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STEVEN HINTZ <br />TREASURER <br />TAX COLLECTOR <br />Sue Horgan <br />Assistant Treasurer -Tax Collector <br />November 10, 2020 <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 September 30, 2020. <br />RECOMMENDATION: Receive and File <br />FISCAUMANDATES .... IMPACT: None <br />.DISCUSSION,.,, <br />This report covers the one-month period ending September 30, 2020. In September, the <br />Standard and Poor' s ratings team performed its due diligence visit for the purpose of issuing a <br />ratings report in December. No serious issues were raised. <br />The average daily portfolio balance for September was $2.646 Billion. The balance is <br />steadying as we come into the property tax payment season. <br />The net annualized percentage yield for September was 0.958%, another decrease from <br />August. There were no additional rate cuts by the Federal Open Market Committee and <br />although most of the volatility has gone out of the interest rate market, yields continue to <br />decline. <br />In September, the portfolio's net percentage yield continued to exceed all three <br />benchmarks, shown at the far right of Exhibit 5. As I look at Exhibit 5, 1 would say that the <br />percentage yield of the Wells Fargo Heritage Fund and CalTrust have probably already <br />bottomed out below 0.50%, while the others, including ours, will continue to drop so long as <br />interest rates do not rise significantly. <br />800 South Victoria Avenue, Ventura, California 93009-1290 <br />www.venturapropertytax,org (805) 654-3734 <br />