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Quarterly Investment Report Quarter Ending June 30, 2010 Finance Committee/City Council

Quarterly Investment Report Quarter Ending June 30, 2010 Finance Committee/City Council September 27, 2010. Vic Erganian – Deputy Finance Director/City Treasurer. The Economy. Economic growth has slowed down Negative job growth in June and July Unemployment rate at 9.5%

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Quarterly Investment Report Quarter Ending June 30, 2010 Finance Committee/City Council

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  1. Quarterly Investment Report Quarter Ending June 30, 2010 Finance Committee/City Council September 27, 2010 Vic Erganian – Deputy Finance Director/City Treasurer

  2. The Economy • Economic growth has slowed down • Negative job growth in June and July • Unemployment rate at 9.5% • Consumer confidence remains low and not spending • Housing market still not out of the woods • Existing home sales had major declines in May and June • Year over year inflation declined to 1.2%, Core inflation dropped to 0.9% • No change in Fed Funds rate

  3. Total Funds Under Management Pooled Portfolio $298,123,057 Capital Endowment 6,541,839 Stranded Inv Reserve 63,037,036 Special Funds 22,829,724 Investments w/Fiscal Agents 56,018,065 Total 446,549,721

  4. Pooled Portfolio Structure AS OF 06/30/2010 TYPE MKT VALUE PERCENT Money Market Fund $60,311,804 20.30% MMF FDIC Insured 5,249,814 1.77% Municipal Bonds $17,254,004 5.81% Corporate Bonds $36,136,316 12.16% MBS/GNMAs $340 0.0% Federal Agencies $122,760,681 41.32% LAIF $49,134,811 16.54% Cash in Bank $6,240,930 2.10% TOTALS: $297,088,700 100.0% Accrued Int Receivable $1,034,356 GRAND TOTAL: $298,123,057

  5. General Fund’s portion • General Fund had $34.9 million investments representing 12.27% of the Pooled Portfolio value.

  6. Pooled Portfolio Credit Quality • Money Market Funds AAA • Municipal Bonds AAA • Federal Agencies AAA • Corporate Bonds AA • CD FDIC/Collateralized • LAIF In Trust (Not rated)

  7. Corporate Credit Quality • GE Capital Aa2 • JP Morgan Aa3 • Goldman Sachs A1 • Wells Fargo A1 • Merrill Lynch/BofA A2

  8. Current Yield • Pooled Portfolio 1.49% • State Treasurer’s LAIF 0.51% • 2 Year Treasury 0.42%

  9. Fiscal YTD Effective Yield as of 6/30/10 • Pooled portfolio 2.35% • LAIF 0.65% • 2 yr Treasury 0.91%

  10. Conclusion • All investments are in compliance with the State Government Code and the City’s investment policy • Ample liquidity is maintained to meet budgeted expenditures • Adequate returns vs portfolio risk

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