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File Number: 25-388 <br />Analysis <br />QUARTERLY INVESTMENT REPORT <br />PFM Asset Management has prepared the quarterly investment report for the OPEB Trust and <br />Pension Trust for the period ending March 31, 2025, summarizing investment performance. The <br />asset allocations for both the OPEB Trust and the Pension Trust follow City Council-approved <br />investment policies. <br />Assets in the OPEB Trust portfolio increased from $22,322,588 in the prior quarter to <br />$22,582,546. Assets in the Pension Trust totaled $32,801,584 at the end of the prior quarter and <br />are now $32,845,489. Investment fluctuations are expected due to changing market conditions, <br />including impacts from geopolitical conditions. A summary of investment returns is outlined below. <br />Please refer to the attached investment report for details. <br />Trust 1 Year 3 Years 5 Years 7 Years Inception-to-Date <br />OPEB 5.49%3.01%5.63%4.36%4.53% <br />Pension 5.38%4.44%N/A N/A 2.19% <br />Current Agency Policies <br />Investment Policy Statement for the City of San Leandro Other Post-Employment Trust <br />Investment Policy Statement for the City of San Leandro Section 115 Trust Pension Fund <br />Committee Review and Actions <br />Finance Committee (July 23, 2025) - The OPEB Trust and Pension Trust investment report for <br />the Quarter ended March 31, 2025 was reviewed by the City Council Finance Committee <br />on July 23, 2025. The Finance Committee unanimously recommends the OPEB Trust and <br />Pension Trust investment report be moved to the City Council for acceptance. <br />Financial Impacts <br />There is no fiscal impact as this report is informational only. <br /> <br />ATTACHMENTS <br />A: Resolution Accepting OPEB/Pension Investment Report <br />B: Investment Report for the Quarter Ended March 31, 2025 <br />PREPARED BY: Nicole Gonzales, Finance Director <br />Page 2 City of San Leandro Printed on 9/4/2025