March 25, 2016 at 10:51am
The Council has agreed to hire a new Chief Investment Advisor.
Additionally, it has agreed to update FWs 20 year old investment strategy. A new investment policy will create 2 portfolios, short and long term. The short term portfolio will have a Weighted Average Maturity of 2.5 years with a max maturity not to exceed 5 years. The Long term portfolio will have a Weighted Average Maturity no more than 7.5 years, with a stated maturity not to exceed 10 years.
Bottom line, this should net our city an additional ~$18MM annually.