher

Commissioner of Finance

Orange County, NY

Scott German

Treasurer

Genesee County, NY

Jack Marren

Town Supervisor

Town of Victor, NY

Patrick Schmitt

Treasurer

Wayne County, NY

FAQ's

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Investors should consider the investment objectives, risks, charges, and expenses of the Funds carefully prior to investing.

Investment in the Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency, and although the Funds seek to preserve the value of the investment at a fixed share price, it is possible to lose money by investing in the Funds.

This material is a general summary of some of the basic features of the NY MuniTrust® Local Government Investment Pool (“LGIP” or “Pool”), is for informational purposes only, and should not be construed as investment advice or a recommendation of any security. For a more complete understanding of Fund specific features, please refer to the NY MuniTrust Information Statement available from the LGIP or its distribution agents.

The Pool is an intermunicipal agreement (IMA) created through a municipal cooperation agreement (Municipal Cooperation Agreement) made pursuant to New York General Municipal Law, Articles 3-A and 5-G (collectively, the Act), dated as of February 1, 2022 by and among Orange County (Lead Participant) and each district and municipal corporation, as defined in the Act, that enters into the Municipal Cooperation Agreement hereof (collectively, together with the County of Orange, the Participants). Risks Considerations: Investments in the Funds involve investment risks, including the possible loss of principal. Market risk is the potential for a decline in the market value of a debt instrument and may be affected by a change in interest rates, political, regulatory, economic and social developments. Interest rate risk refers to the decline in the prices of fixed income securities that may accompany a rise in the overall level of interest rates. A sharp and unexpected rise in interest rates could impair the Fund’s ability to maintain a stable net asset value. Very low or negative interest rates may magnify interest rate risk. In addition, a low interest rate environment may prevent the Fund from providing a positive yield or paying Fund expenses out of Fund assets and could impair the Fund’s ability to maintain a stable net asset value. Credit risk is the possibility that the issuer of a bond or other security will fail to make timely payments of interest and principal. The credit risk associated with each Fund within the Pool, therefore, depends on the credit quality of the underlying debt instruments held by that Fund. In the event of a payment default on a debt instrument held in a Fund, the investment return on the Fund within the Pool that owns the investment in default will be adversely affected and, in some cases, the Fund could experience a loss of principal. Liquidity risk is the potential for there not to be a ready market for the securities in which the Fund invests. Lack of ready markets could prevent the Fund from selling securities to provide cash to meet liquidity needs, including amounts required for timely payment of withdrawals requested by participants.

BNY Mellon Securities Corporation (BNYMSC), a registered broker-dealer, is a distributor for NY MuniTrust. BNY Mellon Investment Servicing (US) Inc. is the transfer agent, The Bank of New York Mellon is custodian and Dreyfus, a division of Mellon Investments Corporation (MIC), a registered investment adviser, is the investment advisor. All are subsidiaries of The Bank of New York Mellon Corporation. BNY, BNY Mellon and Bank of New York Mellon are the corporate brands of The Bank of New York Mellon Corporation and may be used to reference the corporation as a whole and/or its various subsidiaries generally. BNY and NY MuniTrust are unaffiliated entities.

Stephen-Acquario

Stephen Acquario, ESQ

Executive Director, NY MuniTrust

As executive director of NY MuniTrust, Steve is responsible for management of NY MuniTrust, a NY Local Government Investment Pool (LGIP) established to assist local governments, BOCES, school districts and fire districts with short-term and long-term investment needs maximizing returns for local taxpayers. Through his work with counties and local governments over the past several decades, Steve is recognized as a public sector leader and tireless advocate in the fields of state and local revenues, property/casualty and workers compensation insurance pools, local government reform, local government finance and fiscal policy, and—more recently—shared services between all levels of local government and school districts.

Steve holds a Juris Doctor from Albany Law School and is a graduate of NACo’s Professional Development Academy where he received specialized training in leadership performance.

In addition to his professional successes in public sector advocacy, Steve is a current and past member of several local, statewide and national boards lending his vast expertise to their critical missions.

Antonio Ditri

VP, Business Development Officer

Tony is a business development officer at Dreyfus, based in Philadelphia, Pennsylvania. He represents the Dreyfus suite of domestic and offshore money market funds, ultra short exchange-traded fund (ETF), short and ultra short separately managed accounts (SMAs), FDIC insured products, and subadvisory capabilities. Tony focuses on creating strategic partnerships with financial intermediaries and helping them meet the liquidity needs of their underlying clients. He serves a variety of clients including banks, broker dealers, asset managers and alternative asset managers in the south, southeast, and midatlantic regions, in addition to northeast banks.

Tony has worked in the institutional money management space for his entire career. Prior to his current role, he held a senior position within JPMorgan Asset Management’s Global Liquidity division covering financial institutions in the northeast and west, where he focused on intermediary distribution as well as direct relationships with hedge funds and insurance companies. During his 12+ year tenure, he helped to grow JPMorgan Asset Management’s market share in domestic and offshore money market funds, short term bond funds, and SMAs.

He is a regular speaker and was most recently a panelist at the SIFMA Asset Management Account Roundtable to discuss money market fund trends and reform with representatives from most of the largest retail broker dealers in the US.

Tony holds the FINRA series 7, 53, and 63 licenses. He earned a Master of Business Administration in finance from the LaSalle University School of Business, in addition to a Bachelor of Business Administration in finance and international business from Temple University.

Dreyfus is a division of Mellon Investments Corporation (MIC), a registered investment adviser and subsidiary of The Bank of New York Mellon Corporation. Securities are offered by BNY Mellon Securities Corporation (BNYMSC), a registered broker-dealer and affiliate of MIC.

Kevin H. Brown, CIMA

Director, Business Development Officer

Kevin is a business development officer at Dreyfus, based in Atlanta, Georgia. He represents the Dreyfus suite of domestic and offshore money market funds, ultra short exchange-traded fund (ETF), and short duration separately managed accounts (SMAs), and he supervises distribution of the firm’s local government investment pool (LGIP) for the state of New York. In this role, Kevin focuses on solving strategic liquidity challenges for treasury teams at public and private corporations, insurance firms, higher education institutions and public entities for clients across the south, southeast and midatlantic regions. He also works with both bank-sponsored and independent investing portals. Kevin has been with BNY since 1997.

Prior to his current role, he led a sales team while maintaining client responsibility in multiple states. Before, he represented the firm’s capabilities to corporate and intermediary clients for three years. At the beginning of his career, he represented the firm’s equity and fixed income funds to bank trust, wealth and retirement platforms, and led product and practice development sessions for scores of institutional clients across the southeast. He has been a frequent speaker and panelist for the firm’s financial intermediary clients to educate on investment fundamentals, portfolio management, risk and return measurement, and all aspects of fixed income short term investing. Kevin most recently spoke on Opportunities in Short Term Investments at the Arizona AFP Desert Summit conference.

Kevin maintains his Certified Investment Management Analyst® (CIMA) designation issued by the Investments and Wealth Institute and holds the FINRA series 7, 24, 53, and 63 licenses. He earned a Bachelor of Arts in English and economics from Vanderbilt University. He has served as both Treasurer and Chairman of the Board of Directors of the State YMCA of Georgia.

Dreyfus is a division of Mellon Investments Corporation (MIC), a registered investment adviser and subsidiary of The Bank of New York Mellon Corporation. Securities are offered by BNY Mellon Securities Corporation (BNYMSC), a registered broker-dealer and affiliate of MIC.

Michelle Lens

VP, Business Development Officer

Michelle is a business development officer at Dreyfus, based in New York, New York. She represents the Dreyfus suite of domestic and offshore money market funds, ultra short exchange-traded fund (ETF), short and ultra short separately managed accounts (SMAs), FDIC insured products, and subadvisory capabilities. She specializes in providing liquidity solutions for a variety of clients including broker dealers, corporations, banks, and financial intermediaries in the northeast region.

Michelle is a BNY veteran and has been with the firm since 1987. During her significant tenure, she has built considerable knowledge in investment products and services, strengthening multiple strategic partnerships. As a relationship manager, she collaborated directly with institutional clients that invested in Dreyfus and BNY money market mutual funds. While supporting Dreyfus asset management account products, she managed the 2014 money market reform distribution initiative and developed unifying strategies by working closely with the institutional sales team and clients. Prior to this, she managed Dreyfus Institutional Sales support, where her team was responsible for supporting sales and reporting activities for Dreyfus mutual fund products.

Michelle speaks regularly on liquidity topics and most recent was a speaker at the SIFMA Operations Conference, presenting on money market reform.

Michelle holds the FINRA series 7, 52, and 63 licenses. She earned a Bachelor of Science in psychology from Fordham University.

Dreyfus is a division of Mellon Investments Corporation (MIC), a registered investment adviser and subsidiary of The Bank of New York Mellon Corporation. Securities are offered by BNY Mellon Securities Corporation (BNYMSC), a registered broker-dealer and affiliate of MIC.