Local Government Investment Pools (LGIPs) and SEC‑registered Money Market Funds (MMFs) have long been cornerstones of public‑sector cash management, sharing common objectives of safety, liquidity, and capital preservation. Yet despite these similarities, important regulatory and accounting differences—particularly since 2016—have created meaningful distinctions in risk, transparency, and portfolio construction. In this webinar, we will compare and contrast LGIPs and MMFs, explore how state‑level oversight differs from SEC regulation, examine the implications of amortized cost accounting, and discuss what these differences mean for government investors. We will also review disclosure practices and highlight the key questions treasury professionals should be asking when evaluating these investment options.

Learning Outcomes

By the end of this webinar, participants will be able to:

• Compare the regulatory frameworks governing LGIPs and SEC‑registered Money Market Funds, including where state rules align with—or diverge from—SEC requirements.
• Understand the post‑2016 distinction around credit exposure and amortized cost accounting, and why it matters for Colorado Treasury Professionals.
• Evaluate the risk and transparency trade‑offs between LGIPs and MMFs, including how accounting treatment can affect perceived stability.
• Interpret disclosure requirements and practices for each vehicle and identify what information matters most to investors.
• Ask the right due‑diligence questions when assessing LGIPs and MMFs for public‑sector cash portfolios.

1 CPE

Presenter: Will Goldthwait

Will Goldthwait
Client Portfolio Manager, State Street Investment Management
Will is a member of the Fixed Income Investment Management Team and responsible
for the communication of cash and fixed income strategy and performance to clients
and prospects. He covers multiple sectors and vehicles. Prior to joining State Street in
2014, Will was part of Royal Bank of Scotland and Merrill Lynch’s Institutional Sales
Teams and before that worked as a Portfolio Manager for Columbia Management and
Fleet Investment Advisors.