CITY OF LAGUNA NIGUEL
CITY COUNCIL AGENDA ITEM
To: Honorable Mayor and Council Members
FROM: Tamara S. Letourneau, City Manager
DATE: February 7, 2023
SUBJECT: Investment Report as of November 30, 2022
RECOMMENDATION
Staff recommends that the City Council receive and file the City of Laguna Niguel Investment Report as of November 30, 2022.
BACKGROUND
The City Investment Policy requires the City Manager to submit an Investment Report monthly to the City Council that contains a summary of investment transactions, including investment types, percent of portfolio, yield, purchase date, maturity date, issuer or institution, par and dollar amount invested, market value, source of market valuation, the portfolio's average weighted yield and maturity, and a description of any local agency funds or investments under the management of contracted parties.
Submission of, and the City Council's action of receiving and filing this Report, addresses the City Council's goal of fiscal sustainability.
At the Investment, Banking & Audit Committee Special Meeting on January 19, 2023, the Committee recommended that the report reflect the maximum allowable limits per the City's Investment Policy for the various investments included in the City's portfolio in future investment reports. This recommendation has been implemented in the Investment Report as of November 30, 2022 in the Summary of Cash and Investments on page 2.
ANALYSIS
The following table compares the portfolio balance as of November 2022 to November 2021.
Portfolio Balance November 2022 November 2021 Difference Balance $57,929,339.43 $52,348,282.54 $5,581,056.89
• From October 2022 to November 2022, the City's total cash and investments had a net decrease of $1,322,149.66, going from $59,251,489.09 to $57,929, 339.43. Cash receipts were higher than the prior month, primarily due to the first installment of secured property tax payments received totaling $2,199,509.68. Cash outlay was higher than receipts due to the $1,600,000 payment to CalPERS to reduce the unfunded pension liability and $1,000,000 contributed to the PARS Section 115 Trust per the City Council action on November 1, 2022, as well as $1,395,269.92 for October 2022 law enforcement services paid to the County of Orange.
• The percentage of pooled investments decreased from 44.68% to 42.26%.
Pooled investments include the Local Agency Investment Fund (LAIF) and the Orange County Investment Pool (OCIP).
• The average weighted maturity of City investments, including investment pools, increased from 566 days to 570 days. The average weighted maturity of City investments, including investment pools, is calculated as follows: Sum of days left until maturity of each individual investment multiplied by the cost of each individual investment divided by the total portfolio at cost, excluding cash in bank.
• The net yield of LAIF increased from 1.772% to 2.007%. The net yield of OCIP increased from 1.791% to 2.350%.
• The average weighted yield of City investments, including investment pools, increased from 1.852% to 1.966%. The City's average weighted yield of City investments, including investment pools, is calculated by taking the total investment earnings divided by the total portfolio at cost, excluding cash in bank. A comparison of the City's average weighted yield to short-term and long- term benchmarks is presented below.
City Portfolio Benchmark Comparisons
Average 5-Year 1-Year 6-Month OCIP LAIF
Weighted Treasury Treasury Treasury
Yield
1.966% 3.820% 4.740% 4.700% 2.350% 2.007%
The monthly Investment Report as of November 30, 2022, is attached.
ALTERNATIVES CONSIDERED
1. The City Council can choose not to receive and file the City of Laguna Niguel Investment Report as of November 30, 2022.
FISCAL REVIEW
There is no fiscal impact as a result of this action.
CONCLUSION
The City Investment Policy requires the submittal of a monthly Investment Report. Staff recommends that the City Council receive and file this Report Jamas SAtanian Kristin Fories
Tamara S. Letourneau Kristin Forier
City Manager Interim Finance Director
Attachments:
A. Monthly Investment Report as of November 30, 2022
ATTACHMENT A
Investment Report as of November 30, 2022
CITY OF LAGUNA NIGUEL
INVESTMENT REPORT
as of
November 30, 2022
amara S. Letourneal
ITY MANAGER
Kristin Forier
INTERIM FINANCE DIRECTOR
February 7, 2023
CITY OF LAGUNA NIGUEL
INVESTMENT REPORT
TABLE OF CONTENTS
Statement of Compliance/Non-Compliance 1
Report of Cash and Investments 2
LAIF Investment Reports 3-5
OCIP Investment Reports 6-8
US Bank Statement 9-18
PARS Statement 19
City of Laguna Niguel
Statement of Compliance/Non-Compliance with the City's Investment Policy The undersigned officers of the City of Laguna Niguel hereby certify that:
As of November 30, 2022, the City was in compliance with the Investment Policy adopted at the July 19, 2022 Regular City Council Meeting.
Sufficient investment liquidity from cash and cash equivalents and anticipated revenues are available to meet the City's budgeted expenditure requirements for the next six months.
Jamara Seousneau Kristin tories
Tamara S. Letourneau Kristin Forier
City Manager Interim Finance Director
City of Laguna Niguel
Summary of Cash and Investments
11/30/22
Settlement Maturity Coupon Percent of Maximum Allowable Market Description Date Date Rate Yield Cost Portfolio Per Investment Policy Value Petty Cash/Change Drawers 2,600.00 0.00% N/A 2,600.00
US Bank Checking Account 3,268,804.48 5.64% N/A 3,268,804.48 US Bank Money Market Variable 61,989.75 0.11% 20.00% 61,989.75 Local Agency Investment Fund 2.007% 23,433,336.85 40.45% Lesser of $40 million or 55% $ 22,982,501.99 Orange County Investment Pool 2.350% 1,049,747.99 1.81% Lesser of $40 million or 55% 1,049,747.99 Federal Home Loan Mortgage Corporation: 8.96% 25.00%
3134GV5R5 7/15/2020 7/15/2024 0.570% 0.610% 1,000,000.00 935,830.00 3137EAEPO 1/29/2021 2/12/2025 1.500% 1.590% 4,188,112.71 3,761,600.00 Federal National Mortgage Assolation 1/29/2021 8/25/225 14.92% 25.00% 3135G05X7 0.375% 0.410% 8,645,922.29 7,853,664.00
Federal Farm Credit Banks: 6.90% 25.00%
3133ENVD9 4/26/2022 4/26/2027 2.875% 3.010% 3,995,360.00 3,823,840.00 Federal Home Loan Banks: 21.20% 25.00%
3130AJTF6 7/14/2020 7/14/2025 0.740% 0.810% 1,000,000.00 907,800.00 3130AJTX7 7/21/2020 7/21/2025 0.720% 0.790% 625,000.00 566,281.25 3130AMFS6 8/12/2021 6/12/2026 0.750% 0.840% 2,001,415.36 1,782,860.00 3130A8XY4 10/18/2021 9/11/2026 1.875% 2.040% 4,665,690.00 4,141,575.00 3130ATBLO 9/19/2022 12/8/2023 3.625% 3.670% 3,991,360.00 3,948,520.00
51.98% 60.00%
Total City Investments Including Investment Pools 5 57,929,339.43 100.00% $ 55,087,614.46 Restricted for Specific Use
PARS 115 Pension Trust 3.980% 2,000,000.00 3.45% 20.00% $ 1,935,359.42 Average weighted maturity of Investments, excluding Investment Pools: 1,033 days Average weighted maturity of Investments, including Investment Pools: 570 days Average weighted yield of Investments, excluding Investment Pools 1.914% Average weighted yield of Investments, including Investment Pools 1.966% * Market value of City investments is provided by US Bank NOTE: Market value disclosure is for informational purposes only. City policy is to hold all investments to maturity; therefore, any unrealized gain or loss reflected between the cost and market value of an investment will not be realized.
PMIA/LAIF Performance Report
as of 12/14/22
PMIA Average Monthly Quarterly Performance
Effective Yields(1) Quarter Ended 09/30/22
November 2.007 1.35
October 1.772 0.00003699565555327
September 1.513 0.980760962
1.63%
MIA Quarter to Date() 1.29%
MIA Average Life (. 304
Pooled Money Investment Account
Monthly Portfolio Composition (1)
11/30/22
$203.7 billion
Corporate
Commercial Bonds
Time Paper 0.26%
Deposits 4.54%_ Loans
2.58% .0.18%
Certificates of
Deposit/Bank Notes.
6.63%
Agencies
19.46%
Treasuries
66.35%
Chart does not include $3,542,000.00 in mortgages, which equates to 0.002%. Percentages may not total 100% due to rounding.
Daily rates are now available here. View PMIA Daily Rates Notes: The apportionment rate includes interest earned on the CalPERS Supplemental Pension Payment pursuant to Government Code 20825 (c)(1) and interest earned on the Wildfire Fund loan pursuant to Public Utility Code 3288 (a).
Source:
(1) State of California, Office of the Treasurer
(2) State of Calfiornia, Office of the Controller
3 State of California
PMIA Pooled Money Investment Account
Market Valuation
11/30/2022
Carrying Cost Plus
Description Accrued Interest Purch. Fair Value Accrued Interest United States Treasury:
Bills 37,457,876,803.91 37,598,454,000.00 NA
Notes $ 97,679,630,784.10 94,303,013,500.00 $ 242,799,651.50 Federal Agency:
SBA 345,398.313.39 345,168,567.85 621,486.90
MBS-REMICS 3,542,218.21 3,502,313.80 15,820.59
Debentures 8,968,279,046.91 $ 8,737,319,750.00 28,391,792.45 Debentures FR CA TA CA GA CA EA $
-
Debentures CL 2,900.000,000.00 $ 2,832,621,500.00 $ 20,919,730.00 Discount Notes 25,084,355,444.45 25,194,425,500.00 NA
Supranational Debentures $ 2,328,153,758.99 $ 2,233,975,900.00 7,688,694.90 Supranational Debentures FR $ $ $ -
CDs and YCDs FR $ $
Bank Notes 100,000,000.00 $ 99,852,253.25 $ 1,283,333.33 EA tA €A 6A 13,400,000,000.00 13,370,538,436.70 111,708,152.80 CDs and YCDs $ $
Commercial Paper 9,241.303,055.56 9,298,797,388.89 NA
Corporate:
Bonds FR $
Bonds $ 531,092,050.06 $ 504,369,950.00 $ 4,048,798.73
Repurchase Agreements : -
Reverse Repurchase $ $
Time Deposits 5,264,000,000.00 $ 5,264,000,000.00 NA
PMIA & GF Loans 372,231,000.00 $ 372,231,000.00 NA
TOTAL $ 203,675,862,475.58 $ 200,158,270,060.49 S 417,477.461.20 Fair Value Including Accrued Interest $ 200,575,747,521.69 Repurchase Agreements, Time Deposits, PMIA & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). 4 California State Treasurer
Fiona Ma, CPA
Local Agency Investment Fund December 01, 2022
P.O. Box 942809
Sacramento, CA 94209-0001 LAIF Home
(916) 653-3001 PMIA Average Monthly Yields
CITY OF LAGUNA NIGUEL
TREASURER
30111 CROWN VALLEY PARK WAY
LAGUNA NIGUEL, CA 92677
Tran Type Definitions
Account Number:
November 2022 Statement
Web
Effective Transaction Tyan Confirm Confirm
Date Date Number Number Authorized Caller Amount
11/7/2022 11/7/2022 RW 1717732 N/A KRISTIN FORIER -2,000,000.00 Account Summary
Total Deposit: 0.00 Beginning Balance: 25,433,336.85
Total Withdrawal: -2,000,000.00 Ending Balance: 23,433,336.85
COUNTY OF ORANGE
OFFICE OF THE TREASURER-TAX COLLECTOR
Shari L. Freidenrich, CPA, CCMT, CPFA, ACPFIM
P. O. BOX 4515
LIFOR SANTA ANA, CA 92702-4515
octreasurer.com/publicfunds
November 30, 2022
CITY OF LAGUNA NIGUEL
Attn: Eric Hendrickson, Finance Director
30111 Crown Valley Parkway
Laguna Niguel, CA 92677
Fund Number
NOVEMBER 2022 STATEMENT
INVESTMENT BALANCE IN OCIP
Transactions
Transaction Transaction Description Authorized Signer Amount Date
11/01/2022 October 2022 Investment Admin Fee (49.17)
11/28/2022 August 2022 Interest Paid 7,062.36
Summary
Total Deposit: $ 7,062.36 Beginning Balance: $ 1,042,734.80 Total Withdrawal: $ (49.17) Ending Balance: $ 1,049,747.99 6 OF
OFFICE OF THE TREASURER-TAX COLLECTOR CANNOT COUNT
SHARI L. FREIDENRICH, CPA, CCT, CPFA, ACPFIM
P.O. Box 4515
CALIFORNI SANTA ANA, CA 92702-4515
octreasurer.com/publicfunds
ORANGE COUNTY INVESTMENT POOL
APPORTIONMENT YIELDS & BASIS POINT FEES
Monthly Apportionment Monthly Apportionment Charged Basis Actual Basis FY 22/23 Date Year
Gross Yield Net Yield Point Fees Point Fees
July 2022 0.848% (1) 0.793% (1) 5.5
YTD August 2022 1.055% (1) 1.000% (1) 5.5
GROSS September 2022 1.280% (1) 1.225% (1) 5.5
YIELD October 2022 1.827% (1) 1.772% (1) 5.5
1.503% November 2022 2.405% 2.350% 5.5
December 2022 Not Yet
January 2023 Available
February 2023
YTD NET March 2023
YIELD April 2023
1.448% May 2023
June 2022
Monthly Apportionment Monthly Apportionment Charged Basis Actual Basis FY 21/22 Date Year Gross Yield Net Yield Point Fees Point Fees July 2021 0.593% 0.535% 5.8
YTD August 2021 0.575% 0.517% 5.8
GROSS September 2021 0.562% 0.504% 5.8
YIELD October 2021 0.514% 0.456% 5.8
0.523% November 2021 0.515% 0.457% 5.8
December 2021 0.396% 0.338% 5.8 Not Yet
January 2022 0.402% 0.344% 5.8 Available
February 2022 0.439% 0.381% 5.8
YTD NET March 2022 0.462% 0.404% 5.8
YIELD April 2022 0.513% (1) 0.455% (1) 5.8
0.471% May 2022 0.614% (1) 0.594% (1) 2.0
June 2022 0.722% (1) 0.702% (1) 2.0
FY 20/21 Date Monthly Apportionment Monthly Apportionment Charged Basis Actual Basis Year Net Yield Point Fees Point Fees
Gross Yield
July 2020 1.223% 1.164% 5.9 5.0
YTD August 2020 1.144% 1.085% 5.9 5.0
GROSS September 2020 1.060% 1.001% 5.9 5.0
YIELD October 2020 0.956% 0.897% 5.9 5.0
0.802% November 2020 0.899% 0.840% 5.9 5.0
December 2020 0.767% 0.708% 5.9 5.0
January 2021 0.694% 0.635% 5.9 5.0
February 2021 0.803% 0.744% 5.9 5.0
YTD NET March 2021 0.624% 0.565% 5.9 5.0
YIELD April 2021 0.539% 0.480% 5.9 5.0
0.752% May 2021 0.562% 0.503% 5.9 5.0
June 2021 0.598% 0.588% 1.0 5.0
(1) Revised gross and net yields based on adjustments to interest income Mission: Ensure safe and timely receipt, deposit, collection and investment of public funds. 7 ORANGE COUNTY TREASURER - TAX COLLECTOR
BY INVESTMENT TYPE AT MARKET VALUE - By Percentage Holdings November 30, 2022
100%
90%
80%
70%
60%
30%
20%
Orange County Investment Pool Orange County Educational investment Pool John Wayne Airport Investment Fund Orange County Investment Pool Orange County Educational Investment Pool John Wayne Airport Investment Fund In Thousands In Thousands In Thousands
U.S. GOVERNMENT AGENCIES 3,507,786 55.91% •U.S. GOVERNMENT AGENCIES 3,770,391 55.78% IU.S. GOVERNMENT AGENCIES 49,899 92.43% U.S. TREASURIES 1,709,856 27.25% U.S. TREASURIES 1,847,673 27.33% MONEY MARKET MUTUAL FUNDS 4,089 7.57% MONEY MARKET MUTUAL FUNDS 896,645 14.29% MONEY MARKET MUTUAL FUNDS 968,891 14.33% MUNICIPAL DEBT 124,162 1.98% MUNICIPAL DEBT 134,170 1.98% LOCAL AGENCY INVESTMENT FUND 35,975 0.57% •LOCAL AGENCY INVESTMENT FUND 38.875 0.58% $ 6.274.424 100.00% 6,760,000 100.00% 53,988 100.00%
18904
00--M -UC-UU -335-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: November 1, 2022 to November 30, 2022
MARKET VALUE SUMMARY
Current Period
11/01/22 to 11/30/22
Change: 290,773.29
Beginning Market Value $27,493,186.71 $36,000,000
Taxable Interest 37.79 $30,000,000
Change in Investment Value 290,735.50
$24,000,000
Ending Market Value $27,783,960.00 $18,000,000
$12,000,000
$6,000,000
9 $0
Beginning Ending
MV MV
$27,493,186.71 $27,783,960.00
10 $471,850.43 100.00 $27,783,960.00 Total Market Value 469,600.00 99.80 27,721,970.25 Taxable Bonds
2,250.43 0.20 61,989.75 Cash & Equivalents
Annual Income Total Market Value Assets
Estimated % of Current Period
ASSET SUMMARY
November 1, 2022 to November 30, 2022 ACCOUNT NUMBER:
CITY OF LAGUNA NIGUEL
usbank
0220657-00-04007-04
00- -M -UC-UU -335-04
18904
11 $37.79 Total Current Period Income
37.79 Taxable Interest
Current Period
Income Received
INCOME SUMMARY
November 1, 2022 to November 30, 2022 ACCOUNT NUMBER:
CITY OF LAGUNA NIGUEL
usbank
0220657-00-04007-04
00- -M -UC-UU -335-04
18904
12 $0.00 Ending Cash 11/30/2022
-37.79 Net Money Market Activity
37.79 Taxable Interest
$0.00 Beginning Cash 11/01/2022
Cash
CASH SUMMARY
November 1, 2022 to November 30, 2022 ACCOUNT NUMBER:
CITY OF LAGUNA NIGUEL
usbank
0220657-00-04007-04
00- -M -UC-UU -335-04
18904
18904
00- -M -UC-UU -335-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: November 1, 2022 to November 30, 2022
ASSET DETAIL
Security Description Percent
Unrealized of Total Estimated Estimated
Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield Cash & Equivalents
Cash/Money Market
First American Government - 31846V567
Oblig Fd CIZ
#3676
61,989.750 1.0000 61,989.75 61,989.75 0.00 0.2 2,250.43 3.63 Total Cash/Money Market $61,989.75 $61,989.75 $0.00 0.2 $2,250.43 Total Cash & Equivalents $61,989.75 $61,989.75 $0.00 0.2 $2,250.43 Taxable Bonds
US Government Issues
FHLMC - 3137EAEP0
1500 02/12/2025
4,000,000.000 94.0400 3,761,600.00 4,188,112.71 -426,512.71 13.5 60,000.00 1.59 FHLMC MTN - 3134GV5R5
0.570 07/15/2024
1,000,000.000 93.5830 935,830.00 1,000,000.00 -64,170.00 3.4 5,700.00 0.61 FNMA - 3135G05X7
0.375 08/25/2025
8,700,000,000 7,853,664.00 8,645,922.29 -792,258.29 28.3 32,625.00 0.41 Federal Farm Credit Bks - 3133ENVD9
2.875 04/26/2027
4,000,000.000 95.5960 3,823,840.00 3,995,360.00 -171,520.00 13.8 115,000.00 3.01 Federal Home Loan Bks - 3130AJTX7
0.720 07/21/2025
625,000.000 90.6050 566,281.25 625,000.00 -58,718.75 2.0 4,500.00 0.79 18904
020500040-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: November 1, 2022 to November 30, 2022
ASSET DETAIL (continued)
Security Description Percent
Unrealized of Total Estimated Estimated
Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield Federal Home Loan Bks - 3130AJTF6
0.740 07/14/2025
1,000,000.000 90.7800 907,800.00 1,000,000.00 -92,200.00 3.3 7,400.00 0.81 Federal Home Loan Bks - 3130AMFS6
0.750 06/12/2026
2,000,000.000 89.1430 1,782,860.00 2,001,415.36 -218,555.36 6.4 15,000.00 0.84 Federal Home Loan Bks - 3130A8XY4
1.875 09/11/2026
4,500,000.000 92.0350 4,141,575.00 4,665,690.00 -524,115.00 14.9 84,375.00 2.04 * Federal Home Loan Bks - 3130ATBLO
3.625 12/08/2023
4,000,000.000 3,948,520.00 3,991,360.00 -42,840.00 14.2 145,000.00 3.67 Total US Government Issues $27,721,970.25 $30,112,860.36 -$2,390,890.11 99.8 $469,600.00 Total Taxable Bonds $27,721,970.25 $30,112,860.36 -$2,390,890.11 99.8 $469,600.00 Total Assets $27,783,960.00 $30,174,850.11 -$2,390,890.11 100.0 $471,850.43 Estimated Current Yield 1.69
ASSET DETAIL MESSAGES
Time of trade execution and trading party (if not disclosed) will be provided upon request. 18904
00- -M -UC-UU -335-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: November 1, 2022 to November 30, 2022
ASSET DETAIL MESSAGES (continued)
Estimated Current Yield and Estimated Annual Income are estimates provided for informational purposes only and should not be relied on for making investment, trading, or tax decisions. The estimates may not represent the actual value earned by your investments and they provide no guarantee of what your investments may earn in the future. 15 18904
00- -M -UC-UU -335-04
0220657-00-04007-04
usbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: November 1, 2022 to November 30, 2022
TRANSACTION DETAIL
Date
Posted Activity Description Cash Tax Cost
Beginning Balance 11/01/2022 $0.00 $30,174,812.32
11/01/22 Asset Income Interest Earned On 37.79
Interest From 0/122 To 10/3/22
Purchase -37.79 37.79
First Amd puros Fiz The Period 112-11/30122 0f
Ending Balance 11/30/2022 $0.00 $30,174,850.11
18904
00- -M -UC-UU -335-04
0220657-00-04007-04
usbank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: November 1, 2022 to November 30, 2022
BOND SUMMARY
60% /
50%
40%
30%
20%
10%
0%
2022 2023 2024 2025 2026 2027
Percentage of
Par Value Market Value Category
MATURITY
2022 0.00 0.00 0.00
2023 4,000,000.00 3,948,520.00 14.25
2024 1.000,000.00 935,830.00 3.38
2025| 14,325,000.00 13,089,345.25 47.21
2026 6,500,000.00 5,924,435.00 21.37
2027 4,000,000.00 3,823,840.00 13.79
Total of Category $29,825,000.00 $27,721,970.25 100.00
MOODY'S RATING
Aaa 28,825,000.00 26,786,140.25 96.62
N/A 1,000,000.00 935,830.00 3.38
Total of Category $29,825,000.00 $27,721,970.25 100.00
18904
00--M -UC-UU -335-04
0220657-00-04007-04
usbank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: November 1, 2022 to November 30, 2022
BOND SUMMARY (continued)
Percentage of
Par Value Market Value Category
S&P RATING
AA+ 28,825,000.00 26,786,140.25 96.62
N/A 1,000,000.00 935,830.00 3.38
Total of Category $29,825,000.00 $27,721,970.25 100.00
BOND SUMMARY MESSAGES
Data contained within this section excluded Mutual Funds, Exchange Traded Funds, and Closed-Ended Funds.
PUBLIC
AGENCY PARS
RETIREMENT
SERVICES
CITY OF LAGUNA NIGUEL Account Report for the Period
PARS Post-Employment Benefits Trust 11/1/2022 to 11/30/2022 Tamara Letourneau
City Manager
City of Laguna Niguel
30111 Crown Valley Parkway
Laguna Niguel, CA 92677
Account Summary
Balance as of Balance as c
Source 11/1/2022 Contributions Earnings Expenses Distributions Transfers 1/30/202 PENSION $887,896,45 $1,000,000.00 $47,647.95 $184.98 $0.00 $0.00 $1,935,359.42 Totals S887,896.45 $1,000,000.00 $47,647.95 $184.98 S0.00 50.00 S1,935,359.42 Investment Selection
Source
PENSION Moderately Conservative HighMark PLUS
Investment Objective
Source
The dual goals of the Moderately Conservative Strategy are current income and moderate capital appreciation. The major portion of the assets is PENSION committed to income-producing securities. Market fluctuations should be expected.
Investment Return
Annualized Return
Source 1-Month 3-Months 1-Xear 3-Years 5-Years 10-Years Plan's Inception Date PENSION 3.98% -0.28% -10.78% 5/26/2020
Information as provided by US Bank, Trustee for PARS; Not FDIC Insured; No Bank Guarantee; May Lose Value Past performance does not guarantee future results. Performance returns may not reflect the deduction of applicable fees, which could reduce returns. Information is deemed reliable but may be subject to change.
Investment Return: Annualized rate of return is the return on an investment over a period other than one year multiplied or divided to give a comparable one-year retum.
Account balances are inclusive of Trust Administration, Trustee and Investment Management fees Headquarters - 4350 Von Karman Ave, Suite 100, Newport Beach, CA 92660 800 540.6369 Fax 949 250.1250 www. pars.org 19