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CHANDLER <br />,.~_1 Assn <br />d <br />...~~ MANAGEMENT <br />Portfolio Characteristics <br /> 6/30/2007 3/31/2007 <br />LAIF -City Pool $39,305,095 $32,931,331 <br />LAIF -Redevelopment Agency 4,087,381 4,078,054 <br />LAIF -RDA 1993A Bond Proceeds 37,191 36,723 <br />LAIF -RDA 2004 Bond Proceeds 1,796,227 1,948,210 <br />Managed Pool Accounts 324,731 320,587 <br />Passbook/Checking Accounts 6,391,957 4,531,088 <br />Total LAIF and Bank Accounts $51,942,583 $43,845,993 <br />Investment Portfolio Market Value $50,968,717 $40,079,743 <br />Total Market Value $102,911,300 $83,925,736 <br />LAIF Quarterly Apportionment Rate 523% 5.17% <br />2 year US Treasury Yield to Maturity 4.86% 4.58% <br />5 year US Treasury Yield to Maturity 4.92% 4.54% <br />Investment Portfolio: <br />Average Maturity (yrs) 1.05 1.37 <br />Modified Duration 0.98 1.27 <br />Average Book Yield 4.48% 4.22% <br />Average Yield to Maturity at Market 5.24% 5.00% <br />Average Quality AAA AAA <br />Portfolio Activity <br />During the second quarter of 2007, activity in the portfolio managed by Chandler Asset <br />Management was influenced by net contributions of $7.5 million and the addition of $3 <br />million in negotiable CDs. Portfolio activity included the investment of the new monies and <br />the re-investment of maturing balances into Commercial Paper, Corporate, and Agency <br />securities with maturities ranging between June 2007 and March 2010. The portfolio sector <br />allocation is currently 60.0% Agencies, 12.2% Treasuries, 13.8% Commercial Paper, 8.0% <br />Corporates, and 5.9% Negotiable CDs. The portfolio structure and duration strategy has <br />been directed by the City and has been subordinate to their cash flow needs. Currently the <br />City's portfolio duration is about 60% of the 1-3 Year Government benchmark. <br />5 <br />