Latest Updates: Related to Inflation
Public Finance

Asset Management


Full-Service Public Sector Asset Management

Effectively managing public funds requires specialized knowledge across a complex range of financial and compliance disciplines. Finding the right partner is key. For 75 years, HilltopSecurities has been that partner, providing a fully integrated portfolio of municipal cash management and compliance services for public entities across the nation.

We provide a full range of personalized investment management and advisory services, including portfolio management, investment policy and portfolio compliance review, and advisory services.


Explore Our Asset Management Solutions

Our client base consists entirely of municipal entities, including cities, counties, school districts, public colleges, hospitals, utilities, and transportation authorities, all with preserving principal as the primary objective.

A turnkey portfolio management solution. We review estimated cash flow needs, develop investment policies, formulate strategies, analyze investment alternatives, select securities, execute transactions, oversee settlement and prepare reports. As part of our investment policy and portfolio compliance review, we analyze the entire investment process, assess risks, and review transactions, strategies and procedures. We then suggest how to help improve earnings and reduce risk exposures.

We understand the objectives and constraints of the public sector and offer investment support for existing staff at larger local governments. We provide daily relative value reports, market updates, interest rate outlooks and credit monitoring as well as policy and strategy updates.

We can assist clients in all facets of their bond proceed process. From the issuance of the bonds to the evaluation, optimization and execution of the investment of funds, vendor and debt service payments and compliance with policies and post issuance compliance requirements including arbitrage rebate and disclosure services, HilltopSecurities provides an end-to-end fully integrated solution for public entity bond proceeds management.

HilltopSecurities administers three AAAm-rated government investment pools for local Texas and Florida governments: the Texas Short-Term Asset Reserve Fund (TexSTAR), the Local Government Investment Cooperative (LOGIC), and the Florida Short-Term Asset Reserve Fund (FLSTAR).1 These esteemed programs offer Texas and Florida local governments investment options for their cash management programs that provide preservation of principal, daily liquidity, portfolio diversification and competitive yields, combined with an uncompromising commitment to service.

 1. AAAm rating is the highest principal stability fund rating assigned by S&P Global Ratings and is obtained after Standard & Poor’s evaluates a number of factors, including credit quality, market price exposure, and management. Ratings are subject to change and do not remove market risk. 

IBID serves as an alternative for money market funds (MMFs) and other investment grade liquid investments. Learn more.

HilltopSecurities has been providing comprehensive arbitrage compliance services to issuers of tax-advantaged debt since 1987. Currently, HilltopSecurities serves as an independent arbitrage rebate consultant to approximately 451 clients across 23 states, comprising more than 3,200 bond issues with an aggregate par value of approximately $210 billion.

Many municipalities manage their operating cash and bond proceeds internally. HilltopSecurities offers a number of high-quality, liquid investment solutions that often augment municipal entities’ investment portfolios by diversifying portfolio risk, increasing yields or both. These solutions include:

  • Full family of AAA rated 2a-7 institutional class money market funds
  • FDIC-insured institutional deposits, providing demand deposit, term deposit and CD options
  • Structured products desk dedicated to serving municipalities through the offering of a full gamut of investments and structured products, including interest rate swaps, refunding/defeasance escrows, guaranteed investment contracts, and commodity hedging
  • Institutional brokerage services team involved in sales and trading of U.S treasuries, commercial paper, agencies, brokered CDs, and municipal bonds to local governments. Our approach to successful investing combines strategic support services with broad trading capabilities. And as a regional dealer, we have access to a wide array of primary and regional inventories.
Learn more about how HilltopSecurities can help you fund your most critical projects.
Thank you for visiting the HilltopSecurities website.
For best viewing experience, we recommend using Chrome, Firefox, Safari, or Microsoft Edge.