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Objectives, Risk & Diversification <br /> The objectives of the investment program are as follows in order of priority: <br /> • Safety of Principal <br /> • Liquidity <br /> • Suitability <br /> • Yield <br /> All investments contain an element of risk. The different types of risk include credit risk, <br /> custodial risk, concentration risk and interest rate risk. The recommended Policy is <br /> designed to establish a very low tolerance for risk with safety of principal being paramount <br /> as a guiding principal and objective. <br /> Management of Investment Portfolio Adviser <br /> Authority to manage the City's investment program is derived from Section 53600 et <br /> seq. of the Government Code and Chapter 2.16 of the Pleasanton Municipal Code. <br /> Management responsibility for the investment program is delegated by the City Council <br /> and City Manager to the Director of Finance. The authority to manage some or all of <br /> the City's investment portfolio can be further delegated to outside professional <br /> investment advisers at the election and further approval of the City Council at the <br /> recommendation of the City Manager and Director of Finance. The Adviser must be <br /> registered under the Investment Advisers Act of 1940. The Adviser is required to follow <br /> the City's Investment Policy, written internal controls and such other written instructions <br /> as provided. Such delegation would be subject to City review and overriding discretion. <br /> Staff recommends that City Council approve the Investment Policy and Guidelines of the <br /> City of Pleasanton. <br /> Submitted by: Approved y: <br /> Emily E. Wagner Nelson Fialho <br /> Director of Finance City Manager <br /> Attachments: <br /> A. Resolution <br /> B. Investment Policy and Guidelines <br /> Page 4 of 4 <br />