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Reso 2017-021
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Reso 2017-021
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Last modified
9/26/2017 2:00:20 PM
Creation date
3/1/2017 5:25:24 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Resolution
Document Date (6)
2/21/2017
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PERM
Document Relationships
_CC Agenda 2017 0221 CS + RG
(Reference)
Path:
\City Clerk\City Council\Agenda Packets\2017\Packet 2017 0221
8F Consent 2017 0221
(Reference)
Path:
\City Clerk\City Council\Agenda Packets\2017\Packet 2017 0221
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cill <br />(CHA <br />AASSENDLER <br />MANAGEMENT <br />CA <br />�` City of San Leandro <br />December 31, 2016 <br />Assets managed by ChandlerAsset Management are in full compliance Wth State lawand faith the Client's investment policy. <br />The City of San Leandro is able to meet its pool's expenditure requirement for the next six months. <br />City of San Leandro <br />The investment goals of the City of San Leandro are to preserve principal, to provide liquidity, and to attain a rate of <br />return commensurate with the City's investment risk constraints and cash flow needs. Furthermore, the City is able to <br />meet its cash obligations during the next six-month period. <br />Investment Report Performance Objectives <br />The performance objective for the City of San Leandro's portfolio managed by Chandler is to attain a rate of return <br />greater than the benchmark 1-3 Year Treasury/Agency securities over a market cycle. <br />Strategy <br />In order to achieve these objectives, the City of San Leandro invests in US Treasury securities, federal agency <br />securities, high quality money market instruments and high quality corporate medium term notes in accordance with <br />the City's investment policy and California Government Code Section 53600 et seq. <br />X i777 75 <br />RAfis <br />Treasury Issues <br />No limitations <br />Complies <br />Agency Issues <br />No limitations <br />Complies <br />Supranationals <br />Issued by IBRD, IFC or IADB only; "AA" rated or higher by a NRSRO; 30% <br />Complies <br />maximum; 10% max per issuer <br />Municipal Securities <br />Issued by City of San Leandro and its Agencies <br />Complies <br />Banker's Acceptances <br />"A" or higher ba NRSRO; 40% maximum; 30% per issuer; 180 days max maturity <br />Complies <br />Commercial Paper <br />A -1/P-1 or highest rating by a NRSRO; Issuer rating by S&P and Moody's; Issuer <br />Complies <br />must be a domestic corporation having assets in excess of $500 million; 25% <br />maximum; 10% per issuer; 270days max maturity <br />Negotiable Certificates of Deposit <br />30% maximum (including CDARS); FDIC Insured or Collateralized 110% <br />Complies <br />(including CDARS <br />Time Deposits (TD)/ Cerfiticates of <br />Collateralized 110% <br />Complies <br />Deposit CD <br />Medium Term Notes <br />"A" or better by a NRSRO; 30% maximum; Issuers must be corporations organized <br />Complies <br />and operating within the U.S. <br />Money Market Funds <br />Highest rating by two NRSROs or SEC registered adviser with assets greater than <br />Complies <br />$500 million; 20% maximum <br />Asset Backed Securities, Mortgage <br />"AA" or higher by a NRSRO; "A" or higher for the issuer's long term debt by at least <br />Complies <br />Backed/ Pass -Through Securities, <br />one NRSRO; 20% maximum; 5% per single Asset -Backed or Commercial <br />CMOs <br />Mortgage issuer; There is no issuer limitation on any Mortgage security where the <br />issuer is US Treasury or a Federal Agency/Government-sponsored Enterprise <br />(GSE). <br />Repurchase Agreements <br />20% maximum; 360 days max maturity; 102% collateralized; Not used by IA <br />Complies <br />Reverse Repurchase Agreements <br />20% maximum; 92 days max maturity; Not used by IA <br />Complies <br />LAIF <br />Maximum program limit; Not used by IA <br />Complies <br />Maximum Maturity <br />5 years <br />Complies <br />The City of San Leandro is able to meet its pool's expenditure requirement for the next six months. <br />City of San Leandro <br />The investment goals of the City of San Leandro are to preserve principal, to provide liquidity, and to attain a rate of <br />return commensurate with the City's investment risk constraints and cash flow needs. Furthermore, the City is able to <br />meet its cash obligations during the next six-month period. <br />Investment Report Performance Objectives <br />The performance objective for the City of San Leandro's portfolio managed by Chandler is to attain a rate of return <br />greater than the benchmark 1-3 Year Treasury/Agency securities over a market cycle. <br />Strategy <br />In order to achieve these objectives, the City of San Leandro invests in US Treasury securities, federal agency <br />securities, high quality money market instruments and high quality corporate medium term notes in accordance with <br />the City's investment policy and California Government Code Section 53600 et seq. <br />
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