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Beginning Balance <br />$17,504,408,042.65 <br />Average Daily Portfolio <br />Effective Yield <br />LOCAL AGENCY INVESTMENT FUND <br />Summary of Activity <br />May 2001 <br />Deposits Withdrawals <br />$1,844,186,850.00 $1,562,934.304.98 <br />POOLED MONEY INVESTMENT ACCOUNT <br />Summary of Investment Data <br />A Comparison of May 2001 with May 2000 <br />(Dollars in Thousands) <br />May 2001 May 2000 <br />$49,112,843 <br />5.328 <br />Average Life (month end In days) 170 <br />$41,986,849 <br />6.190 <br />187 <br />Month End Balance <br />$17,785,660,587.67 <br />Ctonne <br />+$7,125,994 <br />-17 <br />ATTENTION LAIF CONFERENCE PARTICIPANTS <br />This year's Local Agency Investment <br />Fund conference format will begin with <br />the conference on Thursday, <br />September 27, 2001, at the Sacramento <br />Convention Center. A post -conference <br />tour of the State Treasurer's Office <br />Investment Division is scheduled the <br />following day, Friday, September 28, <br />2001. <br />The conference program will feature <br />a national economic outlook by Wayne <br />D. Angell, Chief Economist for Bear <br />Stearns & Co., Inc., and former member <br />of the Board of Governors for the Federal <br />Reserve. The luncheon keynote speech <br />will be delivered by State Treasurer Philip <br />Angelides. Also included will be <br />discussions relating to the Pooled Money <br />Investment Account (PMIA), the <br />Investment Division, LAIF's specific <br />goals and objectives for the coming year, <br />panels on credit analysis, and an update <br />on AB943 and other legislation. <br />The post -conference tour will provide <br />an opportunity to observe the trading <br />by the State Treasurer's Office invest- <br />ment staff. Two tour times are tenta- <br />tively scheduled. Tour 1 starts at 7:00 <br />a.m. and ends at 9:00 a.m. Tour 2 starts <br />at 9:00 a.m. and ends at 11:00 a.m. <br />Tour 1 will observe the cash trading as it <br />occurs and Tour 2 will be an overview of <br />the trading session. Registration for the <br />tours will be on a first-come, first-served <br />basis, as space will be limited. <br />The deadline to register for the <br />conference is September 14, 2001. The <br />registration fee is $100.00 per person. <br />Registration materials will be posted at <br />www.treasurer.ca.gov, For questions <br />regarding the conference or post - <br />conference tour please contact LAIF staff <br />at (916) 653-3001 or e-mail LAIF <br />Conference Coordinator Marian Yee at <br />myee@treasurer.ca.gov. <br />Newsletter continues on page 2 <br />