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TO: |
Board of Trustees |
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THROUGH: |
Mary DeLoretto, Interim Executive Director |
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FROM: |
Bill Greene, Chief Financial Officer and Treasurer |
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PRESENTER(S): |
Emily Diaz, Financial Service Administrator |
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TITLE:
title
Investment Report - Second Quarter 2021
end
AGENDA ITEM TYPE:
Report
RECOMMENDATION:
Informational report for discussion
BACKGROUND:
The Board of Trustees Policy No. 2.1, Financial Management, authorizes the Treasurer to manage the investment of all non-retirement Authority funds in compliance with applicable laws and requires the Chief Financial Officer to prepare and present to the Board a summary of investments, investment activity, and investment performance compared to benchmarks as soon as practical after the end of each calendar quarter. The Second Quarter 2021 Investment Report has been prepared in accordance with the Financial Management Policy and is being presented to the Board.
DISCUSSION:
As of June 30, the benchmark return (3-month T-bill) was 0.080%. Investment returns at the PTIF (0.367%) and Zions Capital Advisors (0.721%) exceeded the benchmark return. Investment returns on the overnight account at Zions Bank (0.030%) were below the benchmark return. The blended portfolio return of 0.363% exceeded the benchmark rate by 28 basis points (0.283%).
All investments are in accordance with the Money Management Act.
ATTACHMENTS:
Second Quarter 2021 Investment Report