9F Consent - Laserfiche WebLink

Home

File Number: 22-298 0.35%, while the average book yield for the Chandler managed funds was 1.15%. The cash deposit return was 0.15% higher than the previous quarter, while the Chandler return was 0.04% lower. LAIF’s investment (85% of cash deposits) rate reflects a snapshot in time (the quarterly apportionment rate), while Chandler’s reflects the performance of the portfolio over the entire quarter. The City’s investment policy establishes criteria for the standard for portfolio performance. The Chandler managed fund criteria are compared with the ICE Bank of America 1-3-year US Treasury and Agency Index. This index is an unmanaged index tracking performance of direct sovereign debt of the U.S. Government having a maturity of at least one year and less than three years. The benchmark for Average Market Yield for the period ending March 31 is 2.18%. Chandler managed funds yield for the period is 1.95%. Amounts invested with LAIF are liquid; funds can be withdrawn with minimal notice as City operations may require. The rate of return earned by LAIF follows fixed income security rates. Chandler Asset Management manages the balance of the portfolio having a market value of $108.5 million, 56% of the total portfolio. These investments range from one to almost five years to maturity, with the average maturity at 1.84 years (a shorter duration than on December 31, 2021). The report notes that the City is in compliance with all provisions of the City’s Investment Policy and the City can meet its cash obligations during the next six-months. Chandler’s strategy is gradually lengthening the average maturity of the portfolio to gain higher interest rates. ATTACHMENTS Attachment A - Resolution Attachment B - Investment Report, prepared by Chandler Asset Management PREPARED BY Karen Chang, Assistant Finance Director Page 2 City of San Leandro Printed on 5/11/2022