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City investment portfolio grows to about $300 million; yield outpaces benchmarks
Summary
Missouri City staff and investment consultant reported a March portfolio value of about $300.1 million, driven by tax revenues and earning a yield of roughly 3.89%, producing about $2.9 million in interest income for the quarter.
City staff and the city’s investment consultant presented the quarterly investment report showing growth in the portfolio and performance above benchmarks.
Jamie Hobbs of Valley View Consulting told the council the March portfolio value was "$300,093,000" — an increase of "$48,900,000, due to tax revenues" — and that the quarterly yield was about "3.89" percent with roughly "$2,900,000" in interest income. Hobbs described the portfolio composition as largely liquid demand and pool accounts with laddered securities and CDs for medium‑term returns.
Council members asked for context on the growth rate and liquidity; Hobbs explained the March increase reflected tax receipts and the mix of demand accounts and laddered securities. After questions, the council accepted the quarterly investment report by unanimous vote.
