How To Invest

To participate in Virginia SNAP and invest in the SNAP Fund you must complete the following steps:

New Participants (first time investors):

Complete the following steps to join the SNAP Program

Read the Information Statement and the Contract
Contact a Program Representative to have your questions answered
Have your governing body adopt the Sample Resolution or provide the Alternative Participation Agreement
Complete the New Investor Application
Complete the appropriate forms as listed below for Existing Participants

Existing Participants:

For revenue bond issues and other bond issues that involve a trustee

Complete the following forms/steps to open a new account

Trusteed Account Application
Provide a Program Representative with a copy of the applicable Trust Indenture/Agreement
Schedule B – Trustee Verification Form
Permissions Form
Contact Record Form
Schedule A – Bond Information Document (within 30 days of settlement)

For bond issues administered entirely by Participant staff

Complete the following forms to open a new account

Account Application
Permissions Form
Contact Record Form
Schedule A – Bond Information Document (within 30 days of settlement)

Special Report: Debt Ceiling

In light of circumstances regarding the U.S. Government debt ceiling, we wanted to inform you that the Virginia SNAP portfolio currently does not hold U.S. Treasury securities maturing prior to December 31, 2023. For more information on the debt ceiling, please see the investment manager’s recent update here.

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On October 27, 2016, the SNAP Fund (“SNAP Fund” or “Fund”) was established as a local government investment pool. The Fund invests in securities permitted by Code of Virginia §2.2‐4500 et seq. and may hold deposits subject to Code of Virginia § 2.2‐4400 et seq. Additional information on the Fund’s investment policies can be found in the SNAP.

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 investment objectives, risks, charges and expenses before investing in the Virginia State Non‐Arbitrage Program (“SNAP®” or the “Program”). This and other information about the Program is available in the SNAP® Information Statement, which should be read carefully before investing. A copy of the SNAP® Information Statement may be obtained by calling 1‐800‐570‐SNAP (7627) or is available on the Program’s website at www.vasnap.com. While the SNAP® Fund Portfolio seeks to maintain a stable net asset value of $1.00 per share, it is possible to lose money investing in the Program. An investment in the Program is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the SNAP® Fund Portfolio are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) (www.finra.org) and Securities Investor Protection Corporation (SIPC) (www.sipc.org). PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC.