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The second portfolio (Capital Growth) primarily addresses the longer-term pension <br /> liabilities and has an initial investment of $21 .3 Million. The focus of this portfolio is <br /> to earn a higher rate of return over the next ten years or so before we would need <br /> to draw upon it. Staff does not, at this time, plan to make additional allocations to <br /> the Capital Growth portfolio. <br /> Capital Growth PARS Plan <br /> $30 <br /> 0 <br /> $25 <br /> $21.3 <br /> $20 Total Assets <br /> $16.0 as of 12/31/20 <br /> $15 $26,709,803 <br /> $10.7 <br /> $10 <br /> $5.3 <br /> $5 <br /> Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 <br /> 1E Contribution -Total <br /> As of December 31, 2020, the Conservative portfolio's market balance was $18.2 <br /> Million, including the $5 Million June contribution. The Conservative portfolio's <br /> return was 5.74 percent from the inception date. The Capital Growth portfolio's <br /> December 31 , 2020 balance was $26.7 Million with the annualized investment <br /> return of 10.13 percent from the inception date. <br /> SAFEKEEPING OF SECURITIES: <br /> The two portfolios that are amounted to $44,878.915 are held in third party <br /> safekeeping for the benefit of the City of Pleasanton at US Bank where US Bank is <br /> the contractual agent for PARS trust investments that are managed by Highmark <br /> Capital Management. <br />