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j'LEfiSANTONo CITY OF PLEASANTON INVESTMENT ACTIVITY SUMMARY AND ANALYSIS AS OF MARCH 31, 2017 SUMMARY: The City of Pleasanton investment portfolio decreased by ($3,563,315.) during the Third quarter of FY 2016 -17, from $188,917,983 on December 31, 2016 to $185,354,668 on March 31, 2017. For the quarter ending the yield to maturity on the portfolio was 1.08 %, an increase from 1.07% reported for the quarter ended December 31, 2017. The average days to maturity (ADM) decreased from 596 days on December 31, 2016 to 549 days on March 31, 2017. As described in this report, the City decreased its investment in the Local Agency Investment Fund (LAIF) from $28 million to $25 million. LAIF is a short term investment option available to local agencies in California administered by the State Treasurer's Office. The quarterly LAIF interest rate was 0.821% and its ADM was 180 days. City staff reduced the exposure by $3 million into LAIF during the quarter for cash flow needs as this is a quarter during which revenue flows are at the lowest. During the quarter approximately $3.0 million in securities matured and $4 Million were called by issuers. Approximately $ 6.5 million of these were reinvested into higher yielding investments as the yields fluctuated during the quarter with the Fed making a second increase to discount rates over the last six months. During the quarter staff made withdrawals from LAIF to cover weekly claims. The interest rates on the newly added investments ranged from 1.25% to 1.85 %. As of March 31st 2017 approximately 83.15% of the total portfolio consisted of U.S Treasuries and agency securities. • Fair Market Value of total portfolio - $184,803,112.43 • Yield to maturity — 1.1% • Weighted average days to maturity — 549 days • Fiscal year -to -date net interest earnings — $1,423,633.65