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Chandler says Imperial Beach investment portfolio outperformed benchmark; council raises policy questions on exclusions
Summary
Chandler Asset Management told the Imperial Beach City Council on Feb. 4 that the city’s portfolio was in compliance and produced stronger-than-benchmark returns; councilmembers asked whether the city’s investment policy should be revisited to reconsider exclusions such as fossil-fuel holdings and how to treat AI-related corporate debt.
Jenny Linkiewicz of Chandler Asset Management presented Imperial Beach’s Dec. 31 investment report to the City Council on Feb. 4, saying the city’s portfolio was in compliance and delivered strong results.
Linkiewicz told the council the portfolio was structured for "safety, liquidity, and then yield," and showed a weighted average purchase yield of about 4.34% compared with a prevailing market yield of roughly 3.69%. She said the city’s portfolio was about $25,270,000 and that Chandler was "targeting a slightly longer duration, to lock in those higher yields." The firm reported roughly $272,000 in pickup over…
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