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THE CITY OF1 _ rLd- 1-1-17 pLEAS4NTON® CITY OF PLEASANTON INVESTMENT ACTIVITY SUMMARY AND ANALYSIS AS OF JUNE 30, 2017 SUMMARY: The City of Pleasanton investment portfolio increased by $16,479,694 during the Fourth quarter of FY 2016-17, from $185,354,668 on March 31, 2017 to $201,834,361 on June 30, 2017. For the quarter ending the yield to maturity on the portfolio was 1.14%, an increase from 1.08% reported for the quarter ended March 31, 2017. The average days to maturity (ADM) decreased from 549 days on March 31, 2017 to 489 days on June 30, 2017. As described in this report, the City increased its investment in the Local Agency Investment Fund (LAIF) from $25 million to $35 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 0.93% and its ADM was 194 days. City staff increased the exposure by $10 million into LAIF during the quarter mainly due to the large cash inflows from Property taxes that are received during April and May. During the quarter approximately $5.0 million in securities matured and $1 Million were called by issuers. Approximately $ 22.5 million in addition to these were reinvested into higher yielding investments as the yields fluctuated with a higher degree of volatility during the quarter with the Fed made a third increase to discount rates over the last six months. The interest rates yields on the newly added investments ranged from 1.6% to 2.25%. As of June 30th 2017 approximately 79.07% of the total portfolio consisted of U.S Treasuries and agency securities. • Fair Market Value of total portfolio - $201,205,479.36 • Yield to maturity— 1.14% • Weighted average days to maturity—489 days • Fiscal year-to-date net interest earnings—$1,977,195.94