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PFM tells Albany committee portfolio posted gains in second quarter; city investment portfolio near $33 million
Summary
PFM Asset Management presented the city's second-quarter investment performance for the period ending June 30, 2025, reporting net purchases, positive interest income and modest outperformance versus the benchmark. City staff and the committee discussed portfolio composition, yields and market drivers.
PFM Asset Management presented Albany City's quarterly investment performance for the period ending June 30, 2025, reporting that the city maintained a roughly $33 million market portfolio and generated significant interest income in the quarter.
The presentation, delivered to the Albany City Council Standing Committee on Audit and Fiscal Sustainability, covered macroeconomic drivers (inflation, yields, tariffs and the recent Moody's downgrade), portfolio composition, recent purchases and quarterly returns.
The PFM presenter told the committee that the portfolio's amortized cost was about $32,400,000 and the total market value…
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