1 INVESTMENT PORTFOLIO MANAGEMENT SERVICES. 2 INVESTMENT PORTFOLIO City’s portfolio totals - $270,351,000 (as of May 31, 2007) Until Purchasing Agent.

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Presentation transcript:

1 INVESTMENT PORTFOLIO MANAGEMENT SERVICES

2 INVESTMENT PORTFOLIO City’s portfolio totals - $270,351,000 (as of May 31, 2007) Until Purchasing Agent retirement in December 2007, portfolio was managed on a part-time basis Significant resources are needed to actively manage a large portfolio and achieve optimum returns

3 In-House Challenges Recruiting and retaining qualified staff to provide in-house investment expertise Making use of staff expertise without compromising focus on investments Back-up of investment officer (vacations, vacancies) Support systems for investment decision making are expensive

4 Benefits the City Receives by Outsourcing Investment Portfolio Management Continuity of program regardless of staffing or personnel changes More cost-effective to buy expertise, rather than acquire and maintain it Access to market resources such as Bloomberg, Trade Web, and Proprietary optimization models

5 Benefits the City Receives by Outsourcing Investment Portfolio Management Comprehensive portfolio accounting and reporting Leverage portfolio management firm’s investment in systems Opportunity to increase earnings (improved access to information and decision-making) Staff education and training

6 IN-HOUSE MANAGEMENT Minimum $150,000/year staffing and support system costs Minimum $150,000/year staffing and support system costs EXTERNAL PORFOLIO MANAGEMENT Approximately $124,000/year offset by improved returns and reduced City resources Approximately $124,000/year offset by improved returns and reduced City resources COST OF ALTERNATIVE INVESTMENT MANAGEMENT STRUCTURES

7 Recommendation Adopt a resolution approving a contract for Investment Portfolio Management services with Chandler Asset Management