12 - Laserfiche WebLink

4. 11 THE CITY OF pL EASANTONO CITY OF PLEASANTON INVESTMENT ACTIVITY SUMMARY AND ANALYSIS AS OF SEPTEMBER 30, 2018 SUMMARY: Primary City Managed Investment Portfolio The City of Pleasanton investment portfolio decreased significantly by $21,267,573 ($32,027,270) from the General investment portfolio while $10,650,000 was added into the new Section 115 Trust fund for Pensions), during the first quarter of FY 2018-19. The General portfolio decreased from $206,968,644 on June 30, 2018 to $174,941,374 on September 30, 2018. For the quarter ending the Effective rate of return on the portfolio was 1.67%, an increase from 1.56% reported for the quarter ended June 30, 2018. The average days to maturity (ADM) increased from 423 days on June 30, 2018 to 498 days on September 30,2018. As described in this report, the City's investment in the Local Agency Investment Fund (LAIF) decreased to $22 million down by $28 million mainly due to investing into the new trust fund $17.34M and $14.7M towards cash flow needs wherein several major capital projects payments were processed. 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 2.00% with ADM of 193 days. During the quarter approximately $15.75 million in securities matured, $ 10.74 million of these were reinvested into significantly higher yielding investments as the yields demonstrated a higher level of volatility which we used to our advantage by investing when bond prices dropped. The yields on the newly added investments ranged from 2.79%to 3.11%. As of September 30th, 2018 approximately 74.43% of the total portfolio consisted of U.S Treasuries and agency securities, while the LAIF investment was 13.15%of the portfolio. • Fair Market Value of total portfolio - $173,101,723 • Effective rate of return— 1.67% • Weighted average days to maturity—498 days • Fiscal year-to-date net interest earnings—$790,063