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Quarterly Investment Report Quarter Ending June 30, 2010 Finance Committee/City Council PowerPoint Presentation
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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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Presentation Transcript
slide1
Quarterly Investment Report

Quarter Ending June 30, 2010

Finance Committee/City Council

September 27, 2010

Vic Erganian – Deputy Finance Director/City Treasurer

the economy
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
total funds under management
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

pooled portfolio structure
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

general fund s portion
General Fund’s portion
  • General Fund had $34.9 million investments representing 12.27% of the Pooled Portfolio value.
pooled portfolio credit quality
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)
corporate credit quality
Corporate Credit Quality
  • GE Capital Aa2
  • JP Morgan Aa3
  • Goldman Sachs A1
  • Wells Fargo A1
  • Merrill Lynch/BofA A2
current yield
Current Yield
  • Pooled Portfolio 1.49%
  • State Treasurer’s LAIF 0.51%
  • 2 Year Treasury 0.42%
fiscal ytd effective yield as of 6 30 10
Fiscal YTD Effective Yield as of 6/30/10
  • Pooled portfolio 2.35%
  • LAIF 0.65%
  • 2 yr Treasury 0.91%
conclusion
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