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City treasurer and PFM present investment performance; council debates term and liquidity
Summary
PFM reported the city's portfolio at about $121 million with a short-duration bias and solid quarterly returns; councilmembers asked staff to analyze liquidity needs and longer-term investment options and received a public pitch to study an ethical investment policy.
City Treasurer Jorge Rojas introduced a PFM Asset Management presentation on Feb. 24 showing the City of Antioch's investment portfolio balance at about $121 million and a portfolio duration aligned to the 1- to 3-year U.S. Treasury benchmark.
Justin of PFM told council that the portfolio produced meaningful income in the quarter (about $1.2 million in interest and a positive market-value change) with…
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