About the Fund

Formed in 2025 by New York local government finance officers, EPIC Fund NY (or the Fund) was created to offer a transparent, competitive, purpose-driven investment option for public entities across the state. The Fund reflects a shared commitment to stewardship, partnership, and the responsible management of public funds.

EPIC Fund NY is subject to the Municipal Cooperation Agreement dated as of October 30, 2025 (the Agreement) and is structured in accordance with New York State General Municipal Law (GML), Article 3-A and Article 5-G, Sections 119-n and o, as amended by Chapter 623 of the Laws of 1998. The Fund's investment and custodial policies are in accordance with GML, Sections 10 and 11 (as amended by Chapter 708 of the Laws of 1992). The Agreement is between the Town of Plattsburgh (Lead Participant) and each district and/or municipal corporation that formed the original EPIC Fund NY or that subsequently elects to participate.

EPIC Fund NY is rated AAAm by S&P Global¹ and operates as a short-term cash management portfolio. It is designed to provide:

Same-day liquidity (2 p.m. ET wire transaction deadline )
Competitive yield potential
Monthly interest payments
Zero out-of-pocket expenses for participants
Unlimited accounts and transactions
Flexible transaction options (wire, ACH)
24/7 online access via Connect
Complimentary arbitrage rebate compliance tracking and reporting for bond proceeds invested in the Fund

The Fund is managed to maintain a dollar-weighted average maturity (WAM) of 60 days or less and seeks to maintain a stable net asset value (NAV) of $1.00 per share. Investments include:

Obligations of the U.S. Treasury
Obligations guaranteed by agencies of the U.S. government where the payment of principal and interest are guaranteed by the U.S. government (full faith U.S. agency obligations)
Repurchase agreements collateralized by U.S. Treasury and full faith U.S. agency obligations
Obligations of the State of New York
Collateralized bank deposits

Arbitrage Rebate Compliance Services

For the proceeds of tax-advantaged bonds invested with the Fund, PFM Asset Management² tracks the investment of the proceeds for arbitrage rebate compliance purposes. Participants can expect to receive the following correspondence/reports free of charge*:

Spending exception compliance report; including notification of an upcoming expenditure test date
Yield restriction compliance notification
Annual estimates of accrued arbitrage rebate and yield restriction liabilities
Retention of arbitrage related documents and investment records
Installment Rebate and Yield Restriction calculation reports

* Provided all bond proceeds are invested in the Fund at the time of the bond closing.

1 S&P Global AAAm Rating: S&P evaluates a number of factors, including credit quality, market price, exposure, and management. Please visit SPGlobal.com/Ratings for more information and ratings methodology.

2 PFM Asset Management is a division of U.S. Bancorp Asset Management, Inc., the EPIC Fund NY’s investment adviser and administrator, that services public sector clients.

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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 Fund’s investment objectives, risks, charges and expenses before investing in the Fund. This and other information about the Fund 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 1-866-534-4802 or is available on the Fund’s website at www.epicfundny.com. While the Fund seeks to maintain a stable net asset value of $1.00 per share, 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 are distributed by U.S. Bancorp Investments, Inc., member FINRA (www.finra.org) and SIPC (www.sipc.org). PFM Asset Management is a division of U.S. Bancorp Asset Management, Inc., which serves as administrator and investment adviser to the Fund. U.S. Bancorp Asset Management, Inc. is a direct subsidiary of U.S. Bank N.A. and an indirect subsidiary of U.S. Bancorp. U.S. Bancorp Investments, Inc. is a subsidiary of U.S. Bancorp and affiliate of U.S. Bank N.A.