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File Number: 13-153 <br />rate of return on the 2-year U.S. Treasury securities of 0.24% and is the same as the 5-year <br />U.S. Treasury security benchmark of 0.76%. <br />Amounts invested with LAIF are essentially liquid; funds can be withdrawn with minimal notice <br />as City operations require. The rate of return earned by LAIF generally follows fixed income <br />security rates. The balance of the City’s portfolio is with Chandler Asset Management . These <br />investments range from one to four years in maturity. The attached report notes that the City <br />is in compliance with all provisions of the City’s Investment Policy . The basic strategy <br />recommended by Chandler is to gradually lengthen the average maturity of the portfolio in <br />order to gain higher interest rates. Staff is in agreement with this approach , but carefully <br />monitors maturity dates to ensure that both short and long-term liquidity needs are met. <br />CONCLUSION <br />Staff recommends that the City Council review and accept the attached investment report for <br />the quarter ended March 31, 2013. <br />ATTACHMENTS <br />·City Council Investment Report for Quarter Ended March 31, 2013 as Provided by <br />Chandler Asset Management <br />PREPARED BY: David Baum, Finance Director, Finance Department <br />Page 2 City of San Leandro Printed on 5/14/2013