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Finance
Department
Investments
City of Orlando Investment
Policy
Operating
Portfolio Quarterly Report
The
City is highly proactive in the management of its investment
assets. Staff manages internally a liquidity and small core
portfolio of about 15% of total operating investments. Daily cash
flow is also internally managed to maximize utilization. The
remaining 85% has been allocated to five external specialty investment
managers. These managers invest in the traditional domestic high grade
government and corporate securities and, to a limited extent, select
corporate securities of lower ratings or special put feature bonds,
mortgage securities, hedged foreign investment grade and emerging market debt (Investment
Policy).
Staff
coordinates all financial reporting on the individual portfolios,
evaluates and recommends policy changes and monitors and coordinates all
investment activities and cash flows.
Performance
is measured on a total return (market value) basis, measured against a number of
comparable investment indices and measured against each manager's peer
group for short and
long-term investment periods.
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