Miles Public Fund Services: Our History and Our Mission
For nearly three decades, Miles Capital has delivered liquidity and fixed income management services to local government bodies. By focusing on our three tenets of safety, liquidity and yield, we have become a trusted advisor to hundreds of public entities across numerous states.
Our roots in liquidity management for public entities run deep. In 1982, the firm was founded with the launch of an institutional money market fund offered through a “sweep” arrangement with banks to enable their customers to safely get better yields and liquidity than were available from other investment opportunities at the time. We quickly recognized the need for not only fiduciary investment management for public entities, but also for statutory compliance and comprehensive reporting. In 1986, we helped found two of the first pooled investment funds in the country, the Iowa Public Agency Investment Trust and the Iowa Schools Joint Investment Trust.
Within a few short years, we added a suite of additional services that our local government investment pools and their participants still find valuable today, including fund administration, online recordkeeping, fund accounting and tailored distribution services. These services were designed and are continually updated to help our public fund partners accumulate assets and maximize participation.
Today, Miles Public Fund Services manages or provides related services to five programs in four states. Whether we are providing all services to a local government investment pool (LGIP) or utilizing our expertise to work closely with local agents or other service partners, we are dedicated to providing expertise, innovation, and leadership for public entities.