About

About Public Funds Investment Institute

We are a nonprofit organization dedicated to empowering participants in the $4 trillion public funds investment market with insights, tools and resources to help them make well-informed investment decisions.

Our Mission

Our mission is to provide timely data and news, cutting-edge research, and best-practices advocacy to promote the common interests of public funds investors.

Our Vision and Values

We focus exclusively on the unique needs and interests of public funds investors, supporting a community for investors to connect, share best practices, and stay up-to-date on the latest trends and developments in public funds investing. We strive to be a leading resource and advocate for public funds investors, promoting best practices, strong governance, and positive impact on society.

Expertise

We want to be the go-to resource for news and analysis, offering insights and knowledge gained from years of experience in the industry.

Integrity

We hold ourselves to the highest ethical standards, ensuring independence, transparency and honesty in all of our interactions.

Collaboration

We foster a collaborative community of investors who share best practices and work together towards common goals.

Impact

We believe in the positive impact that public funds investing can have on society and are dedicated to promoting responsible investment practices that benefit the greater community.

Our Leadership

Marty Margolis

FOUNDER
Marty Margolis founded the company that grew into PFM Asset Management, the nation’s premier public sector investment manager. He led the company for 40 years until it was acquired by a regional bank in 2021. He pioneered in creating the first grass roots local government investment pool in the nation (Pennsylvania) the first state-sponsored non arbitrage pool (Virginia), the creation of a multi-asset class outsourced chief investment officer product, and the development of a robust national separate account business. When he left PFMAM in 2021 it had $150 billion of assets under management.

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Insights

What’s Behind the Decline in Growth of Public Funds Bank Deposits?

Bank deposits account for about 20% of the investment assets of state and local governments, a share that has declined in the recent years as local government investment pools and direct investment in Treasuries has grown. This concentration understates the importance of banks for smaller governments where deposits are often the only way to make […]

A New Bank Capital Rule: Why it Matters

In a nation of more than 4,500 depository institutions, why should it matter that Federal regulators have proposed a narrow rule that applies only to eight? The rule, proposed at the end of June by the Federal Reserve and other bank regulators, would ease the requirement that the largest banks maintain a capital buffer, with […]

Halftime: The Score for Public Funds Investments as of June 30

The first half of 2025 has been kind to public funds investors, delivering solid returns on short-term cash and historically high returns on longer-duration separate accounts. LGIP returns, while somewhat lower than in 2024, were close to generation highs, benefitting from the fact that the Federal Reserve has maintained an elevated federal funds rate. Individual […]