Thursday, March 24, 2010 – 10:45 a.m.
San Bernardino County’s investment pool continues to maintain high ratings and stability in its investment choices.
As of February 28, 2011 the pool, valued at $4,626,267,533.57, was actually reflecting an unrealized gain in the market value of securities held of $4.6 million.
The county policy is to hold investment instruments until maturity.
The downside of investing in high quality investments is yield and duration.
The current yield earned by the pool was just 0.96%, with the average investment maturity at just 413 days or 1.01 years.
To view the February 28, 2011 summary, click here: Investment Pool Summary 02/28/2011
The most recent pool ratings are as follows:
The San Bernardino County Treasury Pool is rated annually by each of the three major rating agencies. Currently, the pool is assigned the following ratings:
Fitch IBCA: AAA / V1
Moody’s Investor Service: Aaa / MR1
Standard & Poor’s: AAAf / S1+
If there is that much money, then I want my subsidy money to continue.
How fast will this start to draw down when Victorville goes bankrupt?
LSW, isnt Victorville a city? What do they have to do with the County Retirement System?
It’s all CalPERS as far as I know, so same retirement system. The investment pool on the other hand is what I was figuring would be affected by the reports that Victorville, one of the cities in the County that must also be participating in the same investment pool, is going to be insolvent by the end of this fiscal year (June 30).
LSW: The county investment pool is the investments that the county makes with revenues they receive. It has nothing to do with PERS or the county retirement system, each of which have their own separate investment funds. Unless the county somehow invested in the city of VV there should be no impact on the county investment pool.