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File Number: 20-566 <br />5-year U.S. Treasury Note of 0.28% (2-year and 5-year yields have dropped continually since <br />March 2020). <br />Amounts invested with LAIF are liquid, funds can be withdrawn with minimal notice as City <br />operations may require. The rate of return earned by LAIF generally follows fixed income security <br />rates. <br />Chandler Asset Management manages the investment portfolio having a market value of $109 <br />million, 66% of the total portfolio. These investments range from one to almost five years to <br />maturity, with the average maturity at 1.93 years (unchanged from June 30, 2020). <br />The report notes that the City is in compliance with all provisions of the City’s Investment Policy <br />and the City is able to meet its cash obligations during the next six-months. Chandler’s strategy is <br />gradually lengthening the average maturity of the portfolio in order to gain higher interest rates. <br />PREPARED BY <br />Karen Chang, Assistant Finance Director <br />Page 2 City of San Leandro Printed on 12/9/2020 <br />202