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cWt ASSET CHANDLER <br />ASSET <br />MANAGEMENT <br />Portfolio Characteristics <br />1213112011 9130/2011 <br />LAIF - City Pool #98 -01 -809 <br />LAIF - Redevelopment Agency #65 -01 -005 <br />LAIF - RDA 1999 Bond Proceeds #11 -01 -001 <br />LAIF - RDA 2008 Bond Proceeds #11 -01 -038 <br />LAIF - Economic Development Agency <br />Passbook/Checking Accounts <br />$37,596,633 $34,559,465 <br />346,307 374,947 <br />189 188 <br />8,989,267 10, 573, 733 <br />2,960,348 2,957,512 <br />7,011,808 3,399,353 <br />Total LAIF and Bank Accounts <br />$56,904,552 $51,865,198 <br />Investment Portfolio Market Value $28,255,661 $28,184,662 <br />Total Market Value $85,160,213 $80,049,860 <br />LAIF Quarterly Apportionment Rate <br />0.38% <br />0.38% <br />2 year US Treasury Yield to Maturity <br />0.23% <br />0.25% <br />5 year US Treasury Yield to Maturity <br />0.83% <br />0.97% <br />Investment Portfolio: <br />Average Maturity (yrs) <br />1.56 <br />1.67 <br />Modified Duration <br />1.51 <br />1.62 <br />Average Book Yield <br />1.47% <br />1.47% <br />Average Yield to Maturity at Market <br />0.41% <br />0.51% <br />Average Quality <br />AA+ <br />AA+ <br />Portfolio Activity <br />During the fourth quarter of 2011, activity in the portfolio managed by Chandler Asset <br />Management consisted of the purchase of $914,000 in one Agency security. The portfolio sector <br />allocation was stable with approximately 80% Agencies and 20% Treasuries. The portfolio <br />structure and duration strategy has been directed by the City and has been subordinate to their <br />cash flow needs. <br />