HomeMy WebLinkAboutCity Investment Attachment (Finance) (3)On November 15th 2011, City Council approved the Investment Management Services
Committee's recommendation to select Chandler Asset Management Inc., to provide
investment management and investment advisory services to the City of National City
and to assist in selecting long-term investments for its bond proceeds and other
investable funds pursuant to the City's Investment Policy. On February 14th 2012, the
City transfer $20 million to Chandler Asset Management; as of June 30, 2012, the
average coupon was 2.52%; of the total investment portfolio, 30.63% is invested in
Federal Agency Securities and 7.92% is invested in US Treasuries.
The City has an investment of $5 million with the San Diego County Treasurer's Pooled
Money Fund; this fund is managed by San Diego County Treasurer's investment staff
on behalf of the county, school districts and agencies. The objective is to safeguard
principal, maintain liquidity and to achieve a market investment return, this investment
accounts for 8.95% of the City's investment portfolio.
The City has $2 million investment in the CDARS program with Neighborhood National
Bank. The current investment yield is 0.80% and accounts for 3.58% of the portfolio.
The pooled investment portfolio has the ability to meet the City's financial needs.