City of Manhattan Beach
Finance Department
Investment Portfolio
June 2023
As Finance Director for the City of Manhattan Beach, I hereby certify that these investments are in compliance with the City’s investment policy (unless otherwise noted). Sufficient liquidity has been maintained to meet budget expenditure requirements for the current six month period.
CITY OF MANHATTAN BEACH
Portfolio Management
June 1, 2023 through June 30, 2023
Portfolio Summary
% of
Portfolio
Book
ValueInvestments
Market
Value
Par
Value
Days to
Maturity
Term
YTM
360 Equiv.
YTM
365 Equiv.
LAIF 42,000,000.00 131.10 3.124142,000,000.0042,000,000.00 3.167 Medium Term Notes 20,238,007.25 1,64314.98 3.11297119,768,710.0021,000,000.00 3.156 Federal Agency Issues - Coupon 30,783,528.78 1,41422.79 2.29565729,711,990.0031,000,000.00 2.327 Treasury Securities - Coupon 42,035,409.55 1,58731.12 1.96095939,718,990.0043,000,000.00 1.987 135,056,945.58 100.00%
Investments
131,199,690.00137,000,000.00 1,063 594 2.571 2.607
Cash
(not included in yield calculations)
Passbook/Checking 11,201,778.61 1 0.000111,201,778.6111,201,778.61 0.000 146,258,724.19Total Cash and Investments 142,401,468.61148,201,778.61 1,063 594 2.571 2.607 Current Year
June 30
247,454.71
Fiscal Year To Date
2,366,660.02 2,366,660.02
Fiscal Year EndingTotal Earnings Month Ending
__________________________________________________ ____________________ STEVE S. CHARELIAN, FINANCE DIRECTOR
Portfolio CITY
CP
Reporting period 06/01/2023-06/30/2023
Run Date: 07/21/2023 - 11:19 PM (PRF_PM1) 7.3.11
Report Ver. 7.3.11
CITI' OF MANHATTAN BEACH
Portfolio Management
Portfolio Details - Investments
June 30, 2023
CUSIPInvestment #Issuer
Purchase
DatePar ValueMarket Value
Stated
Book Value Rg(eS&P
YTM Days to Maturity
365_Maturity_ Date
LAIF
SYS30003000Local Agency Invest. Fund
Subtotal and Average
07/01/201842,000,000.0042,000,000.0042,000,000.00 3.1673.1671 42,000,000.0042,000,000.0042,000,000.003.1671
Medium Term Notes
037833DB3 MTN0112
037833ET3 MTN0121
023135BX3 MTNOIII
023135BC9 MTN0116
06406FAD5 MTN0106
06406RAL1 MTN0109
06406RAF4 MTN0118
22160KAN5 MTN0117
22160KAN5 MTN0119
254687FK7 MTN0107
478160CP7 MTN0113
478160CP7 MTN0114
191216CL2 MTN0108
594918BQ6 MTN0104
594918BY9 MTN0115
58933YAY1 MTN0110
58933YBH7 MTN0120
89236TFNO MTN0099
89236TDK8 MTN0101
931142ERO MTN0122
APPLE INC
APPLE INC
AMAZON.COM LLC
AMAZON.COM LLC
BANK OF NY MELLO
BANK OF NY MELLO
BANK OF NY MELLO
COSTCO COMPANIES
COSTCO COMPANIES
Wait Disney
Johnson & Johnson
Johnson & Johnson
COCA-COLA CO
MICROSOFT CORP
MICROSOFT CORP
MERCK & CO INC
IVIERCK& GOING
TOYOTA MOTOR CREDIT
TOYOTA MOTOR CREDIT
WALMART INC
10/25/2022
06/12/2023
02/24/2022
02/09/2023
09/09/2019
02/10/2020
04/14/2023
04/14/2023
04/18/2023
12/12/2019
10/25/2022
12/22/2022
12/12/2019
07/01/2019
12/22/2022
10/05/2021
06/12/2023
09/21/2018
03/26/2019
06/12/2023
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
938,350.00
983,750.00
940,860.00
899,030.00
955,730.00
935,180.00
995,920.00
882,890.00
882,890.00
1,916,740.00
874,210.00
874,210.00
966,490.00
997,050.00
961,650.00
903,610.00
982,620.00
994,870.00
989,830.00
892,830.00
926,410.29
992,446.00
972.214.84
955,654.78
1,009,011.00
1,On,205.00
959,059.91
908,947.14
907,900.21
1,994,901.64
863,285.17
884,038.16
993,679.00
999,000.00
970,825.17
991,420.00
992,917.00
999,500.00
998,875.96
906,715.98
2.900
4.000
1.000
3.150
2.200
2.100
3.400
1.375
1.375
1.750
0.950
0.950
1.750
2.000
3.300
0.750
4.050
3.450
2.250
1.050
AA
A
A
A+
A+
A-
AAA
AAA
A+
AAA
AAA
A+
A+
A+
4.905
4.171
1.963
4.282
1.951
1.850
4.410
3.743
3.765
1.977
4.593
3.880
1.890
2.025
4.163
0.950
4.210
3.461
2.634
4.183
1,534
1,775
1,046
1,513
46 481
1,673
1,450
1,450
426
1,523
1,523
433
38 1,316
969
1,782
81 109
1,174
09/12/2027
05/10/2028
05/12/2026
08/22/2027
08/16/2023
10/24/2024
01/29/2028
06/20/2027
06/20/2027
08/30/2024
09/01/2027
09/01/2027
09/06/2024
08/08/2023
02/06/2027
02/24/2026
05/17/2028
09/20/2023
10/18/2023
09/17/2026
Subtotal and Average21,000,000.0019,768,710.0020,238,007.253.156971 Federal Agency Issues - Coupon
31422XW99 FAC0304
3133EJK57 FAC0278
3133ENPX2 FAC0294
3133EJDV8 FAC0296
3133ENWP1 FAC0297
3133ENEJ5 FAC0301
3133ENV72 FAC0303
3130A2UW4 FAC0285
3130AGWK7 FAC0289
Run Date: 07/21/2023-11:19
FARMER MAC
FED FARM CR BK
FED FARM CR BK
FED FARM CR BK
FED FARM CRBK
FED FARM CR BK
FED FARM CR BK
Federal Home Loan Bank
Federal Home Loan Bank
02/14/2023
12/12/2018
02/24/2022
04/11/2022
05/16/2022
06/17/2022
10/27/2022
12/11/2019
02/07/2020
1,000,000.00
2,000,000.00
1,000,000.00
2,000,000.00
2,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
1,000,000.00
983,590.00
1,997,080.00
935.010.00
1,912,200.00
1,951,500.00
941,910.00
996,370.00
1,943,320.00
959,150.00
1,000,000.00
2,000,347.79
997,642.00
2,029,510.43
2,000,000.00
967,981.64
998,356.00
2,026,781.80
1,001,306.00
3.850
3.080
1.800
3.150
2.625
0.875
4.500
2.875
1.500
AA+
AA+
AA+
AA+
AA+
3.850
2.840
1.870
2.747
2.625
3.250
4.550
1.771
1.470
1,689 02/14/2028
23 07/24/2023
783 08/22/2025
1,360 03/22/2027
320 05/16/2024
506 11/18/2024
1,122 07/27/2026
440 09/13/2024
411 08/15/2024
Portfolio CITY
CP
PM (PRF_PM2)7.3.11
Report Ver. 7.3.11
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CUSIPInvestment #Issuer
CITl' OF MANHATTAN BEACH
Portfolio Management
Portfolio Details - Investments
June 30, 2023
Purchase
DatePar ValueMarket Value
Stated
Book Value RateS&P
YTM Days to
365 Maturity
Maturity
Date
Treasury Securities - Coupon
91282CAJO UST0041 US TREASURY
91282CAZ4 UST0042 US TREASURY
91282CAB7 UST0043 US TREASURY
91282CAT8 UST0044 US TREASURY
91282CCW9 UST0045 US TREASURY
91282CCP4 UST0046 US TREASURY
91282CCF6 UST0048 US TREASURY
91282CCJ8 UST0049 US TREASURY
91282CCZ2 UST0050 US TREASURY
91282CAM3 UST0052 US TREASURY
91282CDG3 UST0053 US TREASURY
91282CEHO UST0055 US TREASURY
91282CCP4 UST0056 US TREASURY
91282CCZ2 UST0058 US TREASURY
91282CEW7 UST0061 US TREASURY
91282CFB2 UST0063 US TREASURY
91282CFB2 UST0065 US TREASURY
91282CGH8 UST0067 US TREASURY
Subtotal and Average
08/11/2021
08/09/2021
10/05/2021
10/05/2021
10/05/2021
10/05/2021
12/09/2021
12/09/2021
12/09/2021
02/24/2022
04/08/2022
05/16/2022
06/17/2022
06/17/2022
09/01/2022
09/01/2022
12/22/2022
02/09/2023
1,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
43,000,000.00
907,270.00
902,660.00
909,960.00
1,805,000.00
891,880.00
890,900.00
898,240.00
901,020.00
894,690.00
1,811,480.00
899,220.00
959,220.00
890,900.00
894,690.00
961,720.00
942,770.00
942,770.00
1,942,120.00
39,718,990.00
992,069.78
992.979.34
990,759.58
1,976,901.44
992,500.00
991.732.72
987,545.08
990.513.58
989,148.45
1,931,563.91
950,944.94
996,500.00
920,994.76
924,410.65
997,755.04
979,788.81
959,884.27
1,977,621.33
42,035,409.55
0.250
0.375
0.250
0.250
0.750
0.625
0.750
0.875
0.875
0.250
1.125
2.625
0.625
0.875
3.250
2.750
2.750
3.500
0.586
0.658
0.681
0.707
0.907
0.892
1.191
1.176
1.210
1.678
2.581
2.750
3.187
3.302
3.300
3.309
3.787
3.804
1.987
792
883
761
853
1,157
1,126
1,065
1,095
1,187
822
1,218
654
1,126
1,187
1,460
1,491
1,491
1,675
08/31/2025
11/30/2025
07/31/2025
10/31/2025
08/31/2026
07/31/2026
05/31/2026
06/30/2026
09/30/2026
09/30/2025
10/31/2026
04/15/2025
07/31/2026
09/30/2026
06/30/2027
07/31/2027
07/31/2027
01/31/2028
959
Total and Average137,000,000.00131,199,690.00135,056,945.582.607594 Run Date; 07/21/2023-11:19
Portfolio CITY
CP
PM (PRF_PM2) 7.3.11
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City of Manhattan Beach
Investment Portfolio Summary
As of June 30, 202
3 PORTFOLIO PROFILE Jun 30, 2023 May 31, 2023 Apr 30, 2023 Mar 31, 2023 Feb 28, 2023 Total Book Value (Excluding Trust Funds) $135,056,946 $135,978,436 $137,238,776 $127,327,216 $127,327,216 Increase/(Decrease) from Prior Period (921,490) (1,260,341) 9,911,560 - 2,861,273 Percentage Change (0.7%) (0.9%) 7.8% 0.0% 2.3%
Average Yield to Maturity (365 Days) 2.607% 2.522% 2.488% 2.417% 2.353% Increase/(Decrease) from Prior Period 0.085% 0.034% 0.071% 0.063% 0.117%
PORTFOLIO ALLOCATIONS
By Security Value (Par) Percent Par YTM Time Horizon Percent LAIF* $42,000,000 30.66% 3.167% Next 12 months 42%
Medium Term Notes 21,000,000 15.3% 3.156% Months 13-24 17% Federal Agencies 31,000,000 22.6% 2.327% Months 25-36 15% U.S. Treasuries 43,000,000 31.4% 1.987% Months 37-48 16% Total $137,000,000 100.0% 2.605% Months 49-60 10%
*LAIF YTM as of June 30, 2023 BAD Total 100.0%
RECENT ACTIVITY
Security Date of Activity Maturity Date Purchase (Par) Maturing/Call YTM FNMA - 0.75% Coupon 4/14/2023 10/8/2027 1,000,000 3.597% COST - 1.375% Coupon 4/14/2023 6/20/2027 1,000,000 3.743% BK - 3.4% Coupon 4/14/2023 1/29/2028 1,000,000 4.410%
COST - 1.375% Coupon 4/18/2023 6/20/2027 1,000,000 3.765% MRK - 4.05% Coupon 6/12/2023 5/17/2028 1,000,000 4.210% AAPL - 4% Coupon 6/12/2023 5/10/2028 1,000,000 4.171%
WMT - 1.05% Coupon 6/12/2023 9/17/2026 1,000,000 4.361% FHLB - 3% Coupon 6/12/2023 3/12/2027 1,000,000 4.070%
Total Purchases $8,000,00 0 4.041%
Matured: MTN - 2.4% Coupon 5/3/2023 5/3/2023 1,000,000 3.298% Total Maturing/Calls $1,000,000 3.298%
City of Manhattan Beach
Investment Portfolio Summary
As of June 30, 202
3 FUNDS HELD IN TRUST Value
Police/Fire Refunding Bonds $1,308.08
Fire Station 2 COPs 536.87
Marine Avenue Refunding Bonds 1.11
Pension Obligation Bonds 11,215.07
Metlox & Water/Wastewater Refunding Bonds 1,513.01
UUAD Assessment Refunding Bonds 512,323.66
UUAD Assessment District 12 & 14 403,578.84
UUAD Assessment District 4 204,036.73
PARS Investment Trust 2,859,803.11
Total Funds Held in Trust $3,994,316.48
As of June 30, 2023
3‐Month 6 ‐Month 2 ‐Year 5 ‐Year 10 ‐Year
April 2023 5.07% 4.99% 4.02% 3.54% 3.46%
May 2023 5.31% 5.27% 4.13% 3.59% 3.57%
June 2023 5.42% 5.42% 4.64% 3.95% 3.75%
Portfolio 2.607% 2.607% 2.607% 2.607% 2.607%
LAIF 3 167% 3 167% 3 167% 3 167% 3 167%
Portfolio, 2.607%
LAIF, 3.167%
‐0.50%
0.50%
1.50%
2.50%
3.50%
4.50%
5.50%
US Treasuries Yield Curve
www.treas.gov
Monthly yields are interpolated by the Treasury from the daily yield curve.
CITY OF MANHATTAN BEACH HELD TO MATURITY
Portfolio Maturity Structure Rolling 60 Months
July 2023 through June 2028
Mth Mat. YTM Inv Call Amt Mth Mat. YTM Inv Call Amt Mth Mat. YTM Inv Call Amt Mth Mat. YTM Inv Call Amt Mth Mat. YTM Inv Call Amt Jul 23 7/24/23 2.8% FFCB nc $2.0M Jul 24 7/2/24 1.53% FNMA nc $2.0M Jul 25 7/31/25 0.58% T nc $2.0M Jul 26 7/31/26 0.89% T nc $1.0M Jul 27 7/31/27 3.31% T nc $1.0M 7/31/23 2.5% T nc $1.0M 7/2/24 0.26% FNMA nc $1.0M 7/31/25 0.60% T nc $1.0M 7/31/26 3.19% T nc $1.0M 7/31/27 3.79% T nc $1.0M 7/31/25 0.68% T nc $1.0M 7/27/26 4.55% FFCB nc $1.0M
Aug 23 8/31/23 2.4% T nc $1.0M Aug 24 8/15/24 1.47% FHLB nc $1.0M Aug 25 8/31/25 0.62% T nc $1.0M Aug 26 8/31/26 0.91% T nc $1.0M Aug 27 8/15/27 3.75% T nc $1.0M 8/8/23 2.0% MSFT MW:12.5 $1.0M 8/30/24 1.98% DIS 7/30/24 $2.0M 8/31/25 0.59% T nc $1.0M 8/15/26 3.29% T nc $1.0M 8/22/27 4.28% AMZN nc $1.0M 8/16/23 2.0% BK 6/16/23 $1.0M 8/31/24 1.49% T nc $2.0M 8/22/25 1.87% FFCB nc $1.0M Sep 23 9/20/23 3.5% TMC nc $1.0M Sep 24 9/6/24 1.89% KO 9/6/24 $1.0M Sep 25 9/12/25 1.87% FHLB nc $1.0M Sep 26 9/30/26 1.21% T nc $1.0M Sep 27 9/12/27 4.91% AAPL nc $1.0M 9/12/23 0.5% FNMA nc $1.0M 9/13/24 1.77% FHLB nc $2.0M 9/23/25 2.72% FHLM C nc $2.0M 9/30/26 3.30% T nc $1.0M 9/1/27 4.59% JNJ nc $1.0M 9/30/25 1.68% T nc $2.0M 9/17/26 4.18% WMT nc $1.0M 9/1/27 3.88% JNJ nc $1.0M Oct 23 10/18/23 2.6% TMC nc $1.0M Oct 24 10/15/24 1.70% FNMA nc $2.0M Oct 25 10/31/25 0.71% T nc $2.0M Oct 26 10/31/26 2.58% T nc $1.0M Oct 27 10/8/27 3.60% FNMA nc $1.0M 10/15/24 1.50% FNMA nc $2.0M 10/31/26 4.18% T nc $1.0M
10/24/24 1.85% BK 9/6/24 $1.0M
Nov 23 Nov 24 11/18/24 3.25% FFCB nc $1.0M Nov 25 11/30/25 0.66% T nc $1.0M Nov 26 Nov 27 11/1/25 2.89% TVA nc $1.0M
Dec 23 Dec 24 Dec 25 Dec 26 Dec 27
Jan 24 Jan 25 Jan 26 Jan 27 1/31/27 2.67% T
nc $2.0M Jan 28 1/29/28 4.41% BK nc $1.0M
Feb 24 2/29/24 2.2% T nc $1.0M Feb 25 2/28/25 1.00% T nc $1.0M Feb 26 2/24/26 0.95% MRK MW: 10 $1.0M Feb 27 2/6/27 4.16% MSFT nc $1.0M Feb 28 2/14/28 3.85% FAMCA nc $1.0M Mar 24 3/31/24 2.2% T nc $1.0M Mar 25 Mar 26 Mar 27 3/22/27 2.75% FFCB nc $2.0M Mar 28 3/12/27 4.05% FHLB nc $1.0M
Apr 24 Apr 25 4/15/25 2.75% T nc $1.0M Apr 26 Apr 27 Apr 28 May 24 5/16/24 2.6% FFCB nc $2.0M May 25 5/15/25 1.76% TVA nc $1.0M May 26 5/31/26 1.19% T nc $1.0M May 27 5/15/27 3.28% T nc $1.0M May 28 5/17/28 4.21% MRK nc $1.0M 5/31/25 1.06% T nc $1.0M 5/12/26 1.96% AMZN nc $1.0M 5/15/27 3.29% T nc $1.0M 5/10/28 4.17% AAPL nc $1.0M Jun 24 6/14/24 0.3% FHLB nc $1.0M Jun 25 6/30/25 0.56% T nc $1.0M Jun 26 6/30/26 1.18% T nc $1.0M Jun 27 6/20/27 3.74% COST nc $1.0M Jun 28 6/28/24 3.2% FHLB nc $1.0M 6/30/25 0.59% T nc $1.0M 6/12/26 4.34% FHLB nc $1.0M 6/30/27 3.24% T nc $1.0M 6/30/27 3.30% T nc $1.0M
6/20/27 3.76% COST nc $1.0M
Total By Year (excl LAIF) $15.0m $23.0m $21.0m $22.0m $14.0m % of Total Securities (excl LAIF) 16% 24% 22% 23% 15%
% of Total Investments (incl LAIF) 42% 17% 15% 16% 10%
Total Securities 69% $95.0M
LAIF 31% $42.0M
Total Investments 100%
$137.0M
Shaded rows indicate months with significant cash inflows.
City of Manhattan Beach
Investment Policy Compliance Chart
As of June 30, 202
3 Instrument % of Total Limit Compliant? Limit Compliant? Limit Compliant? Local Agency Investment Fund (LAIF) $42,000,000 30.7% $75,000,000 Yes Treasury Securities
US Treasury $43,000,000 31.4% 5 Years Yes
Total U.S. Treasuries (37) TRUE $43,000,000 31.4%
Medium Term (Corporate) Notes
Coca-Cola 1,000,000 0.7% 5.0% Yes 5 Years Yes
Amazon 2,000,000 1.5% 5.0% Yes 5 Years Yes
Costco 2,000,000 1.5% 5.0% Yes 5 Years Yes
Walmart 1,000,000 0.7% 5.0% Yes 5 Years Yes
Total Consumer Goods Sector $6,000,000 4.4% 10.0% Yes
Toyota Motor Credit 2,000,000 1.5% 5.0% Yes 5 Years Yes Bank of NY 3,000,000 2.2% 5.0% Yes 5 Years Yes
Total Financial Sector $5,000,000 3.6% 10.0% Yes
Johnson & Johnson 2,000,000 1.5% 5.0% Yes 5 Years Yes
Merck 2,000,000 1.5% 5.0% Yes 5 Years Yes
Total Pharmaceuticals Sector $4,000,000 2.9% 10.0% Yes
Apple Inc 2,000,000 1.5% 5.0% Yes 5 Years Yes
Microsoft Corp 2,000,000 1.5% 5.0% Yes 5 Years Yes
Total Technology Sector $4,000,000 2.9% 10.0% Yes
Walt Disney Co 2,000,000 1.5% 5.0% Yes 5 Years Yes
Total Communication Services Sector $2,000,000
Total Medium Term Notes (20) TRUE $21,000,000 15.3% 20.0% Yes Federal Agencies
Federal Home Loan Bank (FHLB) $8,000,000 5.8% 33.3% Yes 5 Years Yes Federal Farm Credit (FFCB) 9,000,000 6.6% 33.3% Yes 5 Years Yes Fannie Mae (FNMA) 9,000,000 6.6% 33.3% Yes 5 Years Yes
Freddie Mac (FHLMC) 2,000,000 1.5% 33.3% Yes 5 Years Yes Frarmer Mac (FAMCA) 1,000,000 0.7% 33.3% Yes 5 Years Yes Tennessee Valley Authority (TVA) 2,000,000 1.5% 33.3% Yes 5 Years Yes Total Federal Agencies (23) TRUE $31,000,000 22.6% 60.0% Yes Total Portfolio $137,000,000 100.0%
Dollar Compliance Percentage Compliance Term Compliance Temporary Suspension
Investments Book Value
LAIF $42,000,000.00
Treasury Securities 42,035,409.55
Federal Agency Issues-Coupon 30,783,528.78
Medium Term Notes 20,238,007.25
Subtotal Investments $135,056,945.58
Demand Deposit/Petty Cash
Cash in Bank $11,201,778.61
Petty Cash 2,771.41
$11,204,550.02
Subtotal City Cash & Investments $146,261,495.60
Bond Funds Held in Trust
Police Fire Refunding $1,308.08
Fire Station 2 COPs 536.87
Marine Ave Park Refunding 1.11
Metlox & Water/Wastewater Refunding 1,513.01
Utility Assessment Districts 1,119,939.23
Pension Obligation Bonds 11,215.07
Subtotal Bonds Held in Trust $1,134,513.37
Investment Trust Funds
PARS Pension Rate Stabilization Trust 2,859,803.11
Treasurer's Balance $150,255,812.08
CITY OF MANHATTAN BEACH
TREASURER'S REPORT
June 30, 2023
Subtotal Demand Deposit
June 3.167
May 2.993
April 2.870
March 2.831
February 2.624
January 2.425
PMIA Average Life(1): 275
LAIF Fair Value Factor(1): 0.986510329
PMIA Daily(1): 2.87
PMIA Quarter to Date(1): 2.63
LAIF Apportionment Rate(2): 2.74
LAIF Earnings Ratio(2): 0.00007493902135155
LAIF Administrative Cost(1)*: 0.34
Treasuries
64.47%
Agencies
20.37%
Certificates of
Deposit/Bank Notes
6.96%
Time
Deposits
2.89%
Commercial
Paper
4.87%
Corporate
Bonds
0.25%
Loans
0.19%
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). *The percentage of administrative cost equals the total administrative cost divided by the quarterly interest earnings. The law provides that administrative costs are not to exceed 5% of quarterly EARNINGS of the fund. However, if the 13-week Daily Treasury Bill Rate on the last day of the fiscal year is below 1%, then administrative costs shall not exceed 8% of quarterly EARNINGS of the fund for the subsequent fiscal year.
Source:
(1) State of California, Office of the Treasurer
(2) State of Calfiornia, Office of the Controller
PMIA Average Monthly
Effective Yields(1)
PMIA/LAIF Performance Report
as of 07/05/23
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 03/31/23
Chart does not include $2,938,000.00 in mortgages, which equates to 0.002%. Percentages may not total 100% due to rounding.
Pooled Money Investment Account
Monthly Portfolio Composition (1)
05/31/23
$179.6 billion