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City finance committee hears GPA briefing on portfolio, urges policy update
Summary
GPA told Santa Fe finance committee it has locked in higher multi‑year rates on new investments and recommended updating the city's 2017 investment policy to diversify maturities and holdings; committee members asked staff to break out which funds make up the city's liquidity total.
Diane Woodring, a portfolio manager with GPA Investments, told the Santa Fe Finance Committee on Feb. 9 that the city's short‑term positioning and recent securities purchases left the portfolio well placed if interest rates follow the expected downward drift.
GPA, which began managing city funds in May 2025, was hired to help invest a $25,000,000 bond proceeds portfolio and to build a dedicated $75,000,000 general‑fund investment program, Woodring said. She said GPA's assets under management total about $35,000,000,000 and that the firm works primarily with local governments in New Mexico and…
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