By State Treasurer John Kennedy

Public offices looking for ways to save taxpayers money should try investing in the Louisiana Asset Management Pool. LAMP acts as a central deposit account where local officials pool their investments in order to benefit from competitive yields and a high level of investment management.

By taking advantage of economies of scale, LAMP participants invest their money wisely at a fee that’s affordable.

LAMP began in 1994 with 10 members and $6.5 million. The pool has grown steadily and now boasts 450 members with an investment of $1.2 billion. In less than a decade, the small individual members of LAMP have become one powerful force.

LAMP’s Mission

LAMP’s mission is to preserve principal, provide daily liquidity and professional management, and strive for competitive yields. LAMP works to be cost-efficient and democratic, vowing never to allow its size to overcome its commitment to individual member service. Helping public entities make the most of their operating dollars is LAMP’s number one goal.

LAMP’s Successes

Reaching the $1 billion mark was a major milestone for LAMP, but the organization also experienced other successes this past year. LAMP lowered fees by 30 percent, adopted new investment guidelines, diversified its management team, and added online, real-time account access for members.

These successes led to a growth in membership by 22 percent.

LAMP’s Performance

Standard & Poor’s continues to give LAMP a rating of AAAm, the highest designation in its category of public money market funds. For the eighth year in a row, the Louisiana Legislative Auditor gave an unqualified opinion on LAMP’s financial statements and operations. LAMP has never had a qualification in its history.

LAMP is the kind of creative and cooperative endeavor that our state is capable of and surely needs. It’s not government marching around without moving forward. Please contact LAMP’s administrative office at 1-800-249-5267, or visit www.latreasury.com and click on “LAMP” for more information.

State Treasurer John Kennedy serves as President of LAMP, Inc. The Louisiana Asset Management Pool, Inc. is a Louisiana non-profit corporation governed by a board of 14 members elected by the pool’s participants each year, administers LAMP.