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City investment adviser reports 4.1% portfolio yield and recommends administrative policy updates
Summary
The city's investment adviser told the Finance Commission the pooled portfolio yielded about 4.1% and is positioned with modestly longer duration versus its benchmark; staff recommended administrative clarifications to the investment policy (including changes tied to SB 858) and will forward the amendments to City Council for adoption.
The city's investment adviser presented the annual investment report and a proposed administrative update to the investment policy, saying the portfolio offered an attractive yield and remains high-quality and liquid. "The yield to maturity on the portfolio is very attractive at 4.1%," the presenter said, and described a portfolio positioned with an effective duration near 2.7 versus a benchmark around 2.5.
The presenter said the portfolio's market value and allocation mix have enabled…
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