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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Bill Greene, Chief Financial Officer |
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PRESENTER(S): |
Emily Diaz, Assistant Treasurer |
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TITLE:
title
Investment Report - First Quarter 2022
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 First Quarter 2022 Investment Report has been prepared in accordance with the Financial Management Policy and is being presented to the Board.
DISCUSSION:
As of March 31, 2022, the benchmark return (T-Bill) was 0.52%. Investment returns at the State of Utah’s Public Treasurer’s Investment Fund (PTIF) (0.53%) and Chandler Asset Management (0.89%) exceeded the benchmark return. Investment returns in the overnight account at Zions Bank (0.20%) were below the benchmark return. The blended portfolio return rate of 0.58% exceeded the benchmark rate by 5.5 basis points (0.055%).
All investments are in accordance with the State Money Management Act.
ALTERNATIVES:
N/A
FISCAL IMPACT:
N/A
ATTACHMENTS:
First Quarter 2022 Investment Report