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Reso 2021-041 Accepting City Council Investment Report QE 12312020
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Reso 2021-041 Accepting City Council Investment Report QE 12312020
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12/21/2023 2:06:43 PM
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3/8/2021 10:45:11 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Resolution
Document Date (6)
3/1/2021
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8H Consent 2021 0301
(Approved)
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\City Clerk\City Council\Agenda Packets\2021\Packet 2021 0301
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j CHANDLER <br />, 11 ASSET <br />MANAGEMENT <br />City of San Leandro <br />Assets managed by Chandler Asset Management are in full compliance with state law and with the Client's investment policy. <br />Category <br />Standard <br />Comment <br />Treasury Issues <br />No limitations <br />Complies <br />Agency Issues <br />No limitations <br />Complies <br />Supranationals <br />"AA" rated or higher by a NRSRO; 30% maximum; 10% max per issuer; Unsubordinated obligations issued by by IBRD, IFC or IADB only <br />Complies <br />Municipal Securities <br />Issued by City of San Leandro and its Agencies <br />Complies <br />Banker's Acceptances <br />"A" or highest money market rating by a NRSRO, such as S&P or Moody's; 40% maximum; 30% per issuer; 180 days max maturity <br />Complies <br />Highest rating by a NRSRO; Issuer must be a domestic corporation having assets in excess of $500 million and A-1 and P-1 rated or better by <br />Commercial Paper <br />S&P and Moody's for its debt other than commercial paper; 25% maximum; 10%max of the outstanding commercial paper of any single <br />Complies <br />issuer; 270 days 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)/ Certificates of <br />FDIC Insured or Collateralized 110% <br />Complies <br />Deposit (CD) <br />Medium Term Corp Notes <br />"A" rated or better by NRSRO; 30% maximum; Issuers must be corporations organized and operating within the U.S. or depository <br />Complies <br />institutions licensed by the U.S., or operating within the U.S. <br />Money Market Mutual Funds <br />Highest rating by two NRSROs or SEC registered adviser with assets greater than $500 million; 20% maximum <br />Complies <br />Asset Backed Securities, Mortgage <br />Backed,Pass-Through Securities, <br />"AA" rated or higher by a NRSRO; 20% maximum; 5%per single Asset -Backed or Commercial Mortgage issuer; There is no issuer limitation <br />Complies <br />Collateralized Mortgage Obligations <br />on any Mortgage security where the issuer is US Treasury or a Federal Agency/Government-sponsored Enterprise (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 />Local Agency Investment Fund (LAIF) <br />Maximum program limit; Not used by IA <br />Complies <br />Social Responsibility <br />The investment policy prohibits investing in an entity that received a significant portion of their revenues from the gun manufacturing, fossil <br />Complies <br />fuel production, private prisons, and tobacco producers <br />Maximum Maturity <br />5 years <br />Complies <br />*Complied at time of purchase: Portfolio currently holds Fossil Fuel issuer: Chevron (166764BG4) <br />The City of San Leandro is able to meet its pool's expenditure require mentfor 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 return <br />commensurate with the City's investment risk constraints and cash flow needs. Furthermore, the City is able to meet its cash <br />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 greater <br />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 securities, high <br />quality money market instruments and high quality corporate medium term notes in accordance with the City's investment <br />policy and California Government Code Section 53600 et seq. <br />
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