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Sue Horgan <br />Assistant Treasurer -Tax Collector <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 October 31, 2020. <br />The average daily portfolio balance for October was $2.753 Billion. The balance is rising as <br />we begin the, property tax payment season. <br />The net annualized percentage yield for October was 0.736%, another decrease from <br />September. There were no addonal 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 October, the portfolio's net percentage yield continued to exceed all three benchmarks, <br />shown at the far right of Exhibit 5. As I look at Exhibit 5, 1 would say that the percentage yield <br />0 the Wells Fargo Heritage Fund and CalTrust have probably already bottomed out below <br />0,50%, while the others, including ours, will continue to drop so long as interest rates do not <br />rise significantly. <br />800 South Victoria Avenue, Ventura, California 93009-1290 <br />www,venturapropertytax..org (805) 654-3734 <br />