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8F Consent 2021 1115
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8F Consent 2021 1115
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11/11/2021 11:09:17 PM
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11/11/2021 11:09:16 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agenda
Document Date (6)
11/15/2021
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Reso 2021-158 City Council Investment Report
(Approved by)
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\City Clerk\City Council\Resolutions\2021
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File Number: 21-624 <br />The City’s investment policy establishes three criteria as a performance standard, the LAIF rate <br />of return and the rates for both 2-year and 5-year U.S. Treasury securities. Amounts invested in <br />LAIF exceeded both standards. The Chandler managed funds average book yield was 1.21%, <br />exceeding the benchmark rates of return on the 2-year U.S. Treasury Bill of 0.28% and the 5-year <br />U.S. Treasury Note of 0.98%. <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 Funds can be withdrawn with minimal notice as City 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 follows fixed income security rates. <br />Chandler Asset Management manages the balance of the portfolio having a market value of <br />$111,323,000, 62% of the total portfolio. These investments range from one to five years to <br />maturity, with the average maturity at 1.9 years (slightly shorter duration than on June 30, 2021). <br />The report notes that the City follows all provisions of the City’s Investment Policy, and the City <br />can meet its cash obligations during the next six-months. Chandler’s strategy is gradually <br />lengthening the average maturity of the portfolio to gain higher interest rates. <br />PREPARED BY <br />Karen Chang, Assistant Finance Director <br />Page 2 City of San Leandro Printed on 11/12/2021143
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