Treasury Oversight Committee May 2, 2014 City Hall - Room 140 1 Dr. - - PowerPoint PPT Presentation

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Office of the Treasurer & Tax Collector City and County of San Francisco Jos Cisneros, Treasurer Pauline Marx, Chief Assistant Treasurer Michelle Durgy, Chief Investment Officer Treasury Oversight Committee May 2, 2014 City Hall - Room 140

SLIDE 1

Treasury Oversight Committee

May 2, 2014

Office of the Treasurer & Tax Collector City and County of San Francisco

Pauline Marx, Chief Assistant Treasurer Michelle Durgy, Chief Investment Officer

José Cisneros, Treasurer

City Hall - Room 140 ● 1 Dr. Carlton B. Goodlett Place ● San Francisco, CA 94102-4638 Telephones: 415-554-4487 & 415-554-5210 ● Facsimile: 415-554-5660

SLIDE 2

Economic & Market Overview Pooled Fund Review March 2014 Monthly Report 3 4-6 separate handout

SLIDE 3

Source: Bloomberg

0.5%

0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 3/10 3/11 3/12 3/13 3/14

Consumer Price Index

CPI Year-over-Year Change Core CPI Year-over-Year Change 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0%

250K

0K 250K 500K 3/10 3/11 3/12 3/13 3/14

Non-Farm Payrolls and Unemployment Rate

Non-Farm Payrolls Unemployment Rate

Key Economic Data

100 150 200 2/10 2/11 2/12 2/13 2/14

S&P/Case-Shiller Home Price Indices

20 Metro Composite San Francisco Area 0.0% 1.0% 2.0% 3.0% 4.0%

Gross Domestic Product

GDP Year-over-Year Change

SLIDE 4

1,500 2,250 3,000 3,750 4,500 5,250 6,000 6,750

3/31/2011 3/31/2012 3/31/2013 3/31/2014

$ Millions

Money Market Funds Medium Term Notes Commercial Paper Banker's Acceptances Negotiable CDs Public Time Deposits State/Local Agencies TLGP Federal Agencies U.S. Treasuries

Portfolio Comparison

8.6% 58.5% 18.9% 8.8% 1.1% 15.8% 65.4% 7.3% 0.7% 7.6% 3.0% 14.2% 64.3% 4.4% 5.5% 10.2% 67.7% 1.9% 10.6% 6.0% 1.8% 1.9% 3.4% 0.2% 0.3% 1.9% 0.1% 1.0% 5.3% 4.3%

SLIDE 5

0.00% 0.30% 0.60% 0.90% 1.20% 1.50% 1.80% 200 400 600 800 1,000 1,200 February 2014 Earned Income Yield Weighted Average Maturity (in days) Name of Fund Portfolio Size* ($ mns) Los Angeles County $23,220 LAIF 20,700 San Diego County 7,324 City and County of San Francisco 6,377 Riverside County 5,236 Orange County 3,199 Sacramento County 2,932 Fresno County 2,410 Contra Costa County 2,057 Sonoma County 1,489

Sacramento San Diego LAIF Contra Costa Riverside Sonoma San Francisco Fresno Los Angeles

GIP Index 30-Day Gross Yield February 2004 – February 2014 0% 1% 2% 3% 4% 5% 6% Feb 04 Feb 06 Feb 08 Feb 10 Feb 12 Feb 14 San Francisco Earned Income Yield GIP Index 30-Day Gross Yield

County Pooled Fund Statistics

Sources: Bloomberg, Sacramento County as of 11/30/2013

5 Orange * as of February 2014

SLIDE 6

Pool Participant Equity Balance Percent of Fund General Fund/Special City Funds/Internal Services Funds $ 1,484,144,710 20.8% San Francisco Public Utilities Commission 1,413,112,776 19.8% Facilities and Capital Projects Funds – General 871,157,825 12.2% San Francisco Unified School District 742,997,798 10.4% San Francisco Municipal Transportation Authority 735,139,085 10.3% San Francisco International Airport 684,634,727 9.6% San Francisco General Hospital and Laguna Honda Hospital 283,305,024 4.0% Successor Agency – Former SFRDA 217,539,039 3.0% Port of San Francisco 112,860,783 1.6% Pension and Retiree Health Care Trust Funds 110,810,061 1.6% San Francisco Community College District 94,834,293 1.3% San Francisco County Transportation Authority 92,003,496 1.3% Other agencies (incl. Transbay Joint Powers, Trial Courts) 301,483,694 4.2% Totals $ 7,144,023,312 100.0%

Investment Fund Participants

As of April 29, 2014

Source: Cognos Impromptu as of 4/29/2014