Laserfiche WebLink
File Number: 24-037 <br />Treasury and Agency Index. This index is an unmanaged index tracking performance of direct <br />sovereign debt of the U.S. Government having a maturity of at least one year and less than three <br />years. The benchmark for Average Market Yield for the period ending September 30 is 5.15%. <br />Chandler managed funds yield for the period is 5.31%. <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Amounts invested with LAIF are liquid; funds can be withdrawn with minimal notice as City 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 />$184,480,000, 87% of the total portfolio. These investments range from one to almost five years <br />to maturity, with the average maturity at 2.07 years (a slightly higher duration than 1.96 years on <br />June 30, 2023). <br />The report notes that the City follows all provisions of the City’s Investment Policy and can meet its <br />cash obligations during the next six months. Chandler’s strategy is gradually lengthening the <br />average maturity of the portfolio. <br />Committee Review and Actions <br />·On January 31, 2024, the City Council Finance Committee reviewed the City Investment <br />Report for the quarter ended September 30, 2023, and unanimously recommended the <br />report be moved to the City Council for acceptance. <br />ATTACHMENTS <br />·Attachment A: Resolution Accepting the Investment Report for the Quarter Ended <br />September 30, 2023 <br />·Attachment B: Investment Report for the Quarter Ended September 30, 2023, prepared <br />by Chandler Asset Management <br />PREPARED BY <br />T. Michael Yuen, Finance Director <br />Page 2 City of San Leandro Printed on 2/14/2024