Welcome to the Minnesota Association of Governments Investing for Counties 

The Minnesota Association of Governments Investing for Counties (the "MAGIC Fund" or the "Fund") is a joint powers entity in the form of a common law trust organized and existing under the laws of the State of Minnesota in accordance with the provisions of the Minnesota Joint Powers Act. The Fund was established in the fall of 1990 for the purpose of allowing Minnesota counties and instrumentalities of counties to pool their investment funds to seek the highest possible investment yield, while maintaining liquidity and preserving capital.

Investments designed for Minnesota Counties and Instrumentalities of Counties 

The MAGIC Fund provides investments tailored to the specific needs of Minnesota counties and county instrumentalities, investing only in instruments permitted under Minnesota law.

MAGIC Portfolio: Invests in a short-term money market portfolio which offers a competitive rate. The Portfolio seeks to maintain a stable $1.00 per share net asset value and stresses safety of principal as its primary objective, and is rated AAAm by Standard and Poor’s.1

MAGIC Term: Fixed-rate investments offering terms from 60 days to 1 year. The MAGIC Term portfolio is designed to match the cash flow requirements of investors with the cash flows from the portfolio. It is rated AAAf by Fitch Ratings.2

MAGIC Fund investors also have access to a range of additional products authorized by the Board of Directors and administered by PFM Asset Management LLC (“PFMAM” or “Investment Adviser”), the Investment Adviser for the Fund.

Distinctive Structure, Specialized Focus 

  • The MAGIC Fund is sponsored by the Minnesota Association of County Auditors, Treasurers, and Financial Officers (“MACATFO”) and the Association of Minnesota Counties (“AMC”).
  • The Fund is owned and operated by its investors, ensuring that it remains focused on the particular needs of Minnesota’s counties and instrumentalities of counties.
  • The Fund’s investors elect members of the Board of Trustees to govern it – a board that represents the investors of the Fund and representatives of MACATFO and AMC.
  • The Board of Trustees is responsible for overall management of the Fund, including formulation and implementation of investment and operating policies.

For More Information 

To find out more about how the MAGIC Fund can meet your needs, please contact a Fund representative at 1-800-731-7150.

1 Standard & Poor’s fund ratings are based on analysis of credit quality, market price exposure, and management.  According to Standard & Poor’s rating criteria, the AAAm rating signifies excellent safety of investment principal and a superior capacity to maintain a $1.00 per share net asset value.  However, it should be understood that the rating is not a “market” rating nor a recommendation to buy, hold or sell the securities.  For a full description on rating methodology, visit Standard & Poor’s website (

2 The AAAf rating reflects Fitch Ratings’ (“Fitch”) review of the Term program’s investment and credit guidelines, the portfolio’s credit quality and diversification, as well as the capabilities of PFM Asset Management LLC as investment adviser. It indicates the highest underlying credit quality (or lowest vulnerability to default). However, it should be understood that this rating is a not “market” rating nor a recommendation to buy, hold or sell the securities. For a full description on rating methodology visit

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This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security. Investors should consider the investment objectives, risks, charges and expenses before investing in any of the Fund's portfolios. This and other information about the Fund's portfolios is available in the Fund's current Information Statement, which should be read carefully before investing. A copy of the Fund's Information Statement may be obtained by calling 1-800-731-7150 or is available on the Fund's website at While the MAGIC Portfolio seeks to maintain a stable net asset value of $1.00 per share and the MAGIC Term Portfolio seeks to achieve a net asset value of $1.00 per share at the stated maturity, it is possible to lose money investing in the Fund. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Fund's portfolios are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) ( and Securities Investor Protection Corporation (SIPC) ( PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC.  


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