Texas Range Team

Nathan Smith, Director  


Nathan Smith joined PFM Asset Management, LLC ("PFMAM") in 2019 and is a Director based in Austin, TX. Nathan has more than 15 years of experience in the public sector, providing investment advisory services to school districts, cities, counties, and many other municipal clients in Texas.

Before joining PFMAM, Nathan worked for a registered broker-dealer, providing sales and advisory services to Texas local government investors. Prior to that, Nathan  worked for a Texas based investment advisory firm as a portfolio/relationship manager to local Texas governments, and began his public investment career as a  financial analyst at the Lower Colorado River Authority (LCRA). He is a member of the Government Finance Officers Association of Texas (GFOAT), the Texas  Association of School Business Officials (TASBO), and the Government Treasurers' Organization of Texas (GTOT).

After serving in the U.S. Marine Corps, Nathan earned his Bachelor of Business Administration from LeTourneau University and Master of Industrial Distribution from Texas A&M University. He holds FINRA Series 7 and 63 licenses.



Shelly Ilgenfritz, Client Consultant  


Shelly Ilgenfritz joined PFMAM in 2017 and is a client consultant for PFMAM's Client Services Group. Her primary responsibility is to serve the Texas Range investors by addressing client's needs,  onboarding new relationships, and to serve as a client advocate.

Shelly holds a Bachelor of Science degree in Biology from York College. She holds FINRA Series 6 and 63 licenses.




Walker Maschke, Client Consultant  


Walker Maschke joined PFMAM in 2017 and is a client consultant for the Client Services Group. His responsibilities include addressing client needs by onboarding new clients, assisting with transactions/account changes, providing requested reports, researching & answering client questions regarding the markets, their accounts and investments and working with all internal groups to ensure that client needs are being met.

Walker graduated magna cum laude with a degree in Economics from York College of Pennsylvania in May 2017. He holds FINRA Series 6 and 63 licenses.






Nelson L. Bush, Managing Director  

Nelson Bush is a Managing Director at PFMAM. Mr. Bush has overall responsibility for managing Texas Range, ensuring that investors receive the highest level of service, and reports to the Texas Range Advisory Board.

Nelson holds a BS with a focus in Accounting from York College of Pennsylvania. He also holds FINRA Series 6, Series 63 and Series 52 licenses.




Kerri Muskin, Director  

Kerri Muskin joined PFMAM in 2007 and is a senior portfolio manager. She is a member of the portfolio management team that oversees short duration fixed income assets for public entities throughout the country. Her team is responsible for the firm’s SEC-registered 2a-7 money market mutual fund, local government investment pool (LGIP) portfolios and short duration separately managed accounts. Kerri is also the primary portfolio manager of the LGIP’s TERM programs and bond proceeds accounts.

Kerri holds a Bachelor of Science in Business Administration degree from Pennsylvania State University.




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For More Information

To learn more about how Texas Range can meet your needs, please email or call 1-866-839-8376 to speak to a Texas Range Representative.

This information is for institutional investors, 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 Texas Range Investment Program's (the "Program’s") investment objectives, risks, charges and expenses before investing. This and other information about the Program is available in the Program's Information Statement, which should be read carefully before investing. A copy of the Program's Information Statement may be obtained by calling 1-866-839-8376 or is available on the Program's website at  While TexasDAILY and TexasDAILY Select seek to maintain a stable net asset value of $1.00 per share and TexasTERM seeks to achieve a net asset value of $1.00 per share at its stated maturity, 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 governmental agency. Shares of the Program are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) ( and Securities Investor Protection Corporation (SIPC) ( PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC.

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