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Kenai Peninsula Borough receives investment-pool briefing from METAR Public Funds
Summary
METAR Public Funds presented its assessment of the borough's investment pool, reporting a roughly $400 million portfolio, a 3.45% book yield and a 2.31-year weighted average maturity; presenters recommended a roughly two-year duration target and noted the portfolio currently outyields its benchmark.
Kenai Peninsula Borough finance committee members heard a presentation Aug. 19 from METAR Public Funds about the borough’s investment pool, including current yield, duration and strategy.
Rick Phillips and Tanya Dazio of METAR told the committee the portfolio they manage for the borough yields about 3.45% with a duration-weighted average maturity of roughly 2.31 years. Phillips said the borough’s total portfolio is roughly $400,000,000 and that, in METAR’s analysis, “every 1 basis point is $40,000 per year” for that size portfolio.
The presentation outlined METAR’s primary objectives for public portfolios — safety, sufficient liquidity to meet bills, and earning a reasonable return over economic cycles — and recommended a roughly…
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