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Treasurer presents quarterly investment report; board approves Treasury investment policies
Summary
Deputy Treasurer Steven Hale reported the Treasurer’s quarterly investment report showing assets under management of about $9.46 billion and positive short-term yield trends; the Board approved the Treasurer’s investment policies for the General Portfolio and the Local Government Investment Pool (LGIP) as required by statute.
Deputy Treasurer of Investments Steven Hale presented the Treasurer’s quarterly investment report for the quarter ended March 31, 2024. Hale reported assets under management of approximately $9.46 billion, noted favorable positioning on the front end of the yield curve with in‑house portfolios taking advantage of higher short‑term yields, and cited an internal portfolio quarterly result of about 4.8% for certain portfolios. He said the Local Government Investment Pool (LGIP) continued to grow and that the Treasurer’s Office now manages over $2 billion of assets for local governments through an outside manager relationship.
The item was informational only. Later, the Board considered and unanimously approved Agenda Item 7 to adopt the Treasurer’s investment policies for the General Portfolio and the LGIP dated July 2022, as required by NRS 355.045. Controller Andy Matthews moved approval and the motion passed unanimously.
