02-05-2019 - AGENDA ITEM 02 CITY INVESTMENT REPORT FOR THE MONTH ENDED NOVEMBER 30, 2018AGENDA ITEM NO.2
AGENDA STAFF REPORT
City of West Covina I Office of the City Manager
DATE: February 5, 2019
TO: Mayor and City Council
FROM: Chris Freeland
City Manager
SUBJECT: CITY INVESTMENT REPORT FOR THE MONTH ENDED NOVEMBER 30, 2018
RECOMMENDATION:
It is recommended that the City Council receive and file the Investment Report for the month ended November
30, 2018.
DISCUSSION:
The Investment Report (Attachment No. 1) presents the City's cash and investments for the month ended
November 30, 2018. This report is in compliance with California Government Code Section 53646 regarding
the reporting of detailed information on all securities, investments, and monies of the City, as well as, reporting
of the market value of the investments held. All of the investments contained within the portfolio are in full
compliance with Government Code Section 53601 and the City's Investment Policy as to the types of
investments allowed. The City's Investment Policy was last revised and adopted by City Council on June 5,
2018. As stated in the attached report, there are sufficient funds to meet the budgeted expenditures over the
next six months.
The City's Investment Policy has set primary goals of the portfolio management of safety, liquidity and yield.
The City's surplus funds are with the Los Angeles County Investment Pool (LACIP) and Chandler Asset
Management. At November 30, 2018, the City's investment portfolio had a market value of $34,525,650.
Bond reserves are held and invested by a Trustee. The investment of these funds is governed by an investment
policy approved by the City Council as a part of the governing documents for each specific bond issue. At
November 30, 2018, the City's bond reserves had a market value of $1,656,372.
Prepared by: Todd H. Owens, Accounting Manager
Additional Approval: Marcie Medina, Finance Director
Fiscal Impact
FISCAL IMPACT:
No Fiscal Impact.
Attachments
November 2018 Investment Report
City of West
Covina short Term
Holdings Report
Account #10479
As of November
30, 2018
US CORPORATE
Security Description
Par Value/Units
Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
DurationCUSIP
91159HHH6
US Bancorp Callable Note Cont
500,000.00
07/12/2016
512,145.00
99.67
498,362.50
2.14%
Al / A+
0.40
3/25/2019
1.31%
501,736.72
3.02%
1,100.00
(3,374.22)
AA-
0.40
2.2% Due 4/25/2019
037833AQ3
Apple Inc Note
250,000.00
07/11/2016
257,300.00
99.71
249,267.00
1.07%
Aa1/AA+
0.43
2.1% Due 5/6/2019
1.04%
251,109.94
2.78%
364.58
(1,842.94)
NR
0.43
594918BN3
Microsoft Note
410,000.00
08/01/2016
409,577.70
98.81
405,139.86
1.74%
Aaa/AAA
0.69
1.1% Due 8/8/2019
1.14%
409,903.58
2.85%
1,415.64
(4,763.72)
AA+
0.68
084664CKS
Berkshire Hathaway Note
205,000.00
08/08/2016
204,801.15
98.90
202,742.95
0.87%
Aa2/AA
0.71
1.3% Due 8/15/2019
1.33%
204,953.33
2.88%
784.69
(2,210.38)
A+
0.70
06406HCW7
Bank of New York Callable Note Cont
500,000.00
Various
514,405.00
99.40
496,993.50
2.14%
Al/A
0.78
8/11/2019
1.36%
503,582.78
3.08%
2,555.56
(6,589.28)
AA-
0.76
2.3% Due 9/11/2019
68389XAX3
Oracle Corp Note
250,000.00
08/09/2016
257,177.50
99.48
248,695.25
1.07%
Al/AA-
0.85
2.25% Due 10/8/2019
1.32%
251,937.68
2.87%
828.13
(3,242.43)
A
0.84
46625HKA7
1P Morgan Chase Callable Note Cont
445,000.00
08/26/2016
451,363.50
98.79
439,634.64
1.90%
A2/A-
1.15
12/23/2019
1.81%
447,145.12
3.33%
3,560.00
(7,510.48)
AA-
1.11
2.25% Due 1/23/2020
94974BGF1
Wells Fargo Corp Note
250,000.00
07/15/2016
254,060.00
98.68
246,693.50
1.06%
A2 / A-
1.17
2.15%Due 1/30/2020
1.67%
251,338.63
3.31%
1,806.60
(4,645.13)
A+
1.13
22160KAGO
Costco Wholesale Corp Note
150,000.00
11/01/2016
150,873.00
98.31
147,470.70
0.63%
Aa3/A+
1.21
1.75%Due 2/15/2020
1.57%
150,321.36
3.18%
772.92
(2,850.66)
A+
1.18
747525ADS
Qualcomm Inc Note
500,000.00
07/26/2016
513,955.00
98.36
491,820.00
2.11%
A2/A-
1.47
2.25% Due 5/20/2020
1.49%
505,377.34
3.40%
343.76
(13,557.34)
NR
1.43
437076BQ4
Home Depot Note
90,000.00
05/24/2017
89,947.80
98.05
88,242.75
0.38%
A2/A
1.52
1.8% Due 6/5/2020
1.82%
89,973.71
3.13%
792.00
(1,730.96)
A
1.46
00440EAT4
Chubb INA Holdings Inc Callable Note
390,000.00
02/06/2017
391,836.90
98.03
382,314.66
1.64%
A3 / A
1.93
Cont 10/3/2020
2.17%
390,947.43
3.37%
697.67
(8,632.77)
A
1.86
2.3% Due 11/3/2020
44932HAG8
IBM Credit Corp Note
250,000.00
02/14/2018
248,662.50
98.38
245,954.25
1.06%
Al/A
2.19
2.65% Due 2/5/2021
2.84%
249,017.52
3.43%
2,134.72
(3,063.27)
A
2.08
037833B58
Apple Inc Callable Note Cont 1/23/2021
250,000.00
08/19/2016
257,375.00
98.02
245,045.50
1.05%
Aal/AA+
2.24
2.25% Due 2/23/2021
1.57%
253,656.10
3.18%
1,531.25
(8,610.60)
NR
2.14
Chandler Asset Management- CONFIDENTIAL Page 6 Execution Time: 12/3/201810:12:14 PM
City of West
Covina Short Term
Holdings Report
Account #10479
As of November 30, 2018
US CORPORATE
Security Description
Par Value/Units
Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
DurationCUSIP
30231GAV4
Exxon Mobil Corp Callable Note Cont
250,000.00
07/11/2016
258,810.00
97.73
244,314.00
1.05%
Aaa / AA+
2.25
2/1/2021
1.43%
254,277.36
3.28%
1,388.75
(9,963.36)
NR
2.16
2.222% Due 3/1/2021
166764BG4
Chevron Corp Callable Note Cont
250,000.00
08/16/2016
255,022.50
97.22
243,040.25
1.04%
Aa2 / AA-
2.46
4/15/2021
1.66%
252,602.65
3.29%
218.75
(9,562.40)
NR
2.37
2.1% Due 5/16/2021
857477AV5
State Street Bank Note
250,000.00
08/26/2016
252,750.00
96.54
241,351.50
1.03%
Al / A
2.47
1.95%Due 5/19/2021
1.71%
251,437.28
3.42%
162.50
(10,085.78)
AA-
2.38
594918BPS
Microsoft Callable Note Cont 7/8/21
200,000.00
08/26/2016
199,536.00
96.12
192,244.60
0.83%
Aaa / AAA
2.69
1.55%Due 8/8/2021
1.60%
199,747.54
3.06%
973.06
(7,502.94)
AA+
2.59
69371RN44
Paccar Financial Corp Note
225,000.00
01/25/2017
216,153.00
95.64
215,183.70
0.93%
Al / A+
2.70
1.65%Due 8/11/2021
2.57%
219,736.73
3.35%
1,134.38
(4,553.03)
NR
2.59
69353RFE3
PNC Bank Callable Note Cont 6/28/2022
250,000.00
07/25/2017
249,977.50
95.78
239,458.50
1.03%
A2/A
3.66
2.45% Due 7/28/2022
2.45%
249,983.55
3.69%
2,092.71
(10,525.05)
A+
3.43
6,965,589.05
6,761,669.61
29.04%
Al / AA-
1.33
Total US Corporate
6,865,000.00
1.58%
6,890,916.60
3.13%
29,004.17
(129,246.99)
A+
1.28
US TREASURY
i A_
i
912828023
US Treasury Note
375,000.00
12/14/2016
377,594.03
99.63
373,623.00
1.60%
Aaa /AA+
0.41
1.625%Due 4/30/2019
1.33%
375,449.31
2.51%
521.84
(1,826.31)
AAA
0.41
912828WS5
US Treasury Note
375,000.00
07/20/2016
383,497.35
99.44
372,905.25
1.61%
Aaa /AA+
0.58
1.625% Due 6/30/2019
0.84%
376,669.40
2.59%
2,550.10
(3,764.15)
AAA
0.57
912828G95
US Treasury Note
750,000.00
07/25/2016
766,848.22
98.79
740,918.26
3.19%
Aaa / AA+
1.08
1.625%Due 12/31/2019
0.96%
755,311.30
2.77%
5,100.20
(14,393.04)
AAA
1.06
912828UL2
US Treasury Note
375,000.00
08/05/2016
380,992.47
98.41
369,052.88
1.59%
Aaa /AA+
1.17
1.375% Due 1/31/2020
0.91%
377,008.49
2.76%
1,723.42
(7,955.61)
AAA
1.14
91282SUVO
US Treasury Note
375,000.00
08/05/2016
377,799.11
97.84
366,899.25
1.57%
Aaa /AA+
1.33
1.125% Due 3/31/2020
0.92%
376,022.06
2.79%
718.58
(9,122.81)
AAA
1.31
91282SK58
US Treasury Note
225,000.00
06/27/2017
224,113.06
98.04
220,596.75
0.94%
Aaa /AA+
1.42
1.375% Due 4/30/2020
1.52%
224,558.67
2.79%
264.93
(3,961.92)
AAA
1.39
912828VF4
US Treasury Note
375,000.00
08/05/2016
380,391.88
97.90
367,133.63
1.57%
Aaa /AA+
1.50
1.375% Due 5/31/2020
0.99%
377,118.79
2.81%
14.17
(9,985.16)
AAA
1.47
Chandler Asset Management-
CONFIDENTIAL
Page 7
Execution Time:
12/3/201810:12:14 PM
City of West Covina Short Term Holdings Report
Account #10479 As of November 30, 2018
CUSIP Security Description Par Value/Units Purchase Date Cost Value Mkt Price Market Value % of Port. Moody/S&P Maturity
Book Yield Book Value Mkt YTM Accrued Int. Gain/Loss Fitch Duration
US TREASURY
91282SL99 US Treasury Note 250,000.00 12/14/2016 246,319.20 97.30 243,261.75 1.04% Aaa /AA+ 1.92
1.375%Due 10/31/2020 1.77% 248,180.40 2.83% 294.37 (4,918.65) AAA 1.87
91282SN48
US Treasury Note
250,000.00
01/24/2018
246,796.88
97.89
244,716.75
1.05%
Aaa / AA+
2.09
1.75% Due 12/31/2020
2.20%
247,724.02
2.80%
1,830.84
(3,007.27)
AAA
2.01
91282SN89
US Treasury Note
375,000.00
08/11/2016
380,054.97
96.98
363,662.25
1.56%
Aaa / AA+
2.17
1.375% Due 1/31/2021
1.07%
377,451.64
2.82%
1,723.42
(13,789.39)
AAA
2.10
91282SP87
US Treasury Note
350,000.00
06/27/2017
343,397.66
96.33
337,162.00
1.45%
Aaa /AA+
2.25
1.125% Due 2/28/2021
1.66%
345,962.77
2.82%
1,000.69
(8,800.77)
AAA
2.19
912828WN6
US Treasury Note
750,000.00
Various
766,555.25
98.00
735,029.26
3.14%
Aaa /AA+
2.50
2% Due 5/31/2021
1.51%
758,839.13
2.83%
41.20
(23,809.87)
AAA
2.42
91282SS76
US Treasury Note
250,000.00
05/30/2017
244,366.07
95.64
239,101.50
1.03%
Aaa /AA+
2.67
1.125%Due 7/31/2021
1.69%
246,398.28
2.83%
940.05
(7,296.78)
AAA
2.59
912828G87
US Treasury Note
165,000.00
06/29/2017
167,307.98
97.91
161,551.83
0.70%
Aaa /AA+
3.09
2.125% Due 12/31/2021
1.80%
166,579.81
2.84%
1,467.29
(5,027.98)
AAA
2.93
912828V72
US Treasury Note
200,000.00
07/25/2017
200,492.86
97.09
194,171.80
0.84%
Aaa /AA+
3.17
1.875% Due 1/31/2022
1.82%
200,345.60
2.84%
1,253.40
(6,173.80)
AAA
3.03
912828/43
US Treasury Note
355,000.00
03/13/2017
348,580.68
96.63
343,018.75
1.47%
Aaa / AA+
3.25
1.75%Due 2/28/2022
2.14%
350,799.62
2.84%
1,578.87
(7,780.87)
AAA
3.11
912828XGO
US Treasury Note
365,000.00
08/15/2017
370,176.81
97.52
355,960.41
1.54%
Aaa /AA-
3.58
2.125% Due 6/30/2022
1.82%
368,805.45
2.86%
3,245.82
(12,845.04)
AAA
3.39
6,205,284.48
6,028,765.32
25.89%
Aaa / AA+
1.90
Total US Treasury
6,160,000.00
1.38%
6,173,224.74
2.78%
24,269.19
(144,459.42)
AAA
1.84
23,941,616.60
23,282,434.08
100.00%
Aal / AA
1.67
TOTAL PORTFOLIO
23,723,777.98
1.44%
23,785,687.90
2.90%
97,865.70
(503,253.82)
AAA
1.56
TOTAL MARKET
VALUE PLUS ACCRUED
23,380,299.78
Chandler Asset Management- CONFIDENTIAL Page 8 Execution Time: 12/3/201810:12:14 PM
City of West Covina Short Term
Transaction Ledger
OR
Account #10479
As of November 30, 2018
Transaction
Type
ACQUISITIONS
Settlement
Date
CUSIP
Quantity
Security Description
Price Acq/Disp
Yield
Amount
Interest
Pur/Sold
Total Amount
Gain/Loss
Purchase
11/01/2018
31846V203
2,406.25
First American Govt Obligation Fund
1.000
1.77%
2,406.25
0.00
2,406.25
0.00
Class Y
Purchase
11/01/2018
31846V203
547.27
First American Govt Obligation Fund
1.000
1.77%
547.27
0.00
547.27
0.00
Class Y
Purchase
11/03/2018
31846V203
4,485.00
First American Govt Obligation Fund
1.000
1.77%
4,485.00
0.00
4,485.00
0.00
Class Y
Purchase
11/06/2018
31846V203
4,812.50
First American Govt Obligation Fund
1.000
1.77%
4,812.50
0.00
4,812.50
0.00
Class Y
Purchase
11/09/2018
31846V203
3,718.75
First American Govt Obligation Fund
1.000
1.77%
3,718.75
0.00
3,718.75
0.00
Class Y
Purchase
11/12/2018
31846V203
2,356.25
First American Govt Obligation Fund
1.000
1.77%
2,356.25
0.00
2,356.25
0.00
Class Y
Purchase
11/13/2018
31846V203
356,686.46
First American Govt Obligation Fund
1.000
1.77%
356,686.46
0.00
356,686.46
0.00
Class Y
Purchase
11/15/2018
31846V203
154.00
First American Govt Obligation Fund
1.000
1.77%
154.00
0.00
154.00
0.00
Class Y
Purchase
11/15/2018
31846V203
9,194.82
First American Govt Obligation Fund
1.000
1.77%
9,194.82
0.00
9,194.82
0.00
Class Y
Purchase
11/15/2018
31846V203
11,962.36
First American Govt Obligation Fund
1.000
1.77%
11,962.36
0.00
11,962.36
0.00
Class Y
Purchase
11/15/2018
31846V203
53.08
First American Govt Obligation Fund
1.000
1.77%
53.08
0.00
53.08
0.00
Class Y
Purchase
11/15/2018
31846V203
5,755.10
First American Govt Obligation Fund
1.000
1.77%
5,755.10
0.00
5,755.10
0.00
Class Y
Purchase
11/15/2018
31846V203
110.83
First American Govt Obligation Fund
1.000
1.77%
110.83
0.00
110.83
0.00
Class Y
Purchase
11/15/2018
31846V203
10,593.32
First American Govt Obligation Fund
1.000
1.77%
10,593.32
0.00
10,593.32
0.00
Class Y
Purchase
11/15/2018
31846V203
24,312.32
First American Govt Obligation Fund
1.000
1.77%
24,312.32
0.00
24,312.32
0.00
Class Y
Purchase
11/15/2018
31846V203
16,436.07
First American Govt Obligation Fund
1.000
1.77%
16,436.07
0.00
16,436.07
0.00
Class Y
Chandler Asset Management-
CONFIDENTIAL
Page 9
Execution
Time: 12/3/201810:12:14 PM
City of West
Covina Short Term
Transaction Ledger
OR
Account #10479
As of November 30,
2018
Transaction
Type
ACQUISITIONS
Settlement
Date
CUSIP
Quantity
Security Description
Price Acq/Disp
Yield
Amount
Interest
Pur/Sold
Total Amount
Gain/Loss
Purchase
11/16/2018
31846V203
2,625.00
First American Govt Obligation Fund
1.000
1.77%
2,625.00
0.00
2,625.00
0.00
Class Y
Purchase
11/19/2018
31846V203
2,437.50
First American Govt Obligation Fund
1.000
1.77%
2,437.50
0.00
2,437.50
0.00
Class Y
Purchase
11/20/2018
31846V203
5,625.00
First American Govt Obligation Fund
1.000
1.77%
5,625.00
0.00
5,625.00
0.00
Class Y
Purchase
11/26/2018
31846V203
373.88
First American Govt Obligation Fund
1.000
1.77%
373.88
0.00
373.88
0.00
Class Y
Purchase
11/30/2018
31846V203
13,171.88
First American Govt Obligation Fund
1.000
1.81%
13,171.88
0.00
13,171.88
0.00
Class Y
Purchase
11/30/2018
31846V203
75,000.00
First American Govt Obligation Fund
1.000
1.81%
75,000.00
0.00
75,000.00
0.00
Class Y
Subtotal
552,817.64
552,817.64
0.00
552,817.64
0.00
TOTAL ACQUISITIONS
552,817.64
552,817.64
0.00
552,817.64
0.00
DISPOSITIONS
i
+
Paydown
11/15/2018
43811BACS
0.00
Honda Auto Receivables 2017-2 A3
100.000
0.00
154.00
154.00
0.00
1.68% Due 8/16/2021
Paydown
11/15/2018
47787XAB3
9,183.35
John Deere Owner Trust 2017-A A2
100.000
9,183.35
11.47
9,194.82
0.00
1.5% Due 10/15/2019
Paydown
11/15/2018
47788BABO
11,883.04
John Deere Owner Trust 2017-B A2A
100.000
11,883.04
79.32
11,962.36
0.00
1.59% Due 4/15/2020
Paydown
11/15/2018
47788BAD6
0.00
John Deere Owner Trust 2017-B A3
100.000
0.00
53.08
53.08
0.00
1.82% Due 10/15/2021
Paydown
11/15/2018
47788CAB8
5,412.26
John Deere Owner Trust 2018-A A2
100.000
5,412.26
342.84
5,755.10
0.00
2.42% Due 10/15/2020
Paydown
11/15/2018
47788CAC6
0.00
John Deere Owner Trust 2016-B A4
100.000
0.00
110.83
110.83
0.00
2.66% Due 4/18/2022
Chandler Asset Management-
CONFIDENTIAL
Page 10
Execution
Time: 12/3/201810:12:14 PM
City of West
Covina Short Term
Transaction Ledger
OR
Account #10479
As of November 30,
2018
Transaction
Type
DISPOSITIONS
Settlement
Date
CUSIP
Quantity
Security Description
Price Acq/Disp
Yield
Amount
Interest
Pur/Sold
Total Amount
Gain/Loss
Paydown
11/15/2018
654747ABO
10,558.46
Nissan Auto Receivables 2017-A A2A
100.000
10,558.46
34.86
10,593.32
0.00
1.47% Due 1/15/2020
Paydown
11/15/2018
89237RAB4
24,038.50
Toyota Auto Receivable 2017-C A2A
100.000
24,038.50
273.82
24,312.32
0.00
1.58% Due 7/15/2020
Paydown
11/15/2018
89238BABS
16,119.48
Toyota Auto Receivables Owner 2018-A
100.000
16,119.48
316.59
16,436.07
0.00
A2A
2.1% Due 10/15/2020
Paydown
11/26/2018
3137BFDQ1
0.00
FHLMC K717 A2
100.000
0.00
373.88
373.88
0.00
2.991% Due 9/25/2021
Subtotal
77,195.09
77,195.09
1,750.69
78,945.78
0.00
Maturity
11/13/2018
06371ERK5
350,000.00
Bank of Montreal Chicago Yankee CD
100.000
350,000.00
6,686.46
356,686.46
0.00
1.75% Due 11/13/2018
Maturity
11/30/2018
912828A34
75,000.00
US Treasury Note
100.000
75,000.00
0.00
75,000.00
0.00
1.25% Due 11/30/2018
Subtotal
425,000.00
425,000.00
6,686.46
431,686.46
0.00
Security
11/05/2018
31846V203
1,845.76
First American Govt Obligation Fund
1.000
1,845.76
0.00
1,845.76
0.00
Withdrawal
Class
Security
11/16/2018
31846V203
450,000.00
First American Govt Obligation Fund
1.000
450,000.00
0.00
450,000.00
0.00
Withdrawal
Class Y
Security
11/26/2018
31846V203
198.72
First American Govt Obligation Fund
1.000
198.72
0.00
198.72
0.00
Withdrawal
Class Y
Security
11/30/2018
31846V203
200,000.00
First American Govt Obligation Fund
1.000
200,000.00
0.00
200,000.00
0.00
Withdrawal
Class Y
Subtotal
652,044.48
652,044.48
0.00
652,044.48
0.00
TOTAL DISPOSITIONS
1,154,239.57
1,154,239.57
8,437.15
1,162,676.72
0.00
OTHER TRANSACTIONS
�hL
A
Interest
11/01/2018
3137EADR7
350,000.00
FHLMC Note
0.000
2,406.25
0.00
2,406.25
0.00
1.375% Due 5/1/2020
Chandler Asset Management-
CONFIDENTIAL
Page 11
Execution
Time: 12/3/201810:12:14 PM
City of West Covina Short Term Transaction Ledger
Account #10479 As of November 30, 2018 OR
Transaction Settlement Acq/Disp Interest
Type Date CUSIP Quantity Security Description Price Yield Amount Pur/Sold Total Amount Gain/Loss
OTHER TRANSACTIONS
Interest 11/03/2018 00440EAT4 390,000.00 Chubb INA Holdings Inc Callable Note 0.000 4,485.00 0.00 4,485.00 0.00
Cont 10/3/2020
2.3% Due 11/3/2020
Interest
11/06/2018
037833AQ3
250,000.00
Apple Inc Note
0.000
2,625.00
0.00
2,625.00
0.00
2.1% Due 5/6/2019
Interest
11/06/2018
3135GOK69
350,000.00
FNMA Note
0.000
2,187.50
0.00
2,187.50
0.00
1.25% Due 5/6/2021
Interest
11/09/2018
4581XOCD8
350,000.00
Inter -American Dev Bank Note
0.000
3,718.75
0.00
3,718.75
0.00
2.125% Due 11/9/2020
Interest
11/12/2018
4581XOCX4
290,000.00
Inter -American Dev Bank Note
0.000
2,356.25
0.00
2,356.25
0.00
1.625% Due 5/12/2020
Interest
11/16/2018
166764BG4
250,000.00
Chevron Corp Callable Note Cont
0.000
2,625.00
0.00
2,625.00
0.00
4/15/2021
2.1% Due 5/16/2021
Interest
11/19/2018
857477AV5
250,000.00
State Street Bank Note
0.000
2,437.50
0.00
2,437.50
0.00
1.95% Due 5/19/2021
Interest
11/20/2018
747525AD5
500,000.00
Qualcomm Inc Note
0.000
5,625.00
0.00
5,625.00
0.00
2.25% Due 5/20/2020
Interest
11/30/2018
3135GOF73
350,000.00
FNMA Note
0.000
2,625.00
0.00
2,625.00
0.00
1.5% Due 11/30/2020
Interest
11/30/2018
912828A34
75,000.00
US Treasury Note
0.000
468.75
0.00
468.75
0.00
1.25% Due 11/30/2018
Interest
11/30/2018
912828VF4
375,000.00
US Treasury Note
0.000
2,578.13
0.00
2,578.13
0.00
1.375% Due 5/31/2020
Interest
11/30/2018
912828WN6
750,000.00
US Treasury Note
0.000
7,500.00
0.00
7,500.00
0.00
2% Due 5/31/2021
Subtotal
4,530,000.00
41,638.13
0.00
41,638.13
0.00
Chandler Asset Management- CONFIDENTIAL Page 12 Execution Time: 12/3/201810:12:14 PM
City of West Covina Short Term Transaction Ledger
Account #10479 As of November 30, 2018
OR
OTHER TRANSACTIONS Mw
Dividend 11/01/2018 31846V203 106,219.03 First American Govt Obligation Fund 0.000 547.27 0.00 547.27 0.00
Class Y
Subtotal 106,219.03 547.27 0.00 547.27 0.00
TOTAL OTHER TRANSACTIONS 4,636,219.03 42,185.40 0.00 42,185.40 0.00
Chandler Asset Management- CONFIDENTIAL Page 13 Execution Time: 12/3/201810:12:14 PM
Chandler Report November 2018
ATTACHNIENT NO. 1
City of West Covina
Investment Report
For the Month Ended November 30, 2018
Interest/
Yield to Maturity %of
Description Book Value Market Value Maturity Date Portfolio
Cash and Cash Equivalents
Wells Fargo Checking Account $ 4,779,171 $ 4,779,171 0.00% n/a 13.21%
Pacific Western Bank Checking - HPP (CDBG) 8,668 8,668 0.00% n/a 0.02%
Pacific Western Bank Checking - HPP (LMIHF) 12,256 12,256 0.00% n/a 0.03%
Los Angeles County Investment Pool (LACIP) 5,939,130 5,939,130 1.91% n/a 16.42%
Money Market Fund - Bank of the West 503,991 503,991 0.56% n/a 1.39%
Investments - Chandler Asset Management
Asset -Backed Securities 772,644 770,163 2.99% See attached 2.13%
Federal Agencies 7,611,798 7,433,760 2.77% See attached 20.55%
Collateralized Mortgage Obligation 152,154 149,001 3.20% See attached 0.41%
Money Market Funds 4,586 4,586 1.81 % See attached 0.01 %
Supranationals 2,180,365 2,134,490 2.88% See attached 5.90%
US Corporate 6,890,916 6,761,669 3.13% See attached 18.69%
US Treasury 6,173,225 6,028,765 2.78% See attached 16.66%
Total Cash and Investments $ 35,028,904 $ 34,525,650
Bond Reserves
Lease Revenue Bonds, 2006 Series A & 2006 Series B (Taxable)
First American Treasury Obligations Fund Class D $ 1,071,000 $ 1,071,000 1.70% n/a 2.96%
First American Treasury Obligations Fund Class D 585,372 585,372 1.70% n/a 1.62%
Total Bond Reserves $ 1,656,372 $ 1,656,372
Total Investment Portfolio $ 36,685,276 $ 36,182,022 100.00%
Blended Yield of Cash and Investments *
2.65 %
Benchmarks:
LAIF
2.21%
LACIP
1.91%
6mo U.S. Treasury
2.52%
2yr U.S. Treasury
2.80%
Syr U.S. Treasury
2.84%
' To ensure timely submission of the Investment Report, the prior month's LACIP percentage yield is used
I hereby certify that the investments are in compliance with the investment policy adopted by the City Council. The investment
portfolio provides sufficient funds to meet the budgeted expenditures over the next six months. This report meets the requirements of
Government Code Section 53646.
PREPARED BY: REV I Y:
Todd H. Owens - Accounting Manager Colleen B. Rozatti - City Tr ,
APPROVED BY:
Marcie Medina - Finance Director
CA.
City of West Covina Short Term - Account #10479
MONTHLY ACCOUNT STATEMENT
NOVEMBER 1, 2018 THROUGH NOVEMBER 30, 2018
Chandler Team:
For questions about your account, please call (800) 317-4747,
or contact operations@chandlerasset.com
Custodian
US Bank
Christopher Isles
(503)464-3685
CHANDLER ASSET MANAGEMENT
chandlerasset.com
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures.
City of West Covina Short Term
Account #10479
PORTFOLIO CHARACTERISTICS
Average Modified Duration
1.56
Average Coupon
1.73%
Average Purchase YTM
1.44%
Average Market YTM
2.90%
Average S&P/Moody Rating
AA/Aa1
Average Final Maturity
1.67 yrs
Average Life
1.62 yrs
SECTOR ALLOCATION
Agency 31.9%
us corn 29.0%
us Treasury 25.9%
s.p.= 9.2%
ABS .3.3%
-ol 0.6%
Manes Mkt Fd 0.0%
PERFORMANCE REVIEW
Portfolio Summary
As of November 30, 2018
ACCOUNT SUMMARY
TOP ISSUERS
Beg. Values
End Values
Government of United States
as of 10/31/18
as of 11/30/18
Federal National Mortgage Assoc
Market Value 23,846,100
23,282,434
Federal Home Loan Mortgage Corp
A
Accrued Interest 113,619
97,866
Total Market Value 23,959,718
23,380,300
Federal Home Loan Bank
Income Earned 30,403
29,568
International Finance Corp
Cont/WD
-652,044
Inter -American Dev Bank
Par 24,325,200
23,723,778
Microsoft
Book Value 24,392,411
23,785,688
Eli Lilly & Co
Cost Value 24,542,949
23,941,617
Total
MATURITY DISTRIBUTION
0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5+
Maturity (Yrs)
CREDIT QUALITY (S&P)
A (16.0%)
25.9%
14.8 %
10.4 %
7.4%
5.0 %
4.1%
2.6%
2.1%
72.3%
NR (3.4%)
AAA (12.3%)
Annualized
TOTAL RATE OF RETURN
1M'W3M YTD 1YR
2YRS 3YRS
5YR5
10YRS
7/31/2016
City of West Covina Short Term
0.31% 0.37% 1.03% 1.07%
1.01% N/A
N/A
N/A
0.67%
ICE BAML 1-3 Yr US Treasury/Agency Index
0.35% 0.38% 0.80% 0.81%
0.64% N/A
N/A
N/A
0.33%
Chandler Asset Management - CONFIDENTIAL Page 1 Execution Time: 12/3/201810:12:14 PM
City of West Covina Short Term Reconciliation Summary
Account #10479 As of November 30, 2018 OR
BOOK
BEGINNING BOOK VALUE
'
$24,392,410.82 BEGINNING BALANCE
$103,812.78
Acquisition
Acquisition
+Security Purchases
$0.00
Contributions
$0.00
+ Money Market Fund Purchases
$552,817.64
Security Sale Proceeds
$0.00
+ Money Market Contributions
$0.00
Accrued Interest Received
$0.00
+Security Contributions
$0.00
Interest Received
$43,388.82
+ Security Transfers
$0.00
Dividend Received
$547.27
Total Acquisitions
$552,817.64 Principal on Maturities
Interest on Maturities
$425,000.00
$6,686.46
Dispositions
-Security Sales
$0.00
Calls/Redemption(Principal)
$0.00
- Money Market Fund Sales
$0.00
Interest from Calls/Redemption
$0.00
- MMF Withdrawals
$652,044.48
Principal Paydown
$77,195.09
Security Withdrawals
$0.00
Total Acquisitions
$552,817.64
- Security Transfers
$0.00
Dispositions
Other Dispositions
$0.00
Withdrawals
$652,044.48
Maturites
$425,000.00
Security Purchase
$0.00
Calls
$0.00
Accrued Interest Paid
$0.00
- Principal Paydowns
$77,195.09
Total Dispositions
$652,044.48
Total Dispositions
$1,154,239.57 ENDING BOOK VALUE
Amortization/Accretion
+/- Net Accretion
($5,300.99)
($5,300.99)
Gain/Loss on Dispositions
+/- Realized Gain/Loss
$0.00
$0.00
ENDING BOOK VALUE
$23,785,687.90
Chandler Asset Management - CONFIDENTIAL Paee 2 Execution Time: 12/3/201810:12:14 PM
City of West Covina Short Term
Holdings Report
Account #10479
As of November 30, 2018
ABS
Security Description
Par Value/Units
Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
DurationCUSIP
654747ABO
Nissan Auto Receivables 2017-A A2A
17,904.96
03/21/2017
17,904.88
99.92
17,890.74
0.08%
Aaa / NR
1.13
1.47% Due 1/15/2020
1.47%
17,904.92
2.86%
11.70
(14.18)
AAA
0.06
47788BABO
John Deere Owner Trust 2017-B A2A
47,984.99
07/11/2017
47,980.83
99.76
47,872.19
0.20%
Aaa / NR
1.38
1.59%Due 4/15/2020
1.60%
47,982.92
2.87%
33.91
(110.73)
AAA
0.18
89237RAB4
Toyota Auto Receivable 2017-C A2A
183,922.44
07/25/2017
183,920.68
99.54
183,084.28
0.78%
Aaa / AAA
1.62
1.58% Due 7/15/2020
1.59%
183,921.48
3.01%
129.16
(837.20)
NR
0.32
89238BAB8
Toyota Auto Receivables Owner 2018-A
164,791.91
01/23/2018
164,775.07
99.62
164,158.60
0.70%
Aaa / AAA
1.88
A2A
2.12%
164,780.25
3.00%
153.81
(621.65)
NR
0.43
2.1% Due 10/15/2020
47788CAB8
John Deere Owner Trust 2018-A A2
164,587.74
Various
164,416.99
99.81
164,271.06
0.70%
Aaa / NR
1.88
2.42% Due 10/15/2020
2.51%
164,463.54
2.90%
177.02
(192.48)
AAA
0.41
43811BAC8
Honda Auto Receivables 2017-2 A3
110,000.00
04/27/2018
108,289.84
98.79
108,667.46
0.47%
Aaa / AAA
2.71
1.68% Due 8/16/2021
2.62%
108,595.23
3.05%
82.13
72.23
NR
0.89
47788BAD6
John Deere Owner Trust 2017-B A3
35,000.00
07/11/2017
34,997.44
98.73
34,554.66
0.15%
Aaa / NR
2.88
1.82% Due 10/15/2021
1.83%
34,998.27
3.06%
28.31
(443.61)
AAA
1.03
47788CAC6
John Deere Owner Trust 2016-B A4
50,000.00
02/21/2018
49,996.41
99.33
49,663.55
0.21%
Aaa / NR
3.38
2.66%Due 4/18/2022
2.68%
49,997.07
3.13%
59.11
(333.52)
AAA
1.49
772,282.14
770,162.54
3.30%
Aaa/AAA
2.03
Total ABS
774,192.04
2.12%
772,643.68
2.99%
675.15
(2,481.14)
AAA
0.54
AGEN
I
mom
313376BR5
FHLB Note
350,000.00
08/19/2016
356,681.50
99.98
349,940.15
1.51%
Aaa / AA+
0.04
1.75%Due 12/14/2018
0.91%
350,102.91
2.17%
2,841.32
(162.76)
AAA
0.04
3137EADK2
FHLMC Note
565,000.00
07/29/2016
570,938.15
99.06
559,711.60
2.40%
Aaa / AA+
0.67
1.25%Due 8/1/2019
0.89%
566,314.18
2.67%
2,354.16
(6,602.58)
AAA
0.66
3135GOP49
FNMA Note
700,000.00
09/02/2016
698,782.00
98.78
691,452.30
2.97%
Aaa /AA+
0.74
1% Due 8/28/2019
1.06%
699,697.18
2.68%
1,808.34
(8,244.88)
AAA
0.73
3137EADM8
FHLMC Note
700,000.00
08/05/2016
706,153.00
98.76
691,321.40
2.96%
Aaa / AA+
0.84
1.25%Due 10/2/2019
0.97%
701,631.88
2.75%
1,434.02
(10,310.48)
AAA
0.82
3137EAEES
FHLMC Note
350,000.00
01/12/2017
349,622.00
98.61
345,147.60
1.48%
Aaa / AA+
1.13
1.5% Due 1/17/2020
1.54%
349,857.78
2.75%
1,954.17
(4,710.18)
AAA
1.10
3135GOA78
FNMA Note
350,000.00
10/14/2016
355,204.50
98.72
345,513.35
1.49%
Aaa /AA+
1.14
1.625% Due 1/21/2020
1.16%
351,817.86
2.77%
2,053.82
(6,304.51)
AAA
1.11
Chandler Asset Management-
CONFIDENTIAL
Page 3
Execution Time:
12/3/201810:12:14 PM
City of West
Covina Short Term
Holdings Report
Account #10479
As of November 30, 2018
AGENCY
Security Description
Par Value/Units
Purchase Date
Book Yield
Cost Value
Book Value
JL
Mkt Price
Mkt YTIVI
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
DurationCUSIP
3137EADR7
FHLMC Note
350,000.00
06/29/2017
348,015.50
98.04
343,131.25
1.47%
Aaa / AA+
1.42
1.375% Due 5/1/2020
1.58%
349,009.67
2.79%
401.04
(5,878.42)
AAA
1.39
313383HUS
FHLB Note
350,000.00
Various
358,197.50
98.36
344,249.50
1.48%
Aaa /AA+
1.53
1.75% Due 6/12/2020
1.12%
353,304.08
2.85%
2,875.35
(9,054.58)
NR
1.49
3135GOD75
FNMA Note
700,000.00
07/29/2016
712,474.00
98.03
686,244.30
2.95%
Aaa /AA+
1.56
1.5% Due 6/22/2020
1.03%
704,984.34
2.79%
4,637.50
(18,740.04)
AAA
1.52
3135GOF73
FNMA Note
350,000.00
07/29/2016
355,939.50
97.38
340,816.00
1.46%
Aaa /AA+
2.00
1.5% Due 11/30/2020
1.10%
352,735.54
2.86%
14.58
(11,919.54)
AAA
1.95
313OA7CV5
FHLB Note
350,000.00
07/29/2016
353,846.50
96.88
339,067.75
1.46%
Aaa / AA+
2.22
1.375% Due 2/18/2021
1.13%
351,871.27
2.84%
1,376.91
(12,803.52)
AAA
2.15
3135GOK69
FNMA Note
350,000.00
07/22/2016
349,744.50
96.33
337,164.80
1.44%
Aaa /AA+
2.43
1.25% Due 5/6/2021
1.27%
349,870.13
2.82%
303.82
(12,705.33)
AAA
2.37
313379RB7
FHLB Note
350,000.00
08/15/2017
351,802.50
97.39
340,861.50
1.47%
Aaa / AA+
2.53
1.875% Due 6/11/2021
1.73%
351,192.62
2.95%
3,098.96
(10,331.12)
AAA
2.42
3130A8QS5
FHLB Note
350,000.00
08/19/2016
347,452.00
95.76
335,147.05
1.44%
Aaa / AA+
2.62
1.125%Due 7/14/2021
1.28%
348,636.88
2.81%
1,498.44
(13,489.83)
AAA
2.54
3137EAEC9
FHLMC Note
350,000.00
08/19/2016
346,720.50
95.54
334,382.65
1.44%
Aaa / AA+
2.70
1.125%Due 8/12/2021
1.32%
348,221.20
2.85%
1,192.19
(13,838.55)
AAA
2.62
3135GOS38
FNMA Note
725,000.00
Various
728,871.25
97.40
706,161.60
3.05%
Aaa /AA-
3.10
2% Due 1/5/2022
1.88%
727,587.90
2.88%
5,880.56
(21,426.30)
AAA
2.95
3135GOT45
FNMA Note
355,000.00
06/19/2017
354,946.40
96.75
343,447.59
1.47%
Aaa /AA+
3.35
1.875% Due 4/5/2022
1.88%
354,962.60
2.90%
1,035.42
(11,515.01)
AAA
3.20
7,645,391.30
7,433,760.39
31.94%
Aaa / AA+
1.69
Total Agency
7,595,000.00
1.27%
7,611,798.02
2.77%
34,760.60
(178,037.63)
AAA
1.64
CIVIC),
,
3137BFDQ1
FHLMC K717 A2
150,000.00
01/04/2018
152,835.94
99.33
149,000.55
0.64%
NR/NR
2.82
2.991%Due 9/25/2021
1.91%
152,153.64
3.20%
373.88
(3,153.09)
AAA
2.49
152,835.94
149,000.55
0.64%
NR/NR
2.82
Total CMO
150,000.00
1.91%
152,153.64
3.20%
373.88
(3,153.09)
AAA
2.49
Chandler Asset Management-
CONFIDENTIAL
Page 4
Execution Time:
12/3/201810:12:14 PM
City of West Covina Short Term
Holdings Report
Account #10479
As of November 30, 2018
Security Description
MONEY MARKET FUND FI
Par Value/Units
Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTIVI
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
DurationCUSIP
31846V203 First American Govt Obligation Fund
4,585.94
Various
4,585.94
1.00
4,585.94
0.02%
Aaa / AAA
0.00
Class Y
1.81%
4,585.94
1.81%
0.00
0.00
AAA
0.00
4,585.94
4,585.94
0.02%
Aaa / AAA
0.00
Total Money Market Fund FI
4,585.94
1.81%
4,585.94
1.81%
0.00
0.00
AAA
0.00
SUPRANATIONAL
'
45950KCDO International Finance Corp Note
700,000.00
08/05/2016
715,554.00
99.20
694,389.50
2.98%
Aaa / AAA
0.79
1.75% Due 9/16/2019
1.02%
703,963.94
2.78%
2,552.08
(9,574.44)
NR
0.78
4581XOCX4 Inter -American Dev Bank Note
290,000.00
04/05/2017
289,312.70
98.26
284,951.68
1.22%
Aaa/AAA
1.45
1.625% Due 5/12/2020
1.70%
289,677.71
2.86%
248.72
(4,726.03)
AAA
1.42
4581XOCD8 Inter -American Dev Bank Note
350,000.00
08/05/2016
363,261.50
98.51
344,792.70
1.48%
Aaa/AAA
1.95
2.125% Due 11/9/2020
1.21%
356,050.45
2.92%
454.51
(11,257.75)
AAA
1.88
45950KCMO International Finance Corp Note
215,000.00
01/18/2018
214,367.90
98.64
212,075.79
0.91%
Aaa / AAA
2.16
2.25%Due 1/25/2021
2.35%
214,546.68
2.91%
1,693.13
(2,470.89)
NR
2.07
45950KCI7 International Finance Corp Note
275,000.00
11/09/2016
268,576.00
95.43
262,432.22
1.13%
Aaa/AAA
2.64
1.125%Due 7/20/2021
1.64%
271,392.36
2.94%
1,125.78
(8,960.14)
NR
2.56
4581XOCW6 Inter -American Dev Bank Note
345,000.00
01/10/2017
344,575.65
97.35
335,847.84
1.45%
Aaa / NR
3.14
2.125% Due 1/18/2022
2.15%
344,734.14
3.02%
2,708.49
(8,886.30)
AAA
2.98
2,195,647.75
2,134,489.73
9.17%
Aaa/AAA
1.80
Total Supranational
2,175,000.00
1.53%
2,180,365.28
2.88%
8,782.71
(45,875.55)
AAA
1.74
US CORPORATE
A&
17275RAR3 Cisco Systems Note
250,000.00
08/16/2016
256,315.00
99.84
249,607.50
1.07%
Al / AA-
0.25
2.125% Due 3/1/2019
1.11%
250,615.10
2.74%
1,328.13
(1,007.60)
NR
0.25
30231GAD4 Exxon Mobil Corp Callable Note Cont
250,000.00
07/18/2016
254,365.00
99.71
249,277.00
1.07%
Aaa / AA+
0.29
2/15/2019
1.15%
250,469.45
2.81%
960.03
(1,192.45)
NR
0.29
1.819% Due 3/15/2019
532457BF4 Eli Lilly & Co Note
500,000.00
09/08/2016
509,180.00
99.76
498,815.50
2.14%
A2 / AA-
0.29
1.95% Due 3/15/2019
1.20%
501,045.70
2.76%
2,058.34
(2,230.20)
A
0.29
Chandler Asset Management- CONFIDENTIAL Paee 5 Execution Time: 12/3/201810:12:14 PM