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Hunt County treasurer asks commissioners to fund $15,000 adviser to diversify investments
Summary
County Treasurer Britney Turner asked the Hunt County Commissioners Court on July 11 to add a $15,000 annual line item so the county can hire METER Public Funds to advise its portfolio and help "create longer-term income certainty."
County Treasurer Britney Turner told the Hunt County Commissioners Court on July 11 that she wants the county to hire an outside investment adviser to help diversify the county's portfolio and protect income if short-term yields fall.
Turner said Hunt County's operating investments are currently concentrated in local government investment pools and short maturities and that she is requesting the minimum contract fee of $15,000 a year to retain METER Public Funds to advise the county. METER representative Barry Boyer told the court the firm would act on a nondiscretionary basis, presenting recommended trades to the treasurer for approval.
Why it matters: the county is largely invested in short-term pools and is exposed if interest rates decline. Turner and Boyer said adding carefully selected individual…
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