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Carlsbad investment committee appoints vice chair and reviews $900M portfolio as yields rise
Summary
The City of Carlsbad Investment Review Committee appointed Laura Rocha as vice chair and received a Treasury Department overview and fourth-quarter portfolio review showing a weighted-average yield increase to 2.88% and a portfolio of just over $900 million.
The City of Carlsbad Investment Review Committee appointed Laura Rocha as vice chair and received an overview of the city’s Treasury operations and its fiscal year 2023–24 fourth-quarter investment results at a public meeting called to order at about 11 a.m.
Chair Zach Horace moved through introductions and presented the Treasury Department overview, saying the department’s investment program rests on three priorities: safety, liquidity and yield. Horace described the city’s approach as a fixed-income, buy-and-hold program with no equities permitted and a maximum five-year maturity across the portfolio. He said the policy requires…
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