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Finance committee reviews short-term investment strategy, asks staff to return on ESG screening
Summary
Oak Park finance committee heard presentations from Byline Bank and Huntington on the village's short-term investment portfolio, including yields, fee structure and options for socially screened corporate investments. Trustees asked staff for additional data and an updated policy to allow transparent values-based choices.
Oak Park's Finance Committee on Oct. 8 received detailed briefings from its banks on the village's short-term investment portfolio and asked staff to return with options for social screening and policy language.
Ed Meadows of Byline Bank told the committee the village's short-term portfolio is structured for liquidity and yield, focusing on U.S. Treasuries and taxable municipal bonds. "Since inception on Jan. 1, 2024, the portfolio is averaging about 4.93% on an average annual basis," Meadows said, and noted the manager charges a 20-basis-point fee that…
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