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Portfolio Activity <br />During the fourth quarter of 2012, activity in the portfolio managed by Chandler Asset Management <br />consisted of the reinvestment of $2.41 million in several Treasuries, Agency securities with <br />maturities ranging from October 2015 to August 2016. The portfolio structure and maturity strategy <br />has been directed by the City. Currently, the portfolio’s average maturity is 1.78 years and is about <br />equal to that of the 1-3 Year Government benchmark. <br />2 <br />12/31/2012 9/30/2012 <br />LAIF - City Pool #98-01-809 $28,734,197 $31,698,211 <br />LAIF - Successor Agency 5,901,798 6,931,609 <br />LAIF - RDA 1999 Bond Proceeds #11-01-001 0 0 <br />LAIF - RDA 2008 Bond Proceeds #11-01-038 0 0 <br />LAIF - Economic Development Agency 0 0 <br />Passbook/Checking Accounts 6,325,418 6,580,251 <br />Total LAIF and Bank Accounts $40,961,413 $45,210,071 <br />Investment Portfolio Market Value $33,525,157 $33,483,596 <br />Total Market Value $74,486,570 $78,693,667 <br />LAIF Quarterly Apportionment Rate 0.32%0.35% <br />2 year US Treasury Yield to Maturity 0.25%0.23% <br />5 year US Treasury Yield to Maturity 0.72%0.63% <br />Investment Portfolio: <br /> Average Maturity (yrs)1.83 1.84 <br /> Modified Duration 1.78 1.80 <br /> Average Book Yield 0.78%0.79% <br /> Average Yield to Maturity at Market 0.34%0.35% <br /> Average Quality S&P/Moody AA+/Aa1 AA+/Aa1 <br />Portfolio Characteristics