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HomeMy WebLinkAboutJoint Study Session Investment Advisory Board - Huntington B � 4 a a az� � a! tee. a � e, IN T ssI INV ESTMENT A l o eBe"%AR-D/ ......... UNTINGT N EACH Cl'CITE" CeUNeII.� FFebru."..ry 3, 2 '14 City T- �s Cutche FI a y 7� 4 CITY of HUNTINGTON BEACH sty s' NIL, 3�x Cprrvv` Investt �men Advisor Board: r' V f p� • Created May, 1995 by Resolution >5 • Created to act in an advisory �r r�4 r}� capacity to City Council and City Treasurer in matters pertaining to �{ the City's investments i4 Y ,JJ R p t . th'N t 1 INVESTMENT ADVISORY BOARD MEMBERS: g ® FY 2012-13, Members were as follows: ` • D avid E atch - - App0inted by Joe Carchio ,r z 7 • Valerie Dickerson - - App0inted by Matthew Harper ro4 (Resigned April 2013) '� • Angela Rainsber er - - App0inted by Joe Shaw (Resigned April 2013) x x < Y b { T a • Rob Sternberg - - Appointed by Jim Katapodisida t r r • Lyn Semeta - - Appointed by Dave Sullivan r . 9 t is i. .s . INVESTMENT ADVlSoRvL BOARD MEMBERS: o NEW Member for FY 2013-14: o ® Rochelle Ruth - - Appointed by Connie Boardman i FS,��tv4y t { 41 A t. e�. i } �x i i f: M1 V4� 35x h t {J� fK� 1 i „ s rf 't 'r �r INVESTMENT ADVISORY BOARD MEETINGS u eetln s are held qu4 r Fk o Open to te public per the Brown Act t° t z oMeeting dates for FY 2012- 13 ® = tN ®October 18 2012 x oJanuary 17 2013 oA ri l 18, 2013 EE oJuly 18, 2013 f�r s � � k fr � � T INVESTMENT Aly)vISOR,Y EO%ARD � r . o Annual -Report 10/1/ 2 t0 9/30/13 ® Over this period, the IAA reviewed the g following: Z fi � f f AA ®Quarterly Investment Reports e F11::" zy o Cit 's Investment Policyandy N MI Corn liance — No exceptions p identiffied s COnfir ed Liquidity Availability �f 4, i f E kit, ff �� INV] 5 TMENT ATU,vTsoTny o Annual Revport 10/1/12 t0 /30/13 con.t. ` £ s. o Objectives : Safety, Liquidity, 3� Market Yield r a ry: E � a° S: t , k�y oA ro riate New Investments ourr e nt n nomi e/ Cent events and c ��� ........ market conditions N, { � r � r (k S.,i S ti4 S yBOA k dG t P K INVERTME"INT AlrjwiSoRy BOARM r f1 Y? x o Conclusions: Y u S ® u i t Treasurer has adhered to � d� S governmental re ulations, and a� s � �i a ® Maintained and followedV yyA Investment Policy Statement F r�a f4 guidelines and criteria: o Safety o Li uidit Y � Y } o arket Rate of Return t s b3 Hun ffnng, on Boach date , r;�fi �`5, •"k "Ni ° 4v.40 .7.°fE- o., o ° '� ., ., ° �N° ., n ° � c0.9 ° ° �• ° F.�Fv- >�Yf,.� do•w u x c „�w' �1"P a�w a ��°' ° °^P° ' `�' °4 mRa+a.." ° ° °d '.5° "-a @ .F° _ mG''kP p�+ �„� ,'�._ N �..�. �°'i�F� Vie.,, • ^ �, '" -°'`°^��� ��° — IN, ')i },� X w� G� s �4 r�'a 5t e {JXryf '' I 1 'ot be w'' s att 5 i P5l. 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N ��{y 1��y■■�y�.�P yy� �y�Y■��lYp# t y�y YIl�STI MYli M1FtfiY7 �A4I6r 20.37 Bic] OAS(bp) 14. 18 VtLXi �"',_.; e.aa 7.00 Yrs a.o� o.aw"' a.aam '` �: d t,�.i■,�Cfit p5''y/� p pU-�, dN ty�"� �i �(►/�,Q�f ',`p,�.�C �T s:^vryfQ,t x.r c '4 e :}�:y�,�/ �. kar. ? l YL!y,j t1";L7 ►!{/�'d lYi,r.rft 01, 8.00 9Iry0 y yf31�yy Y�r s 0.0,1ry(Y�XyII p� l 9 yl,yY�����yX f�� a W1116 / 1 is I,iU.1,YU d� _.:s,�,,i 'YN Wl! ;_!,i4,s'vP 4,1 Ll7`B arT� 10.00 go.00 Yrs 0.00r6 0,0Nte, 0.oft Maturity Portfolio Plan � Variance 9 S di _' ... ..�6 535o._ o t � y � aa ' ,a !a a t a Portfolio Plan: Vacl a a ame, 7,00 = 10.00 `!rs 0.006, 0,00%; 0.0 % Cash,jMM 26.416% - 13.00% 13.46,% }:Y,r 7 nr ,°in a °.>i s;`'a 'o ,< r"ki tiff`� o t►;a t�„ R S Treasury 10.00°� 10,yy,,��``yy��,0ryy"t�° 15,00 20.00 Yrs� b 0W6 0 N 0%, Q.0W1.1 � �Rn US .1 �!C? 'Y ldad �ra �0 OCl" 4iJQ° .,� t, r US Agency Stillets: US Corporates 17.83% 20.00% (2. 17x"::") Other 0.0W 0.0 ' 0.00��, aIFE Executive SumMary: Hunti-noton Beach 12/311/13: Portfolio as, of 12/31/13 Par(5000)-204,961,51; Mk t JOU000)=204,520-38; PYI&i-or.656: E(Iuvwi.81; RAtjng=AA1, Amork Gain/(LiOssk=(1,229,931.98) Structure Breakdown Issuer Breakdown Cash, 2&M, US Tsy: 0.0%; US Agy, 5�5.7%, Corp., 17.9% WMT:1120% AAPL PEP: L2%'1, 5 IRRK: G,7,L, PyId-0-88 OXY: LWO ,'prtm Eda F,I 1.2 CASf 1: 2 F, -2 AN Alfl.�71�4'14-.:IQR A. A, NO:OA t fduro,00 v rd'mr-2 70 Agy ,CAT 2,5V IRS% Pyl d,(j,4 4, erg Ed:u 1'�'1A 7 Agy S1 L rft;l IWA� Flyldl:0.87 AgyCffil lm!:7 2% -dur2.70 PYI&O86 75%- 7.0% Aq�Cllhl A,gvflbt ............ RILIMC: 6_5% A myl ime:4'01'1, PyId:0.90 Edtlur 1,54 BRK� f*L756 ln�CASH, 26,,Ijl,'% CAT:2,5',Ii 60% Ed'tw,2,72 2:A A L 'i lo,,X, `3 DE.-2,55; TIO FF-CB:2AW; ta MIR 5.8 INFEILMC: 14.6% SCY MMA: 32'.T� GE, M!Omy 1,s% 4 prp: 1,2%, WMT: 1.511 45% Comnosite ftating Breakdown 4 G% A2.7,6'5% ......................... Pylld.0$6 3Cft 7-7,111- ....... if Not Rated:27AM 2S% AA!-.0,68% PyId.,0.17 139 g� PYI& Edurl0,00 20% Eder:140 t 9 F YrsToMatj'Edttr Distribution 2P TO 9% .4 rdw Percent L ....................... AAL 6.2 6% g's Edur3.36 Licto idlilvhto n Ito( Ej Pr I on im V El Smconhq Ij InVet ttd AAA-1 S 0.8,6 '1 bo - ".1.00 Vr Md.GA 4 Edur.2L I 2,00- 3,00 Yrs- FIN 1.00-4,00 Yrs 4 A0- SAO yr m Huntington search Ourai,tlon Drift Analysis as of 12/31113 2.27 2.2s 2.23 2. 3 .................,.......... 2.00 - ' 'IITy..h,Ih'Th`�x�.«T,./TI I..iIh«.byrh4.ir"•� tt•... i.7S r N 134 1.44 ,T i ra 1.3' v] 1,25 1 21 . +r 1.06 + } �,.► �a 1.00 t# .►� � dv� • 0,75 4' .p4 �y �}{1i..l n .1 w 4o N W`M N s r Ni 0.2:5 0 g�L, 0.00 - - - -- down '10A down S4 unchanged Up 50 Up 100 Up 200 Rare Scenario ONIn Horizon 3N(a Horizon « Wo i-loriz©n Wo Harizon -0- 12Mo Morvon 1 ,i1 v 06/30/13 Tsyl0YrYld Forecasts by Survey Date Survey Date 4.75 4.50 4,25 � � r i • i 4„00 r M • i �► • +� a 3w75 i i 3.2 5 ;3.Qg 3.03 --- ��lr1! ' � � o y2f11 2.$9 02112 2.99 � ISO � # 100 i01112 9 �01112 114,111 M O.8] 0LD 5 2.75 � � � � +� 2.50 2 m54 �y, ; '� • � i i N �! • 06t12 5„„�' i �' �I AY • i 07�12 2.25 • i 0s,P12 Ogg1z 10l12 1� ; 2,03 2.Q4 2.11 # 2.1L + a e aw i �, �,�� n�rl 02.113 01g13 2,l}0 1.9� i n�ri L2,r12 UAp'!3 inUS 1„75 i 1.50 !M' 1..2 5 `, it...• :,, ]�1 �,°e� w.� a... �' ,� ' y e,•.d 3 ut - :;�-+ „,•Y"a � .:�;, ,�: ,I,'V EI � � �, "«.,,,< �Y'� � f. .gib s �. ., .. •:A... ��+:.'4 pi'f+d .,-„� '�] Ias�� � ..,� `. '.-� rn• �:F,y 9 f .?: ]P] �' Y^S "i V� F]'�,f :: ., 'I} '4 of dA' n,� .�- f, � �`..; fi�yr,, ., � '� .. ,,..., A r., rk ,,:. cl E.:, ,.I r'��4, si { •.�, [ n�;'ih, ; {� tpa'� I r. ''� }11. � :`�.:' �d 4.; �S'^w: *2:, ,{.t„ ar i i• ,r '�< ,.Is r.h[ �, � ��- l yi: �`� t�,: " �� - £ - k'r".,�•4.,a.V,...�, � � :y::_ �,a lrt� �. k 1b;r.;. ,: ,; .. �,,. t .•- i, S1r- � t ,,� Ill �,� .:,� � + .�� � ,5 -� ?+ j'�. «< r A MIr r w � * money: 54 A it Report, ug r vl,:.f: G _; ➢f - n - I A , � :�i ii. U., ',', Gross ), f it TI � r I s �I' +I _ I e I day, March 9 .6pm By. Dan Weil o '� r -- Trieasurys in 'his !talest market commentary and remarks to the media. d { 4 according to a report on ZerolIedge-com, he acted on this bearishness in January selling alt of holdings ■'s Total Return II largest „ •. "-1._3. 1,1: Char ffIo•e 33, !rI' F p 64 rID "I T III� 113 . 1,4S 0 . ",01141-1 C.1 9 6 . 57,5191 , 1-0. aft LF;At' ,t— i f 1 ."-1 `601, t•. a � 4 r :r a �.�t, t t:I �',,r� e„�: t W C b:... �.. 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Tt;,..,,...,w1��i<✓.,+, Y'i..5* �i,.,wm..1:Gx,a;�s n:-_F.,.. ,....:,n..:.«„.r,h. ,:.'—_mot•- ...,:..0 ..:__e�.,._.,,„8 .. �.. .,. xP. ;#' ,,,, .., >! }} , ,.T-}�., S �, 7 � 1 t 5 ' r � t i Z Y V Y rrY f a::• r f { k r 5 r - r r .i �aNL'Y;4i.. .� t - 7, -.y ,t..:}, i., )+ir:, - a�'..�`- •:}'r-'E:> w. 4`: �' _ �-; -+. v F` tii y. ,:;-'a r,:� a .4'+ .�* '.:k:.` Wine, Linda From: Cutchen, Alisa Sent: Thursday, January 16, 2014 3:12 PM To: Wine, Linda Subject: Fwd: Preliminary Slides for IAB Study Session with Council February 3, 2014 Attachments: HB 2014 Council Presentation.pdf; ATT00001.htm Categories: IAB, City Council If possible, please print out 5 copies of this. B&W 2-sided if fine. Thx so much, Alisa Begin forwarded message: From: "Klinghoffer, Jason" <JKlinghoffer ,cantor.com> )[Date: January 16,2014, 2:29:31 PM PST To: Alisa Cutchen<alisa.cutchennsurfci -hb.org> Subject: Preliminary Slides Alisa: Here are the slides for the council presentation. Keep in mind we may change a few things up to make sure it flows but this should be the basics. Please let me know if you need anything further. Jason Klinghoffer Cantor Fitzgerald Debt Capital Markets Jklin hg offergcantor.com (800)707-8876—Office (913)244-7101 - Mobile CONFIDENTIAL:This e-mail, including its contents and attachments, if any, are confidential. If you are not the named recipient please notify the sender and immediately delete it. You may not disseminate, distribute, or forward this e-mail message or disclose its contents to anybody else. Copyright and any other intellectual property rights in its contents are the sole property of Cantor Fitzgerald and its affiliates. E-mail transmission cannot be guaranteed to be secure or error-free.The sender therefore does not accept liability for any errors or omissions in the contents of this message, which arise as a result of e- mail transmission. If verification is required please request a hard-copy version. 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