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<br />Consulting Services Agreement between City of San Leandro and 7/1/2021 <br />Chandler Asset Management for Investment Services Exhibit F – Page 8 of 19 <br /> <br />Socially Responsible Investing <br /> <br />The investment policy prohibits investing in an entity that receives a significant portion of <br />their revenues from the gun manufacturing, fossil fuel production, private prisons and <br />tobacco producers. <br />Competitive Transactions <br />All investment transactions shall be conducted on a competitive basis with quotes from a minimum <br />of three brokers or financial institutions when possible. <br /> <br />Safekeeping <br />Purchased securities are held in third party safekeeping by the trust department of the City's bank or <br />other designated third party in the City's name and control. All security transactions entered into by <br />the City will be conducted on a delivery-versus-payment (DVP) basis and evidenced by a receipt <br />issued by the safekeeping agent. <br /> <br />Collateralization <br />An independent third party with whom the City of San Leandro has a current custodial agreement <br />will always hold collateral. A clearly marked evidence of ownership must be supplied to the City. <br /> <br />Internal Control and Review <br />The Finance Director will establish an annual review process to ensure compliance with the <br />established Investment Policy and routine reporting requirements. <br /> <br />Performance Standards <br />The investment portfolio shall be designed with the overall objective of obtaining a total rate of <br />return throughout economic cycles, commensurate with investment risk constraints and cash flow <br />needs. <br /> <br />The investment performance objective for the portfolio shall be to earn a total rate of return over <br />a market cycle which is approximately equal to the return on a Market Benchmark Index of similar <br />risk characteristics as that of the City’s investment portfolio. <br /> <br />Other market investments that may be used as yield comparisons include: <br /> <br /> The State of California Local Agency Investment Fund (LAIF) <br /> The two-year U.S. Treasury Bill <br /> The five-year U.S. Treasury Note <br /> <br />Reporting <br />149