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-.9dEsubm. TREASURER -TAX COLLECTOR <br />To" <br />or VENTURA COUNTY STEVEN HINTZ <br />TREASURER <br />TAX COLLECTOR <br />Sue Horgan <br />Assistant Treasurer -Tax Collector <br />April 13, 2021 <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 February 28, 20219 <br />RECOMMENDATION: Receive and File <br />FISCAUMANDATES IMPACT: None <br />DISCUSSION: <br />This report covers the one-month period ending February 28, 2021. <br />The average daily portfolio balance for February was $3.265 Billion. The balance will taper off <br />slightly until April/May, when it will probably reach $3.5 Billion after the spring secured property tax <br />payments. <br />The annualized percentage yield, net of administrative fees, for February was 0.435%, a slight <br />increase from January. There were no additional rate cuts by the Federal Open Market Committee <br />and because most of the volatility has gone out of the interest rate market, yields have steadied. <br />There are suggestions that the market has hit bottom and that yields will rise slightly in 2021. 1 am <br />hopeful but not confident in those suggestions. <br />In February, the portfolio's net annualized percentage yield exceeded 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 of <br />our benchmarks is near a bottom: at 0.050% for Wells Fargo Heritage Fund, at 0.220% for CalTrust, <br />and at 0.407% for LAIF. <br />Going forward, if the current portfolio investments were all held to maturity, the portfolio's <br />approximate yield to maturity would be 0.44%, a decline from January of just I basis point. <br />800 South Victoria Avenue, Ventura, California 93009-1290 <br />www.venlurepropedytax org (806) 654-3734 <br />