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File #: 10-0370    Version: 1 Name: 5/3/10 First Quarter 2010 Investment Portfolio Report
Type: Report or Communication Status: Filed
File created: 5/3/2010 In control: City Council
On agenda: 5/3/2010 Final action: 5/3/2010
Enactment date: Enactment #:
Title: Investment Portfolio Report - First Quarter 2010
Attachments: 1. ann arbor portfolio summary cb.pdf, 2. Ann Arbor20100331[1].pdf
Title
Investment Portfolio Report - First Quarter 2010
Memorandum
Attached for your information is the City's investment portfolio report for the first quarter of 2010.  At March 31, the portfolio calendar year-to-date return on investments net of fees was 2.62%.  The weighted average yield for the portfolio for the quarter was 2.75%, which exceeded our benchmark, the 12-month trailing rate of the 2-year Treasury Note as of March 31 (0.95%), by 180 basis points.  The weighted average effective maturity at quarter end was 448 days.
 
The Governmental Accounting Standards Board requires under Statement 31 that all investments be recorded at fair value versus amortized cost.  At quarter end, the amortized cost value of the portfolio was $196,116,672.06.  If investments were recorded using the fair value method, the value of the portfolio would be $199,744,781.39.  Recording investments at fair market value, the portfolio experienced an unrealized gain of $3,628,109.33.
Staff
Prepared by:  Matthew V. Horning, Treasurer
Reviewed by:  Tom Crawford, Chief Financial Officer
Approved by:  Roger W. Fraser, City Administrator