INVESTMENT PORTFOLIO SUMMARY REPORT

Transcription

1

2 INVESTMENT PORTFOLIO SUMMARY REPORT ESCAMBIA COUNTY BOARD OF COUNTY COMMISSIONERS INVESTMENT PORTFOLIO SUMMARY REPORT Prepared by: Pam Childers Clerk of the Circuit Court & Comptroller First Judicial Circuit, Escambia County

3 INVESTMENT PORTFOLIO SUMMARY REPORT INVESTMENT PORTFOLIO COMPOSITION SHORT TERM AND LONG TERM CORE PORTFOLIO PERFORMANCE STATISTICS Market Value SUMMARY OF INVESTMENT ALLOCATION December 31, 2013 SHORT TERM PORTFOLIO: December 31, 2013 Bank Accounts $ 28,710,019 $ 23,358,134 Market Value $ 145,721,558 $ 140,386,479 Money Market Accounts 24,854,236 24,858,938 State Board of Administration 92,157,303 92,169,406 Money Market Mutual Fund 698,553 89,268 Short Term Portfolio Yield: 0.15% 0.15% U.S. Treasury Bond/Notes 29,388,069 51,313,561 Benchmark: S&P GIP Index 30 Day Gross of Fees Yield: 0.03% 0.02% Federal Agency Bond/Note 47,611,079 32,485,580 Municipal Bonds 8,249,461 2,563,013 Weighted Average Days to Maturity Corporate Notes 19,423,070 19,458,707 Short Term Portfolio Yield: 1 Day 1 Day Commercial Paper - - Benchmark: S&P GIP Index 30 Day Gross of Fees Yield: 50 Days 49 Days Total Portfolio Assets: $ 251,091,790 $ 246,296,608 Fiscal YTD Earnings: $ 32,062 $ 48,868 Current Month Earnings: $ 109,230 $ 445,668 LONG TERM CORE PORTFOLIO: December 31, 2013 Fiscal Year to Date Earnings: $ 569,930 $ 1,015,599 Market Value $ 105,370,232 $ 105,910,129 CORE Portfolio Yield to Maturity at Cost: 1.00% 0.82% CORE Portfolio Yield to Maturity at Market: 0.80% 0.69% Benchmark Merrill Lynch 1-3 Year U.S. Treasury Index: 0.38% 0.34% Benchmark Merrill Lynch 1-5 Year U.S. Treasury Index: 0.74% 0.65% Monthly Total Return Performance CORE Portfolio -0.38% 0.44% Benchmark Merrill Lynch 1-3 Year U.S. Treasury Index: -0.14% 0.16% Benchmark Merrill Lynch 1-5 Year U.S. Treasury Index: -0.48% 0.43% Effective Duration (Years) CORE Portfolio Benchmark Merrill Lynch 1-3 Year U.S. Treasury Index: Benchmark Merrill Lynch 1-5 Year U.S. Treasury Index: Fiscal YTD Earnings: $ 537,868 $ 966,730 Prepared by the Clerk of the Circuit Court and Comptroller Page 1

4 INVESTMENT PORTFOLIO REPORT SHORT TERM INVESTMENT PORTFOLIO: Earnings Short Term Portfolio Yield: 0.15% Current Month Earnings: $ 16,806 Benchmark: S&P GIP Index 30 Day Gross of Fees Yield 0.02% Year-to-Date Earnings: $ 48,868 PORTFOLIO COMPOSITION DISTRIBUTION & CREDIT QUALITY: Investment Type Market Value Percent Allocation Bank of America Checking Account $ 23,358, % BB&T Money Market Account 9,785, % Servisfirst Money Market Account 15,073, % State Board of Administration 92,169, % Bank Deposits 34.3% Short Term Portfolio Credit Quality Total Short Term Portfolio Assets: $ 140,386, % AAAm 65.7% LONG TERM INVESTMENT PORTFOLIO: Earnings CORE Portfolio Yield to Maturity at Cost: 0.82% Current Month Earnings: $ 428,862 Benchmark Merrill Lynch 1-3 Year U.S. Treasury Index: 0.34% Year-to-Date Earnings: $ 966,730 Benchmark Merrill Lynch 1-5 Year U.S. Treasury Index: 0.65% PORTFOLIO COMPOSITION DISTRIBUTION & CREDIT QUALITY: Investment Type Market Value Percent Allocation U.S. Treasury Bond / Note $ 51,313, % Federal Agency Bond / Note 32,485, % Municipal Obligations 2,563, % Corporate Note 19,458, % Money Market Mutual Fund - Federated Government 89, % Total Long Term Core Portfolio Assets: $ 105,910, % AA 0.0% AA- 2.6% Long Term Core Portfolio Credit Quality A+ 5.5% A 6.5% A- 0.7% AAA 1.4% AA+ 83.4% Prepared by the Clerk of the Circuit Court and Comptroller Page 2

5 INVESTMENT POLICY COMPLIANCE REPORT Security Type Market Value Percent Allocation Permitted by Policy In Compliance Florida Prime (SBA) $ 92,169, % 25% No United States Treasury Securities 51,313, % 100% Yes Federal Instrumentalities 32,485, % 100% Yes Certificates of Deposit/ Savings Accounts 24,858, % 20% Yes Corporate Notes 19,458, % 20% Yes State and/or Local Government Debt 2,563, % 25% Yes Bank Accounts - Bank of America 23,358, % 100% Yes Money Market Mutual Fund 89, % 50% Yes Total Investment Holdings $ 246,296, % Individual Issuer Breakdown Market Value Percent Allocation Permitted by Policy In Compliance Florida Prime (SBA) $ 92,169, % 25% No United States Treasury Securities 51,313, % 100% Yes Federal Home Loan Bank (FHLB) 2,598, % 25% Yes Federal National Mortgage Association (FNMA) 23,456, % 25% Yes Federal Home Loan Mortgage Corporation (FHLMC) 6,430, % 25% Yes Branch Banking and Trust Money Market Account 9,785, % 10% Yes Servisfirst Money Market Account 15,073, % 10% Yes American Honda Finance 903, % 5% Yes Anheuser-Busch Corporate Notes 2,010, % 5% Yes Apple Inc. Corporate Notes 1,126, % 5% Yes Bank of New York Mellon Corporate Notes 2,764, % 5% Yes Caterpillar Corporate Notes 700, % 5% Yes Coca-Cola Company 579, % 5% Yes General Electric Corporate Notes 3,288, % 5% Yes JP Morgan Chase Corporate Notes 3,012, % 5% Yes McDonald's Corporate Notes 1,107, % 5% Yes Pepsico Corporate Notes 700, % 5% Yes Toyota Corporate Notes 1,103, % 5% Yes Wells Fargo &Company Corporate Notes 2,160, % 5% Yes Michigan State Municipal Bond 1,055, % 10% Yes Calleguas Water District, CA REV Bond 1,507, % 10% Yes Pennsylvania State Municipal Bond - 0.0% 10% Yes Money Market Mutual Fund - Federated Government 89, % 25% Yes Bank Accounts - Bank of America 23,358, % 100% Yes Total Investment Holdings $ 246,296, % Prepared by the Clerk of the Circuit Court and Comptroller Page 4