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THE CITY OF <br /> pLEASANTON, <br /> CITY OF PLEASANTON <br /> INVESTMENT ACTIVITY SUMMARY AND ANALYSIS <br /> AS OF DECEMBER 31, 2020 <br /> SUMMARY: <br /> Primary City Managed Investment Portfolio <br /> The City of Pleasanton General investment portfolio increased by $3,632,789 <br /> (based on the investment book value) from $191,451,635 to $195,451,635 during <br /> the last quarter ending on December 31, 2020. The increase in the portfolio <br /> resulted from various cash transactions including the property tax installment <br /> during December. For the year ending December 31, 2020, the fiscal year to date <br /> effective rate of return on the portfolio was 1.56percent. The average days to <br /> maturity (ADM) decreased from 825 days on September 30, 2020 to 773 days on <br /> December 31, 2020. <br /> As described in this report, the City's investment in the LAIF has been maintained <br /> at $75 million mainly to take advantage of a higher short-term interest rate that <br /> LAIF offered. The quarterly LAIF interest rate was 0.63 percent with ADM of 165 <br /> days. During the quarter approximately $23 million in securities matured or were <br /> called, which the City either used to fund operating costs or reinvest into LAIF, <br /> Agencies and Corporates at the market rate. The yields on the newly added <br /> investments ranged from 0.50 percent to 0.62 percent. As of December 31, 2020, <br /> approximately 35.7 percent of the total portfolio consisted of federal agency <br /> securities, while the LAIF investment was 38.4 percent of the portfolio, and <br /> corporate notes accounted for 25.4 percent of the investment portfolio. <br /> • Fair Market Value of total portfolio - $197,724,055 <br /> • Effective rate of return — 1.56 percent <br /> • Weighted average days to maturity — 773 days <br /> • Fiscal year-to-date net interest earnings — $1,545,669 <br />