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Council adopts updated 2025 investment policy allowing expanded asset-backed allocation
Summary
City Council adopted Resolution 2025-10 updating the city's investment policy to increase the allowable allocation to asset-backed securities from 10% to 20% and to increase the maximum permitted duration for that sector from two years to three years; the change is intended to give the city's investment adviser additional flexibility.
The Milford City Council voted to adopt an updated city investment policy that expands the permissible allocation to asset-backed securities and lengthens the allowable maximum term for that sector. Lou Vitola, finance staff, presented Resolution 2025-10 and said the update included one substantive change and several technical edits; the key substantive change increases the maximum allocation to asset-backed securities from 10% to 20% of the portfolio and extends that sector's maximum duration from two years to three…
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