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TO: |
Board of Trustees |
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FROM: |
Jay Fox, Executive Director |
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PRESENTER(S): |
Viola Miller, Chief Financial Officer and Treasurer |
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Brian Reeves, Associate Chief Financial Officer |
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TITLE:
title
Investment Report - First Quarter 2026
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 investment report has been prepared in accordance with the Financial Management Policy and is being presented to the Board.
DISCUSSION:
As of March 31, 2026, the benchmark return (greater of the average return of three-month U.S. Treasury bills or the average return of Federal Funds rate) was 3.64% for the quarter. Investment returns for the State of Utah’s Public Treasurer’s Investment Fund (PTIF) and Zions Corporate Trust were 3.81%, and for Chandler Asset Management were 3.66% which all exceeded the benchmark return. Investment returns for the overnight account at Zions Bank were 3.13%, which did not exceed the benchmark return.
The blended portfolio return rate for the quarter was 3.72%, which was above the benchmark rate due to long term investment strategy and the lower interest rate environment for the short end of the yield curve.
Note, all returns are reported on an annualized basis.
All investments are in accordance with the Utah State Money Management Act, Section 51, Chapter 7, Utah Code annotated.
FISCAL IMPACT:
Investment earnings for UTA in the first quarter of 2026 were $5,708,063.
ATTACHMENTS:
• Investment Report 1Q 2026