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County investment advisor urges yield-minded reinvestments; commission approves recommendations
Summary
The county's investment advisor reviewed economic signals and recommended short-term reinvestments and a limited purchase of callable agency securities to raise portfolio yield; commissioners voted unanimously to implement the recommendations.
The Seminole County Board of County Commissioners voted to implement recommendations from its investment advisor after a market outlook and portfolio review.
The advisor, introduced as Mr. McIntyre, said rising energy prices and geopolitical factors have added uncertainty but that current portfolio moves could increase yield without materially raising risk. He recommended a mixture of short-term purchases and two small agency callables, noting "your overall portfolio yield is almost 4%" and that 35 million in securities are maturing for possible reinvestment. "I'm recommending two small purchases of new agency callables," he said, explaining the yield opportunity and callable risk profile.
Commissioner Zimbauer moved to implement the advisor's recommendations and to have the clerk implement the purchases; the motion passed unanimously. The board directed the clerk to proceed consistent with the advisor's guidance and to report back on executed transactions.
