BATON ROUGE, La. — The rate of return on investments in the Louisiana Asset Management Pool (LAMP) has exceeded 1 percent for the first time since 2009. The rate increase follows a Federal Open Market Committee’s 25 basis point rate hike in June.

“LAMP is a terrific opportunity for local governments and municipalities to invest taxpayer dollars safely,” said State Treasurer and LAMP President Ron Henson. “The pool enables local governments to benefit from investment services and rates that are usually only available to larger investors. If you’re not already participating in the program, there’s no better time to sign up.”

LAMP’s rate of return experienced historic lows for the past several years because of difficult market and economic conditions. However, LAMP still made it a priority to refund fees to participants, returning $11.5 million since 2009 and $14.8 million since 2006.

“We’re hopeful that economic conditions continue to improve for another possible rate hike in the Fall,” said Treasurer Henson. “If interest rates increase, there’s a good chance that LAMP yields will as well.”

LAMP operates under Louisiana law as a cooperative endeavor to assist local governmental entities in the investment of cash balances. All public entities, including the State of Louisiana and its departments, are eligible to participate in LAMP.

Click LAMP Historical Rates to learn more or visit www.lamppool.com for more information on participating in the program.

 

Contact:
Sarah Mulhearn
(225) 342-0012
smulhearn@treasury.state.la.us