CCP 04-27-1992 - Laserfiche WebLink

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. The repor t shall compare the total ra te of r e tur 11 V-Ji th o thei- benchmarks- This compares to the average ra te for a 2 year US Treasury bill for 1991 of 6.45%. The repar t sha 11 contain a discussion of the ou t look for interest rates and the economic trend for the upcominq vear investment strateqies to be imp lemen ted and bud,getarv expectations for investment lncome- The outlook for interest ra tes for 1992 1S essentially flat. Our inves tmen t advisors: Mr. Gary Jeub of Piper Jaffray and Hopwood, and Mr. Richard Know 1 ton of Shearson Lehman, both feel that there may be a s 1 ig h t reduc tion 1n ra tes 1n the near term with a very gradual increase as the economy beg ins to recover from the recession during 1992. The es t ima ted annualized rate of return for 1992 should be 1n the range of 6.5% to 7%. . I believe con tinua tion of our presen t strategy 1S appropr ia te and expect the average annualized rate of return for our por tfo 1 io to exceed the benchmar k 2 year US Treasury Bi 11 average rate by about 1 1/2% to 2% for the year 1992. I have discussed this repor t with the Finance Committee, and am herew i th submitting this Annual Report to the City Council pursuan t to the annual repor ting requirement of the Investment Policy. Fran k C. Green Treasurer March 30, 1992 . Page ~ '"