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snx <br />TREASURER-TAX COLLECTOR <br />VENTURA COUNTY <br />�.x STEVEN H#NTZ <br />TREASURER <br />TAX COLLECTOR <br />Sue Horgan <br />Assistant Treasurer -Tax Collector <br />February 5, 2019 <br />Ventura County Board of Supervisors <br />800 South Victoria Avenue <br />Ventura, CA 93009 <br />SUBJECT: Receive and File Report of Investments, Including Market Values for <br />Investments for the Month Ending December 31, 2018; and Summary Report of <br />Investments for Calendar Year 2018. <br />RECOMMENDATION: Receive and File <br />FISCALIMANDATES IMPACT: None <br />DISCUSSION: <br />This report covers the one-month period ending December 31, 2018; and includes a summary <br />report covering the calendar year 2018. The report reflects continuing positive trends in the <br />investment portfolio results. <br />PART I --- Report for the month ending December 31, 2018 <br />The average daily portfolio balance for December was $2.726 Billion, which exceeds the highest <br />prior December average balance ever, by $339 Million. It is an increase of $429 Million over the <br />November balance. It also exceeds the prior highest portfolio balance ever, by $125 Million. I <br />expect the balance to decline slightly until the April 2019 secured property tax collection. It is likely <br />that the April 2019 balance will approach $3 Billion. <br />The annualized percentage yield for December was 2.483%, an increase of 0.05% over <br />November. I no longer expect dramatic monthly increases in annualized yield. The Federal Open <br />Market Committee is no longer signaling frequent interest rate increases, if any at all. The interest <br />rate market has shown declines recently. As I write this report in early January I believe our <br />annualized yield will remain steady in the 2.50% range for at least a few months. <br />Going forward, if the current pool investments were all held to their maturity, the pool's <br />approximate yield to maturity is 2.50% and holding steady. <br />The total net earnings for December were $5.750 Million, an increase of $1.157 Million over <br />November. I expect total net earnings to remain stable. <br />800 South Victoria Avenue, Ventura, Calitomia 93009-1290 <br />wwa.vanturep-Wy--g (805)8543734 <br />