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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 

  1. Read the Information Statement and the Contract
  2. Contact a Program Representative to have your questions answered
  3. Have your governing body adopt the Sample Resolution or provide the Alternative Participation Agreement
  4. Complete the New Investor Application
  5. 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 

  1. Trusteed Account Application
  2. Provide a Program Representative with a copy of the applicable Trust Indenture/Agreement
  3. Schedule B – Trustee Verification Form
  4. Permissions Form
  5. Contact Record Form
  6. 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 
  1. Account Application
  2. Permissions Form
  3. Contact Record Form
  4. Schedule A – Bond Information Document (within 30 days of settlement)
 

  

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 Information Statement. 

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 a wholly owned subsidiary of PFM Asset Management LLC. 

 

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