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Board accepts Lake County pooled investment report; treasurer warns returns may moderate
Summary
The Lake County Board of Supervisors voted to accept the county pooled investment report for the quarter ending March 31, 2025. Treasury staff reported a $526 million portfolio with strong recent returns but cautioned that tariff-driven economic uncertainty and federal policy changes could reduce future earnings.
The Lake County Board of Supervisors on a voice vote accepted the county pooled investment report for the quarter ending March 31, 2025, following a presentation by Treasurer-Tax Collector Patrick Sullivan and Chandler Asset Management.
The report showed a portfolio of roughly $526 million and a yield of about 4.09% as of March 31, with quarterly cash earnings of just over $5,000,000. Presenters said those results reflected strong interest income and fair-value appreciation over the prior 12 months; the 12-month return through April was reported at about 6.61%.
"The past numbers, all good news. ... Into the future, a little bit more uncertainty," said Carlos Oblides of Chandler Asset Management, summarizing the investment outlook. Oblides and county treasury staff told supervisors that recent market moves — driven in part by tariff developments and uncertainty in federal fiscal policy — have increased volatility in…
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