03-19-2019 - AGENDA ITEM 02 INVESTMENT REPORT FOR THE MONTH ENDED JANUARY 31, 2019AGENDA ITEM NO.2
AGENDA STAFF REPORT
City of West Covina I Office of the City Manager
DATE: March 19, 2019
TO: Mayor and City Council
FROM: Nikole Bresciani
Acting City Manager
SUBJECT: INVESTMENT REPORT FOR THE MONTH ENDED JANUARY 31, 2019
RECOMMENDATION:
It is recommended that the City Council receive and file the Investment Report for the month ended January
31, 2019.
DISCUSSION:
The Investment Report (Attachment No. 1) presents the City's and the Successor Agency's cash and
investments for the month ended January 31, 2019. 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 January 31, 2019, the investment portfolio had a market value of $58,778,927.
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
January 31, 2019, the bond reserves had a market value of $6,838,277.
Prepared by: Todd H. Owens, Accounting Manager
Additional Approval: Marcie Medina, Finance Director
Fiscal Impact
FISCAL IMPACT:
No Fiscal Impact.
Attachments
City of West
Covina Short Term
Holdings Report
Account #10479
As of January
31, 2019
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
DurationCUSIP
Fitch
Maturity
084664CK5
Berkshire Hathaway Note
205,000.00
08/08/2016
204,801.15
99.28
203,516.21
0.93%
Aa2 / AA
0.54
1.3% Due 8/15/2019
1.33%
204,964.59
2.66%
1,228.86
(1,448.38)
A+
0.53
06406HCW7
Bank of New York Callable Note Cont
500,000.00
Various
514,405.00
99.67
498,364.00
2.27%
Al/A
0.61
8/11/2019
1.36%
502,800.62
2.84%
4,472.22
(4,436.62)
AA-
0.60
2.3% Due 9/11/2019
68389XAX3
Oracle Corp Note
250,000.00
08/09/2016
257,177.50
99.75
249,368.00
1.13%
Al/AA-
0.68
2.25% Due 10/8/2019
1.32%
251,551.39
2.62%
1,765.63
(2,183.39)
A
0.67
46625HKA7
1P Morgan Chase Callable Note Cont
445,000.00
08/26/2016
451,363.50
99.37
442,190.72
2.00%
A2 / A-
0.98
12/23/2019
1.81%
446,826.94
2.91%
222.50
(4,636.22)
AA-
0.96
2.25% Due 1/23/2020
94974BGF1
Wells Fargo Corp Note
250,000.00
07/15/2016
254,060.00
99.32
248,295.25
1.12%
A2 / A-
1.00
2.15% Due 1/30/2020
1.67%
251,143.35
2.85%
14.93
(2,848.10)
A+
0.98
22160KAGO
Costco Wholesale Corp Note
150,000.00
11/01/2016
150,873.00
99.00
148,498.80
0.68%
Aa3 / A+
1.04
1.75% Due 2/15/2020
1.57%
150,276.18
2.73%
1,210.42
(1,777.38)
A+
1.01
747525ADS
Qualcomm Inc Note
500,000.00
07/26/2016
513,955.00
99.34
496,707.50
2.25%
A2/A-
1.30
2.25% Due 5/20/2020
1.49%
504,755.34
2.77%
2,218.76
(8,047.84)
NR
1.27
437076BQ4
Home Depot Note
90,000.00
05/24/2017
89,947.80
98.76
88,885.44
0.40%
A2 / A
1.35
1.8% Due 6/5/2020
1.82%
89,976.66
2.74%
252.00
(1,091.22)
A
1.31
00440EAT4
Chubb INA Holdings Inc Callable Note
390,000.00
02/06/2017
391,836.90
99.16
386,708.40
1.76%
A3 / A
1.76
Cont 10/3/2020
2.17%
390,863.87
2.79%
2,192.67
(4,155.47)
A
1.70
2.3% Due 11/3/2020
44932HAG8
IBM Credit Corp Note
250,000.00
02/14/2018
248,662.50
99.50
248,746.50
1.14%
Al/A
2.02
2.65% Due 2/5/2021
2.84%
249,093.95
2.91%
3,238.89
(347.45)
A
1.92
037833BS8
Apple Inc Callable Note Cont 1/23/2021
250,000.00
08/19/2016
257,375.00
99.20
248,011.25
1.13%
Aal/AA+
2.07
2.25% Due 2/23/2021
1.57%
253,377.97
2.65%
2,468.75
(5,366.72)
NR
1.98
30231GAV4
Exxon Mobil Corp Callable Note Cont
250,000.00
07/11/2016
258,810.00
99.20
247,993.00
1.13%
Aaa / AA+
2.08
2/1/2021
1.43%
253,954.34
2.62%
2,314.58
(5,961.34)
NR
2.00
2.222% Due 3/1/2021
166764BG4
Chevron Corp Callable Note Cont
250,000.00
08/16/2016
255,022.50
98.73
246,833.50
1.12%
Aa2 / AA
2.29
4/15/2021
1.66%
252,422.75
2.67%
1,093.75
(5,589.25)
NR
2.21
2.1% Due 5/16/2021
857477AV5
State Street Bank Note
250,000.00
08/26/2016
252,750.00
97.71
244,278.25
1.11%
Al / A
2.30
1.95% Due 5/19/2021
1.71%
251,338.27
2.99%
975.00
(7,060.02)
AA-
2.22
Chandler Asset Management
- CONFIDENTIAL
Page 6
Execution Time: 2/3/2019 3:06:34
PM
City of West
Covina Short Term
Holdings Report
Account #10479
As of January
31, 2019
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
DurationCUSIP
Fitch
Maturity
594918BPS
Microsoft Callable Note Cont 7/8/21
200,000.00
08/26/2016
199,536.00
97.50
194,996.00
0.89%
Aaa / AAA
2.52
1.55% Due 8/8/2021
1.60%
199,763.50
2.58%
1,489.72
(4,767.50)
AA+
2.43
69371RN44
Paccar Financial Corp Note
225,000.00
01/25/2017
216,153.00
96.57
217,279.35
0.99%
Al / A+
2.53
1.65% Due 8/11/2021
2.57%
220,068.36
3.07%
1,753.13
(2,789.01)
NR
2.43
69353RFE3
PNC Bank Callable Note Cont 6/28/2022
250,000.00
07/25/2017
249,977.50
97.58
243,953.00
1.10%
A2/A
3.49
2.45%Due 7/28/2022
2.45%
249,984.31
3.19%
51.04
(6,031.31)
A+
3.31
6,197,609.05
6,060,559.10
27.55%
Al/A+
1.29
Total US Corporate
6,115,000.00
1.64%
6,134,506.31
2.78%
35,746.84
(73,947.21)
A+
1.24
US TREASURY
.
912828WS5
US Treasury Note
375,000.00
07/20/2016
383,497.35
99.66
373,740.38
1.69%
Aaa /AA+
0.41
1.625% Due 6/30/2019
0.84%
376,178.87
2.44%
538.67
(2,438.49)
AAA
0.41
91282SG95
US Treasury Note
750,000.00
07/25/2016
766,848.22
99.15
743,613.00
3.36%
Aaa /AA+
0.92
1.625% Due 12/31/2019
0.96%
754,477.62
2.57%
1,077.34
(10,864.62)
AAA
0.90
912828UL2
US Treasury Note
375,000.00
08/05/2016
380,992.47
98.85
370,693.50
1.68%
Aaa /AA+
1.00
1.375% Due 1/31/2020
0.91%
376,716.18
2.55%
14.24
(6,022.68)
AAA
0.98
912828UVO
US Treasury Note
375,000.00
08/05/2016
377,799.11
98.40
368,994.00
1.67%
Aaa /AA+
1.16
1.125%Due 3/31/2020
0.92%
375,891.68
2.53%
1,437.16
(6,897.68)
AAA
1.14
9128281(58
US Treasury Note
225,000.00
06/27/2017
224,113.06
98.62
221,888.70
1.01%
Aaa /AA+
1.25
1.375% Due 4/30/2020
1.52%
224,611.70
2.51%
794.80
(2,723.00)
AAA
1.22
912828VF4
US Treasury Note
375,000.00
08/05/2016
380,391.88
98.52
369,448.13
1.67%
Aaa / AA+
1.33
1.375% Due 5/31/2020
0.99%
376,878.64
2.51%
892.43
(7,430.51)
AAA
1.30
9128281-99
US Treasury Note
250,000.00
12/14/2016
246,319.20
98.09
245,234.50
1.11%
Aaa /AA+
1.75
1.375% Due 10/31/2020
1.77%
248,341.56
2.50%
883.11
(3,107.06)
AAA
1.70
91282SN48
US Treasury Note
250,000.00
01/24/2018
246,796.88
98.68
246,709.00
1.12%
Aaa / AA+
1.92
1.75% Due 12/31/2020
2.20%
247,909.45
2.46%
386.74
(1,200.45)
AAA
1.87
91282SN89
US Treasury Note
375,000.00
08/11/2016
380,054.97
97.87
367,002.00
1.66%
Aaa /AA+
2.00
1.375% Due 1/31/2021
1.07%
377,259.72
2.47%
14.24
(10,257.72)
AAA
1.96
91282SP87
US Treasury Note
350,000.00
06/27/2017
343,397.66
97.29
340,525.50
1.55%
Aaa /AA+
2.08
1.125%Due 2/28/2021
1.66%
346,268.03
2.47%
1,675.07
(5,742.53)
AAA
2.02
912828WN6
US Treasury Note
750,000.00
Various
766,555.25
98.95
742,119.00
3.37%
Aaa /AA+
2.33
2% Due 5/31/2021
1.51%
758,238.23
2.47%
2,596.16
(16,119.23)
AAA
2.25
Chandler Asset Management
- CONFIDENTIAL
Paee 7
Execution Time: 2/3/2019 3:06:34
PM
City of West Covina Short Term
Holdings Report
Account #10479
As of January 31, 2019
CUSIP Security Description
US TREASURY
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
Duration
91282SS76 US Treasury Note
250,000.00
05/30/2017
244,366.07
96.79
241,963.00
1.09%
Aaa /AA+
2.50
1.125% Due 7/31/2021
1.69%
246,627.79
2.46%
7.77
(4,664.79)
AAA
2.44
912828G87 US Treasury Note
165,000.00
06/29/2017
167,307.98
99.14
163,581.99
0.74%
Aaa / AA+
2.92
2.125% Due 12/31/2021
1.80%
166,492.82
2.43%
309.94
(2,910.83)
AAA
2.80
91282SV72 US Treasury Note
200,000.00
07/25/2017
200,492.86
98.37
196,734.40
0.89%
Aaa / AA+
3.00
1.875% Due 1/31/2022
1.82%
200,327.08
2.44%
10.36
(3,592.68)
AAA
2.90
91282BJ43 US Treasury Note
355,000.00
03/13/2017
348,580.68
97.97
347,803.09
1.58%
Aaa /AA+
3.08
1.75% Due 2/28/2022
2.14%
351,019.38
2.44%
2,642.89
(3,216.29)
AAA
2.95
912828XGO US Treasury Note
365,000.00
08/15/2017
370,176.81
98.99
361,307.30
1.64%
Aaa /AA+
3.41
2.125% Due 6/30/2022
1.82%
368,624.93
2.44%
685.64
(7,317.63)
AAA
3.27
5,827,690.45
5,701,357.49
25.83%
Aaa / AA+
1.83
Total US Treasury
5,785,000.00
1.39%
5,795,863.68
2.49%
13,966.56
(94,506.19)
AAA
1.78
22,513,172.77
22,049,195.92
100.00%
Aal/AA
1.58
TOTAL PORTFOLIO
22,322,551.89
1.47%
22,372,500.30
2.59%
81,583.90
(323,304.38)
AAA
1.49
TOTAL MARKET VALUE PLUS ACCRUED
22,130,779.82
Chandler Asset Management - CONFIDENTIAL Page 8 Execution Time: 2/3/2019 3:06:34 PM
City of West Covina Short Term
Transaction Ledger
OR
Account #10479
As of January 31, 2019
Transaction
Type
ACQUISITIONS
Settlement
Date
CUSIP
Quantity
Security Description
Price Acq/Disp
Yield
Amount
Interest
Pur/Sold
Total Amount
Gain/Loss
Purchase
01/02/2019
31846V203
89.44
First American Govt Obligation Fund
1.000
2.05%
89.44
0.00
89.44
0.00
Class Y
Purchase
01/05/2019
31846V203
7,250.00
First American Govt Obligation Fund
1.000
2.05%
7,250.00
0.00
7,250.00
0.00
Class Y
Purchase
01/14/2019
31846V203
1,968.75
First American Govt Obligation Fund
1.000
2.05%
1,968.75
0.00
1,968.75
0.00
Class Y
Purchase
01/15/2019
31846V203
154.00
First American Govt Obligation Fund
1.000
2.05%
154.00
0.00
154.00
0.00
Class Y
Purchase
01/15/2019
31846V203
9,452.69
First American Govt Obligation Fund
1.000
2.05%
9,452.69
0.00
9,452.69
0.00
Class Y
Purchase
01/15/2019
31846V203
53.08
First American Govt Obligation Fund
1.000
2.05%
53.08
0.00
53.08
0.00
Class Y
Purchase
01/15/2019
31846V203
17,092.86
First American Govt Obligation Fund
1.000
2.05%
17,092.86
0.00
17,092.86
0.00
Class Y
Purchase
01/15/2019
31846V203
110.83
First American Govt Obligation Fund
1.000
2.05%
110.83
0.00
110.83
0.00
Class Y
Purchase
01/15/2019
31846V203
8,590.10
First American Govt Obligation Fund
1.000
2.05%
8,590.10
0.00
8,590.10
0.00
Class Y
Purchase
01/15/2019
31846V203
21,428.50
First American Govt Obligation Fund
1.000
2.05%
21,428.50
0.00
21,428.50
0.00
Class Y
Purchase
01/15/2019
31846V203
14,660.92
First American Govt Obligation Fund
1.000
2.05%
14,660.92
0.00
14,660.92
0.00
Class Y
Purchase
01/17/2019
31846V203
2,625.00
First American Govt Obligation Fund
1.000
2.05%
2,625.00
0.00
2,625.00
0.00
Class Y
Purchase
01/18/2019
31846V203
3,665.63
First American Govt Obligation Fund
1.000
2.05%
3,665.63
0.00
3,665.63
0.00
Class Y
Purchase
01/20/2019
31846V203
1,548.25
First American Govt Obligation Fund
1.000
2.05%
1,548.25
0.00
1,548.25
0.00
Class Y
Purchase
01/21/2019
31846V203
2,843.75
First American Govt Obligation Fund
1.000
2.05%
2,843.75
0.00
2,843.75
0.00
Class Y
Purchase
01/23/2019
31846V203
5,006.25
First American Govt Obligation Fund
1.000
2.05%
5,006.25
0.00
5,006.25
0.00
Class Y
Chandler Asset Management
- CONFIDENTIAL
Page 9
Execution
Time: 2/3/2019 3:06:34 PM
City of West
Covina Short Term
Transaction Ledger
OR
Account #10479
As of January 31,
2019
Transaction
Type
ACQUISITIONS
Settlement
Date
CUSIP
Quantity
Security Description
Price Acq/Disp
Yield
Amount
Interest
Pur/Sold
Total Amount Gain/Loss
Purchase
01/25/2019
31846V203
2,418.75
First American Govt Obligation Fund
1.000
2.05%
2,418.75
0.00
2,418.75
0.00
Class Y
Purchase
01/25/2019
31846V203
373.88
First American Govt Obligation Fund
1.000
2.05%
373.88
0.00
373.88
0.00
Class Y
Purchase
01/28/2019
31846V203
3,062.50
First American Govt Obligation Fund
1.000
2.05%
3,062.50
0.00
3,062.50
0.00
Class Y
Purchase
01/30/2019
31846V203
2,687.50
First American Govt Obligation Fund
1.000
2.05%
2,687.50
0.00
2,687.50
0.00
Class Y
Purchase
01/31/2019
31846V203
8,437.51
First American Govt Obligation Fund
1.000
2.01%
8,437.51
0.00
8,437.51
0.00
Class Y
Subtotal
113,520.19
113,520.19
0.00
113,520.19
0.00
TOTAL ACQUISITIONS
113,520.19
113,520.19
0.00
113,520.19
0.00
DISPOSITIONS
Paydown
01/15/2019
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
01/15/2019
47788BABO
9,398.29
John Deere Owner Trust 2017-B A2A
100.000
9,398.29
54.40
9,452.69
0.00
1.59% Due 4/15/2020
Paydown
01/15/2019
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
01/15/2019
4778SCABS
16,791.04
John Deere Owner Trust 2018-A A2
100.000
16,791.04
301.82
17,092.86
0.00
2.42% Due 10/15/2020
Paydown
01/15/2019
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
Paydown
01/15/2019
654747ABO
8,579.58
Nissan Auto Receivables 2017-A A2A
100.000
8,579.58
10.52
8,590.10
0.00
1.47% Due 1/15/2020
Paydown
01/15/2019
89237RAB4
21,215.06
Toyota Auto Receivable 2017-C A2A
100.000
21,215.06
213.44
21,428.50
0.00
1.58% Due 7/15/2020
Paydown
01/15/2019
89238BAB8
14,398.65
Toyota Auto Receivables Owner 2018-A
100.000
14,398.65
262.27
14,660.92
0.00
A2A
2.1% Due 10/15/2020
Chandler Asset Management
- CONFIDENTIAL
Page 10
Execution
Time: 2/3/2019 3:06:34
PM
City of West Covina Short Term Transaction Ledger
Account #10479 As of January 31, 2019
Transaction Settlement CUSIP Quantity Security Description Price
Type Date
DISPOSITIONS
Paydown 01/25/2019 3137BFDQ1 0.00 FHLMC K717 A2 100.000
2.991% Due 9/25/2021
aunt Interest Total Amount Gain/Loss
Pur/Sold
0.00 373.88 373.88 0.00
Subtotal
70,382.62
70,382.62
1,534.24
71,916.86
0.00
Security
01/04/2019
31846V203
1,703.79
First American Govt Obligation Fund
1.000
1,703.79
0.00
1,703.79
0.00
Withdrawal
Class Y
Security
01/28/2019
31846V203
183.01
First American Govt Obligation Fund
1.000
183.01
0.00
183.01
0.00
Withdrawal
Class
Subtotal
1,886.80
1,886.80
0.00
1,886.80
0.00
TOTAL DISPOSITIONS
72,269.42
72,269.42
1,534.24
73,803.66
0.00
OTHER TRANSACTIONS
Interest
01/05/2019
3135GOS38
725,000.00
FNMA Note
0.000
7,250.00
0.00
7,250.00
0.00
2% Due 1/5/2022
Interest
01/14/2019
313OA8QS5
350,000.00
FHLB Note
0.000
1,968.75
0.00
1,968.75
0.00
1.125% Due 7/14/2021
Interest
01/17/2019
3137EAEE5
350,000.00
FHLMC Note
0.000
2,625.00
0.00
2,625.00
0.00
1.5% Due 1/17/2020
Interest
01/18/2019
4581XOCW6
345,000.00
Inter -American Dev Bank Note
0.000
3,665.63
0.00
3,665.63
0.00
2.125% Due 1/18/2022
Interest
01/20/2019
45950KC17
275,000.00
International Finance Corp Note
0.000
1,548.25
0.00
1,548.25
0.00
1.125% Due 7/20/2021
Interest
01/21/2019
3135GOA78
350,000.00
FNMA Note
0.000
2,843.75
0.00
2,843.75
0.00
1.625% Due 1/21/2020
Interest
01/23/2019
46625HKA7
445,000.00
JP Morgan Chase Callable Note Cont
0.000
5,006.25
0.00
5,006.25
0.00
12/23/2019
2.25% Due 1/23/2020
Interest
01/25/2019
45950KCMO
215,000.00
International Finance Corp Note
0.000
2,418.75
0.00
2,418.75
0.00
2.25% Due 1/25/2021
Chandler Asset Management - CONFIDENTIAL Paee 11 Execution Time: 2/3/2019 3:06:34 PM
City of West Covina Short Term Transaction Ledger
Account #10479 As of January 31, 2019 OR
Transaction Settlement Acq/Disp Interest
Type Date CUSIP Quantity Security Description Price Yield Amount Pur/Sold Total Amount Gain/Loss
OTHER TRANSACTIONS
Interest 01/28/2019 69353RFE3 250,000.00 PNC Bank Callable Note Cont 6/28/2022 0.000 3,062.50 0.00 3,062.50 0.00
2.45% Due 7/28/2022
Interest
01/30/2019
94974BGF1
250,000.00
Wells Fargo Corp Note
0.000
2,687.50
0.00
2,687.50
0.00
2.15% Due 1/30/2020
Interest
01/31/2019
912828N89
375,000.00
US Treasury Note
0.000
2,578.13
0.00
2,578.13
0.00
1.375% Due 1/31/2021
Interest
01/31/2019
912828S76
250,000.00
US Treasury Note
0.000
1,406.25
0.00
1,406.25
0.00
1.125% Due 7/31/2021
Interest
01/31/2019
912828UL2
375,000.00
US Treasury Note
0.000
2,578.13
0.00
2,578.13
0.00
1.375% Due 1/31/2020
Interest
01/31/2019
912828V72
200,000.00
US Treasury Note
0.000
1,875.00
0.00
1,875.00
0.00
1.875% Due 1/31/2022
Subtotal
4,755,000.00
41,513.89
0.00
41,513.89
0.00
Dividend
01/02/2019
31846V203
105,022.12
First American Govt Obligation Fund
0.000
89.44
0.00
89.44
0.00
Class Y
Subtotal
105,022.12
89.44
0.00
89.44
0.00
TOTAL OTHER TRANSACTIONS
4,860,022.12
41,603.33
0.00
41,603.33
0.00
Chandler Asset Management - CONFIDENTIAL Page 12 Execution Time: 2/3/2019 3:06:34 PM
Attachment No. 1 - Investment Report January 2019
Chandler Report - January 2019
ATTACHMENT NO. 1
City of West Covina
Investment Report
For the Month Ended January 31, 2019
Interest/
Yield to
Maturity
% of
Description
Book Value Market Value
Maturity
Data
Portfolio
Cash and Cash Equivalents
Wells Fargo Checking Account
$ 13,267,997
$ 13,267,997
0.00%
n/a
20.32%
Pacific Western Bank Checking - HPP (CDBG)
8,568
8,568
0.00%
n/a
0.01%
Pacific Western Bank Checking- HPP (LMIHF)
12,256
12,256
0.00%
n/a
0.02%
Los Angeles County Investment Pool (LACIP)
19,356,160
19,356,160
2.13%
n/a
29.67%
Money Market Fund - Bank of the West
504,513
504,513
0.63%
n/a
0.77%
Wells Fargo Checking Account - Successor Agency
524,371
524,371
0.00%
n/a
0.80%
Wells Fargo Checking Account -CFD
1,170,743
1,170,743
0.00%
n/a
1.79%
Los Angeles County Investment Pool(LACIP)- Successor Agency
1,561,819
1,561,819
2.13%
n/a
2.39%
Investments - Chandler Asset Management
Asset -Backed Securities
634,474
633,338
2.85%
See attached
0.97%
Federal Agencies
7,259,671
7,136,746
2.51%
See attached
10.93%
Collateralized Mortgage Obligation
152,024
150,541
2.91%
See attached
0.23%
Money Markel Funds
216,656
216,656
2.01%
See attached
0.33%
Supranationals
2,179,306
2,149,999
2.58%
See attached
3.29%
US Corporate
6,134,506
6,060,559
2.78%
See attached
9.28%
US Treasury
5,795,863
5,701,357
2.49%
See attached
8.73%
Total Cash and Investments
$ 58,778,927 $ 58,456,623
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
1.83%
n/a
1.64%
First American Treasury Obligations Fund Class D
585,372
685,372
1.83%
n/a
0.90%
1996 Special Tax Refunding Bonds - Successor Agency
Westdeutsche Landesbank Girozentrale Investment Agmt
5,002,670
5,002,670
7.01%
9/1/2022
7.66%
First American Treasury Obligations Fund Class D
179,235
179,235
1.83%
n/a
0.27%
Total Bond Reserves
$ 6,838,277 $ 6,838,277
Total Investment Portfolio
$ 65,617,204 $ 65,293,900
100.00%
Blended Yield of Cash and Investments • 2.35%
Benchmarks:
LAIF 2.36%
LACIP2.13%
6mo U.S. Treasury 2.46%
2yr U.S. Treasury 2.45%
5vr U.S. Treasury 2.43%
• 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: REVIEWED BY:
Todd H. Owens -Accounting Manager Colleen B. Rozatti - City Treasu
APPROVED BY:
✓/ e4l��'
Mar&6 Medi -Fi eDirector
CA.
City of West Covina Short Term - Account #10479
MONTHLY ACCOUNT STATEMENT
JANUARY 1, 2019 THROUGH JANUARY 31, 2019
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
Portfolio Summary
C11%
Account #10479
As of January 31, 2019
PORTFOLIO CHARACTERISTICS
ACCOUNT SUMMARY
TOP ISSUERS
Average Modified Duration
1.49
Beg. Values
End Values
Government of United States
25.8%
as of 12/31/18
as of 1/31/19
Federal National Mortgage Assoc
15.8%
Average Coupon
1.72%
Market Value 21,961,369
22,049,196
Federal Home Loan Mortgage Corp
11.1%
Average Purchase YTM
1.47%
Accrued Interest 92769
,
81584
,
Federal Home Loan Bank
6.2%
Total Market Value 22,054,139
22,130,780
Average Market YTM
2.59%
Income Earned 27,729
27,345
International Finance Corp
5.3%
Average S&P/Moody Rating
AA/Aa1
Cont/WD
-1 887
Inter -American Dev Bank
4.4%
Par 22,281,301
22,322,552
Microsoft
2.7%
Average Final Maturity
1.58 yrs
Book Value 22,335,857
22,372,500
Eli Lilly & Co
2.3%
Average Life
1.54yrs
Cost Value 22,471,902
22,513,173
Total
73.6%
SECTOR ALLOCATION
Abe 32.4%
us corn 27.5%
us Treasury 25.8%
s.Rraz_ 9.8%
ABS, 2.9%
Money Mkt Fd 11.0%
cMol 0,7%
PERFORMANCE REVIEW
MATURITY DISTRIBUTION
0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5+
Maturity (Yrs)
CREDIT QUALITY (S&P)
AA (65.9%)
A (17-1%)
NR (3.3%)
AAA (13.7%)
Annualized
TOTAL RATE OF RETURN
1M _9W 3M YTD 1YR
2YRS 3YRS
SYRS
10YRS
7/31/2016
City of West Covina Short Term
0.36% 1.35% 0.36% 2.25%
1.42% N/A
N/A
N/A
1.04%
ICE BAML 1-3 Yr US Treasury/Agency Index
0.27% 1.41% 0.27% 2.16%
1.09% N/A
N/A
N/A
0.73%
Chandler Asset Management -CONFIDENTIAL Page 1 Execution Time: 2/3/2019 3:06:34 PM
City of West Covina Short Term Reconciliation Summary
Account #10479 As of January 31, 2019 OR
BEGINNING BOOK VALUE
Acquisition
+Security Purchases
+ Money Market Fund Purchases
+ Money Market Contributions
+Security Contributions
+ Security Transfers
Total Acquisitions
Dispositions
- Security Sales
- Money Market Fund Sales
- MMF Withdrawals
- Security Withdrawals
- Security Transfers
- Other Dispositions
- Maturites
Calls
- Principal Paydowns
Total Dispositions
Amortization/Accretion
+/- Net Accretion
Gain/Loss on Dispositions
+/- Realized Gain/Loss
ENDING BOOK VALUE
Chandler Asset Management - CONFIDENTIAL
I
$0.00
$113,520.19
$0.00
$0.00
$0.00
$0.00
$0.00
$1,886.80
$0.00
$0.00
$0.00
$0.00
$0.00
$70,382.62
$22,335,856.84 BEGINNING BALANCE
Acquisition
Contributions
Security Sale Proceeds
Accrued Interest Received
Interest Received
Dividend Received
$113,520.19 Principal on Maturities
Interest on Maturities
Calls/Redemption (Principal)
Interest from Calls/Redemption
Principal Paydown
Total Acquisitions
Dispositions
Withdrawals
Security Purchase
Accrued Interest Paid
Total Dispositions
$72,269.42 ENDING BOOK VALUE
($4,607.31)
($4,607.31)
$0.00
$0.00
$22,372,500.30
Page 2
$43,048.
$113,520.
$105,022.12
$216,655.51
Execution Time: 2/3/2019 3:06:34 PM
City of West
Covina short Term
Holdings Report
Account #10479
As of January
Purchase Date
31, 2019
Cost Value
Mkt Price
Market Value
% of Port.
Moody/S&P
Maturity
47788BABO
Security Description
John Deere Owner Trust 2017-B A2A
Par Value/Units
31,660.06
Book Yield
07/11/2017
Book Value
31,657.31
Mkt YTM
99.87
Accrued Int.
31,617.46
Gain/Loss
0.14%
Fitch
Aaa / NR
DurationCUSIP
1.21
1.59% Due 4/15/2020
1.60%
31,658.86
2.81%
22.38
(41.40)
AAA
0.11
89237RAB4
Toyota Auto Receivable 2017-C A2A
140,891.00
07/25/2017
140,889.64
99.69
140,459.44
0.64%
Aaa / AAA
1.45
1.58% Due 7/15/2020
1.59%
140,890.34
2.81%
98.94
(430.90)
NR
0.25
89238BAB8
Toyota Auto Receivables Owner 2018-A
135,471.90
01/23/2018
135,458.05
99.69
135,049.07
0.61%
Aaa / AAA
1.71
A2A
2.12%
135,463.18
2.96%
126.44
(414.11)
NR
0.38
2.1% Due 10/15/2020
47788CAB8
John Deere Owner Trust 2018-A A2
132,873.42
Various
132,735.58
99.86
132,686.98
0.60%
Aaa / NR
1.71
2.42% Due 10/15/2020
2.51%
132,782.25
2.82%
142.92
(95.27)
AAA
0.36
43811BAC8
Honda Auto Receivables 2017-2 A3
110,000.00
04/27/2018
108,289.84
99.18
109,099.21
0.49%
Aaa / AAA
2.54
1.68% Due 8/16/2021
2.62%
108,683.29
2.76%
82.13
415.92
NR
0.76
47788BAD6
John Deere Owner Trust 2017-B A3
35,000.00
07/11/2017
34,997.44
99.02
34,655.46
0.16%
Aaa / NR
2.71
1.82% Due 10/15/2021
1.83%
34,998.37
2.89%
28.31
(342.91)
AAA
0.92
47788CAC6
John Deere Owner Trust 2016-B A4
50,000.00
02/21/2018
49,996.41
99.54
49,770.30
0.23%
Aaa / NR
3.21
2.66% Due 4/18/2022
2.68%
49,997.21
3.01%
59.11
(226.91)
AAA
1.37
634,024.27
633,337.92
2.86%
Aaa/AAA
1.94
Total ABS
635,896.38
2.17%
634,473.50
2.85%
560.23
(1,135.58)
AAA
0.51
AGENCY
3137EADK2
FHLMC Note
565,000.00
07/29/2016
570,938.15
99.38
561,500.39
2.55%
Aaa /AA+
0.50
1.25% Due 8/1/2019
0.89%
565,978.87
2.50%
3,531.25
(4,478.48)
AAA
0.49
3135GOP49
FNMA Note
700,000.00
09/02/2016
698,782.00
99.14
693,956.90
3.15%
Aaa /AA+
0.57
1% Due 8/28/2019
1.06%
699,766.72
2.54%
2,975.00
(5,809.82)
AAA
0.57
3137EADM8
FHLMC Note
700,000.00
08/05/2016
706,153.00
99.16
694,086.40
3.15%
Aaa /AA+
0.67
1.25% Due 10/2/2019
0.97%
701,300.16
2.53%
2,892.36
(7,213.76)
AAA
0.66
3137EAEE5
FHLMC Note
350,000.00
01/12/2017
349,622.00
99.00
346,504.90
1.57%
Aaa / AA+
0.96
1.5% Due 1/17/2020
1.54%
349,879.18
2.56%
204.17
(3,374.28)
AAA
0.95
3135GOA78
FNMA Note
350,000.00
10/14/2016
355,204.50
99.11
346,881.85
1.57%
Aaa /AA+
0.97
1.625% Due 1/21/2020
1.16%
351,546.93
2.56%
157.99
(4,665.08)
AAA
0.96
3137EADR7
FHLMC Note
350,000.00
06/29/2017
348,015.50
98.55
344,918.70
1.56%
Aaa / AA+
1.25
1.375%Due 5/1/2020
1.58%
349,128.43
2.56%
1,203.13
(4,209.73)
AAA
1.22
3133831-11J8
FHLB Note
350,000.00
Various
358,197.50
99.00
346,491.95
1.57%
Aaa /AA+
1.36
1.75% Due 6/12/2020
1.12%
352,937.62
2.50%
833.68
(6,445.67)
NR
1.33
Chandler Asset Management
- CONFIDENTIAL
Paee 3
Execution Time: 2/3/2019 3:06:34 PM
City of West Covina Short Term
Holdings Report
Account #10479
As of January 31, 2019
CUSIP
AGENCY
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
Duration
3135GOD75
FNMA Note
700,000.00
07/29/2016
712,474.00
98.60
690,213.30
3.12%
Aaa /AA+
1.39
1.5% Due 6/22/2020
1.03%
704,441.24
2.53%
1,137.50
(14,227.94)
AAA
1.36
3135GOF73
FNMA Note
350,000.00
07/29/2016
355,939.50
98.22
343,754.60
1.56%
Aaa /AA+
1.83
1.5% Due 11/30/2020
1.10%
352,503.21
2.50%
889.58
(8,748.61)
AAA
1.79
313OA7CV5
FHLB Note
350,000.00
07/29/2016
353,846.50
97.82
342,375.60
1.56%
Aaa / AA+
2.05
1.375% Due 2/18/2021
1.13%
351,728.04
2.47%
2,178.99
(9,352.44)
AAA
1.99
3135GOK69
FNMA Note
350,000.00
07/22/2016
349,744.50
97.34
340,697.00
1.54%
Aaa /AA+
2.26
1.25% Due 5/6/2021
1.27%
349,879.20
2.46%
1,032.99
(9,182.20)
AAA
2.21
313379RB7
FHLB Note
350,000.00
08/15/2017
351,802.50
98.41
344,450.05
1.56%
Aaa / AA+
2.36
1.875% Due 6/11/2021
1.73%
351,112.51
2.57%
911.46
(6,662.46)
AAA
2.29
313OA8QS5
FHLB Note
350,000.00
08/19/2016
347,452.00
96.90
339,155.25
1.53%
Aaa /AA+
2.45
1.125%Due 7/14/2021
1.28%
348,725.29
2.43%
185.94
(9,570.04)
AAA
2.40
3137EAEC9
FHLMC Note
350,000.00
08/19/2016
346,720.50
96.86
339,003.70
1.54%
Aaa / AA+
2.53
1.125%Due 8/12/2021
1.32%
348,333.16
2.41%
1,848.44
(9,329.46)
AAA
2.46
3135GOS38
FNMA Note
725,000.00
Various
728,871.25
98.58
714,739.08
3.23%
Aaa /AA+
2.93
2% Due 1/5/2022
1.88%
727,446.03
2.50%
1,047.23
(12,706.95)
AAA
2.82
3135GOT45
FNMA Note
355,000.00
06/19/2017
354,946.40
98.03
348,016.09
1.58%
Aaa /AA+
3.18
1.875% Due 4/5/2022
1.88%
354,964.50
2.52%
2,144.79
(6,948.41)
AAA
3.04
7,288,709.80
7,136,745.76
32.35%
Aaa / AA+
1.61
Total Agency
7,245,000.00
1.28%
7,259,671.09
2.51%
23,174.50
(122,925.33)
AAA
1.56
CIVIC,
3137BFDQ1
FHLMC K717 A2
150,000.00
01/04/2018
152,835.94
100.36
150,541.35
0.68%
NR/NR
2.65
2.991% Due 9/25/2021
2.37%
152,023.88
2.91%
373.88
(1,482.53)
AAA
2.34
152,835.94
150,541.35
0.68%
NR/NR
2.65
Total CMO
150,000.00
2.37%
152,023.88
2.91%
373.88
(1,482.53)
AAA
2.34
Chandler Asset Management
- CONFIDENTIAL
Page 4
Execution Time: 2/3/2019 3:06:34
PM
City of West Covina Short Term
Holdings Report
Account #10479
As of January 31, 2019
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
216,655.51
Various
216,655.51
1.00
216,655.51
0.98%
Aaa / AAA
0.00
Class Y
2.01%
216,655.51
2.01%
0.00
0.00
AAA
0.00
216,655.51
216,655.51
0.98%
Aaa / AAA
0.00
Total Money Market Fund FI
216,655.51
2.01%
216,655.51
2.01%
0.00
0.00
AAA
0.00
SUPRANATIONAL
1
45950KCDO International Finance Corp Note
700,000.00
08/05/2016
715,554.00
99.48
696,325.70
3.17%
Aaa / AAA
0.62
1.75% Due 9/16/2019
1.02%
703,113.54
2.60%
4,593.76
(6,787.84)
NR
0.61
4581XOCX4 Inter -American Dev Bank Note
290,000.00
04/05/2017
289,312.70
98.84
286,639.77
1.30%
Aaa/AAA
1.28
1.625% Due 5/12/2020
1.70%
289,715.56
2.55%
1,034.13
(3,075.79)
AAA
1.25
4581XOCD8 Inter -American Dev Bank Note
350,000.00
08/05/2016
363,261.50
99.18
347,116.35
1.58%
Aaa/AAA
1.78
2.125% Due 11/9/2020
1.21%
355,521.36
2.60%
1,694.10
(8,405.01)
AAA
1.72
45950KCMO International Finance Corp Note
215,000.00
01/18/2018
214,367.90
99.36
213,626.37
0.97%
Aaa / AAA
1.99
2.25% Due 1/25/2021
2.35%
214,582.45
2.58%
80.63
(956.08)
NR
1.93
45950KCI7 International Finance Corp Note
275,000.00
11/09/2016
268,576.00
96.60
265,644.50
1.20%
Aaa / AAA
2.47
1.125%Due 7/20/2021
1.64%
271,624.87
2.56%
94.53
(5,980.37)
NR
2.41
4581XOCW6 Inter -American Dev Bank Note
345,000.00
01/10/2017
344,575.65
98.74
340,646.10
1.54%
Aaa / NR
2.97
2.125% Due 1/18/2022
2.15%
344,748.55
2.57%
264.74
(4,102.45)
AAA
2.85
2,195,647.75
2,149,998.79
9.75%
Aaa/AAA
1.63
Total Supranational
2,175,000.00
1.53%
2,179,306.33
2.58%
7,761.89
(29,307.54)
AAA
1.58
US CORPORATE
53245781`4 Eli Lilly & Co Note
500,000.00
09/08/2016
509,180.00
99.89
499,438.50
2.27%
A2 / AA-
0.12
1.95% Due 3/15/2019
1.20%
500,422.30
2.85%
3,683.34
(983.80)
A
0.12
91159HHH6 US Bancorp Callable Note Cont
500,000.00
07/12/2016
512,145.00
99.90
499,479.00
2.27%
Al/A+
0.23
3/25/2019
1.31%
500,994.12
2.63%
2,933.34
(1,515.12)
AA-
0.23
2.2% Due 4/25/2019
594918BN3 Microsoft Note
410,000.00
08/01/2016
409,577.70
99.27
407,016.43
1.85%
Aaa/AAA
0.52
1.1% Due 8/8/2019
1.14%
409,927.50
2.52%
2,167.31
(2,911.07)
AA+
0.51
Chandler Asset Management - CONFIDENTIAL Paee 5 Execution Time: 2/3/2019 3:06:34 PM