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THE CITY OF <br /> pLEASANTON. <br /> CITY OF PLEASANTON <br /> INVESTMENT ACTIVITY SUMMARY AND ANALYSIS <br /> AS OF SEPTEMBER 30, 2017 <br /> SUMMARY: <br /> The City of Pleasanton investment portfolio decreased by $14,439,520 during the First <br /> quarter of FY 2017-18, from $201,834,361 on June 30, 2017 to $187,394,841 on <br /> September 30, 2017. For the quarter ending the yield to maturity on the portfolio was <br /> 1.19%, an increase from 1.14% reported for the quarter ended June 30, 2017. The <br /> average days to maturity (ADM) decreased from 489 days on June 30, 2017 to 470 days <br /> on September 30, 2017. <br /> As described in this report, the City reduced its investment in the Local Agency <br /> Investment Fund (LAIF) from $35 million to $28 million. LAIF is a short term <br /> investment option available to local agencies in California administered by the State <br /> Treasurer's Office. The quarterly LAIF interest rate was 1.08% and its ADM was 190 <br /> days. City staff reduced the exposure by $7 million in LAIF during the quarter mainly <br /> due to the cash flow needs during this quarter of lower revenues compared to quarters <br /> wherein Property taxes that are received such as April and December. During the quarter <br /> approximately $9.2 million in securities matured and $3.5 Million were called by issuers. <br /> Approximately $ 5.2 million of these maturities were reinvested into higher yielding <br /> investments as the yields fluctuated with a higher degree of volatility during the quarter <br /> with the Fed making it clear that it would be aggressively raising interest rates in the <br /> coming periods. The interest rates yields on the newly added investments ranged from <br /> 2.0% to 2.3%. As of September 30th 2017 approximately 80.66% of the total portfolio <br /> consisted of U.S Treasuries and agency securities. <br /> • Fair Market Value of total portfolio - $186,764,765.29 <br /> e Yield to maturity— 1.19% <br /> e Weighted average days to maturity—470 days <br /> e Fiscal year-to-date net interest earnings—$ 586,762.25 <br />