D 2014 2014 Invest… · Retail sales grew by 0.7% in November, exceeding expectations. Lowered...
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KEN MILLER OKLAHOMA STATE TREASURER MONTHLY INVESTMENT PERFORMANCE REPORT DECEMBER 2014
Transcript of D 2014 2014 Invest… · Retail sales grew by 0.7% in November, exceeding expectations. Lowered...
Ken Miller
OKlahOMa State treaSurer
MOnthly inveStMent
PerfOrMance rePOrt
DeceMber 2014
February 5, 2015 To the People of Oklahoma: I am pleased to issue the December monthly investment performance report for the Office of the State Treasurer. I trust you will find it thorough and in keeping with my commitment to provide full and complete disclosure of all activities within my office. As always, my staff and I are available to answer any questions you might have.
Market Conditions In 2014 Ten-year Treasuries outperformed 2-year notes by the most since 2005. Treasuries had the biggest returns since 2011, which was attributed to global deceleration and low inflation. The yield curve, the difference between yields on 2-year notes and 30-year bonds, ended the year at 208 basis points which reflected continuing flattening of the curve. The 2-year Treasury ended the month at .66%, the 5-year at 1.65%, the 10-year at 2.17% and the 30-year finished at 2.75%. The Dow Jones Industrial Average ended December at 17,823, the S&P 500 Index came in at 2,058 and the Nasdaq Composite Index at 4,236. The Dow, S&P and Nasdaq reported 2014 returns of 7.5%, 11.4% and 18% respectively. At the December 17 Federal Open Market Committee meeting Chairman Yellen said the Committee would continue a patient approach in regard to the timing of any interest rate increases. The overall outlook had not changed much from earlier assurances that rates would stay low for a considerable time.
Economic Developments The unemployment rate for November remained at 5.8%, which was down from 7.0% a year earlier. The private sector added 314,000 jobs and the government added 7,000 workers during the month, which reflected the most jobs created in a single month since January 2012. The median length of unemployment was 12.8 weeks, down 4.2 weeks from a year earlier. The November Consumer Price Index (CPI) slipped to 1.3%, which was attributed to a 3.8% decline in energy prices. The Core CPI, excluding food and energy, advanced by 0.1% and rose 1.7% year-over-year. Producer Prices fell in November, with the headline number decreasing by -0.2% and the core index fell by -0.1%. The final demand Producer Price Index reflected a reduction in energy and food. Retail sales grew by 0.7% in November, exceeding expectations. Lowered energy costs energized consumers to increase purchases of electronics, clothing, and other holiday gift items. Sales of automobiles came in strong at 17 million units, a gain of 1.7%. In addition, the purchase of building materials rose by 1.4% for the month. The Commerce Department reported that personal income rose 0.4% in November and increased 4.2% from a year earlier, the largest annual income gain since December 2012.
The National Association of Realtors (NAR) reported November sales of previously owned homes decreased to a seasonally adjusted annualized rate of 4.93 million units, which reflected a 6.1% decrease from the previous month. Reported home sales were still 2.1% above the November 2013 levels. The Commerce Department’s third gross domestic product (GDP) revision for the third quarter of 2014 was revised up to 5% from 3.9%. The revision represented the most GDP growth since the same period in 2003.
Portfolio Commentary: Performance, Diversification, and Strategy Yield on the Treasurer’s portfolio was 1.79% in December and the weighted average maturity was 996 days. The year-to-date monthly average investable base was $4.18 billion. Portfolio diversification continues to be sound. U.S. Treasury Inflation-Protected Securities represented 1% of holdings, and U.S. government sponsored enterprises accounted for approximately 43% of the portfolio. Mortgage-backed securities were 39%, municipal bonds were 1% and Certificates of Deposit represented 3% of assets. Money market mutual funds and commercial paper sweep were 7%, and the allocable portion of sales and use tax to General Revenue collected by the Oklahoma Tax Commission was 3%. State Bond Issues (at 2%) and foreign bonds (at less than 1%) made up the balance of funds invested. In keeping with the State’s statutory investment objectives, the portfolio strategy continues to seek safety, liquidity, and return on investment, in that order. Laddered bond maturities and a buy-and-hold strategy were utilized. Market observation for investment opportunities were considered in order to maximize income within investment parameters and the current low interest rate environment.
Collateralization All funds under the control of this office requiring collateralization were secured at rates ranging from 102% to 110%, depending on the type of investment.
Payments, Fees, and Commissions
All securities were purchased or sold on a net basis utilizing competitive bidding where practicable, with no additional fees or commissions known to the State Treasurer. Bank fees and mutual fund operating expenses are detailed in the attached pages, as is the earnings split between the Treasurer and the master custodian bank on securities lending income.
Total Funds Invested
Funds available for investment, at cost basis, include the State Treasurer’s investments at $4,113,279,958 and State Agency balances in OK Invest at $2,279,325,283 for a total of $6,392,605,241. Best regards,
KEN MILLER STATE TREASURER cc: The Honorable Mary Fallin, Governor The Honorable Brian Bingman, President Pro Tempore The Honorable Jeff Hickman, Speaker of the House The Honorable Scott Pruitt, Attorney General The Honorable Gary Jones, State Auditor and Inspector Members: Cash Management and Investment Oversight Commission
Treasurer'sInvestments
Position Report
Weighted Average Maturity
Yield at Purchase Cost Basis
Percent of Portfolio *Market Value
GENERAL REVENUE
U.S. TREASURIES AND AGENCIES Treasury TIPS 850 1.35% 46,605,625$ 1.13% 55,802,515$ Agencies 491 0.62% 1,755,748,900 42.68% 1,750,204,945 Mortgage Backed 1916 3.43% 1,592,930,887 38.73% 1,846,691,388
1165 1.95% 3,395,285,411 82.54% 3,652,698,848
CERTIFICATES OF DEPOSIT 61 0.28% 115,307,906 2.80% 115,307,906
OK INVEST Tax Distribution - OK Invest 1 1.79% 142,721,952 3.47% 142,721,952
1 1.79% 142,721,952 3.47% 142,721,952
MONEY MARKET MUTUAL FUNDS 1 0.04% 313,903,353 7.63% 313,903,353
STATE BOND ISSUES 50 2.21% 59,500,000 1.45% 59,500,000 (Private Placement)
MUNICIPAL BOND ISSUES 1828 4.75% 55,683,450 1.35% 61,263,709
FOREIGN BONDS 980 1.42% 30,877,886 0.75% 30,877,886
LINK DEPOSIT
Total Investment Portfolio 996 1.79% 4,113,279,958$ 100% 4,376,273,654$
*J. P. Morgan Chase Co. furnished market value data related to Securities. Other investments including Certificates of Deposit,Money Market Mutual Funds, and State Bond Issues were valued at 100% of purchase price.
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Portfolio CompositionDecember 31, 2014
Principal Percent
Treasury TIPS/Notes
Money Market Mutual Funds*
Certificates of Deposit
Mortgage Backed
State Bond Issues**
U.S. Agencies
Municipal Bond Issues
OK Invest
Foreign Bonds
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p
U.S. Treasury Bonds/Notes - 0.00%U.S. Treasury TIPS 46,605,625 1.13%U.S. Agencies 1,755,748,900 42.68%Mortgage Backed 1,592,930,887 38.73%Certificates of Deposit 115,307,906 2.80%OK Invest 142,721,952 3.47%Money Market Mutual Funds* 313,903,353 7.63%State Bond Issues** 59,500,000 1.45%Municipal Bond Issues 55,683,450 1.35%Foreign Bonds 30,877,886 0.75%
TOTAL 4,113,279,958$ 100.00%
* JPMorgan - U.S. Government Capitial Class - Fund 3164 113,514,500 Goldman Sachs - FS Government Institutional - Fund 465 46,319,589 Invesco - Government and Agency Portfolio 81,280,006 JPMorgan - Commercial End of Day Sweep 72,789,258
** OSLA 2001A-4 19,500,000 ** OIFA Refund Bonds 40,000,000
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Transactions by Broker
Broker Tax ID# City State Purchases Sales(Cost) (Cost)
No Trading Activity
Total Securities -$ -$
Certificates of Deposit 76,104,000
TOTAL 76,104,000$ $ -
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Transaction by Security Type
Security Purchases Sales(Cost) (Cost)
No Trading Activity
0 0
Certificates of Deposit 76,104,000
TOTAL 76,104,000 $ 0
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Earnings by Security Type
Interest Earned Net of
Amortization*
Realized Gain
(Loss) Total
Earnings
Weighted Average
Yield
U.S. Treasury Notes/Bonds/Tips 58,747$ $ - 58,747$ 1.35%U.S. Agencies 1,035,914 1,035,914 0.63%Mortgage Backed 5,107,023 5,107,023 3.34%
6,201,684 - 6,201,684 1.86%
Certificates of Deposit - - - 0.00%
OK Invest 101,639 - 101,639 1.76%
Money Market Mutual Funds 9,626 - 9,626 0.06%
State Bond Issues 292,811 - 292,811 2.38%
Municipal Bond Issues 249,436 249,436 4.79%
Foreign Bonds 39,509 - 39,509 1.42%
TOTAL 6,939,049$ $ - 6,939,049$ 1.77%
*Includes accrued interest
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Comparison of Actual Earnings to Estimated EarningsFiscal Year to Date
Revenues Actual
Revenues Estimate Variance Percent
Investable Base Actual
Investable Base Estimate Variance Percent
Securities 25,474,204 25,474,203 1 0.00% 3,606,309,403 3,215,977,638 390,331,765 12.14%
Certificates of Deposit 132,568 132,600 (32) -0.02% 110,972,631 96,000,000 14,972,631 15.60%
OK Invest 1,124,644 1,122,000 2,644 0.24% 73,667,009 67,129,173 6,537,836 9.74%
Money Market MutualFunds incl CP sweep 55,361 56,835 (1,474) -2.59% 233,803,857 325,892,014 (92,088,157) -28.26%
Foreign Bonds 362,226 362,500 (274) -0.08% 31,482,260 30,000,000 1,482,260 4.94%
State Bonds 505,814 506,000 (186) -0.04% 61,428,495 62,900,000 (1,471,505) -2.34%
Municipal Bonds 2,303,882 2,323,519 (19,637) -0.85% 62,209,656 58,749,000 3,460,656 5.89%.
29,958,700 29,977,657 (18,957) -0.06% 4,179,873,311 3,856,647,825 323,225,486 8.38%
In December 2014, the Treasurer estimated earnings to the Board of Equalization for Fiscal Year 2015. The amount estimated was $58,000,000. Year-to-date actual earnings are recorded on a cash basis of accounting.
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Explanation of Performance ComparisonDecember 31, 2014
The following page presents market rates of return on the Securities portion of the General Accountand of the State's aggregated State Agency Accounts. The figures, which are dollar- and time-weighted, where appropriate, are calculated using the percentage change in market value (inclusive of accrued income) from the end of the prior month to the end of the reporting month. To ensure theintegrity of the data, this information is provided by the Treasurer's custodian bank acting in itscapacity as an external third party. As such, performance measurement is presently confined to those investments which are custodied at J. P. Morgan Chase & Co.
The Treasurer's office is trying to develop a method to report rates of return on all investmentinstruments in the State's portfolio. This is in an effort to report return data in a manner recommended on September 15, 1994, by the Working Group of the Cash Management and Investment Oversight Commission. However, there are technical and conceptual challenges toexpanding performance measurement to other portions of the portfolio. Attempting to applymarket-base pricing calculations to instruments which do not trade, such as Certificates ofDeposit, presents difficulty which is both conceptual and technical in nature.
Benchmark data is also provided on the following page.
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Performance Comparison*December 31, 2014
Month** Fiscal YearTo Date**
Securities: General Revenue Account -0.08% 0.73%
Securities: Agency-directed -0.80% 3.55%
Benchmark: ML 1 year US Treasury Note Index -0.10% 0.03%
* Analysis by J. P. Morgan Chase Co.
** Represents dollar- and time-weighted rates of return
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$3,500,000
$3,600,000
$3,700,000
$3,800,000
$3,900,000
$4,000,000
$4,100,000
$4,200,000
$4,300,000
(in
000
's)
Monthly Investable BaseDecember 2014 4,179,873,311
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$3,000,000
$3,100,000
$3,200,000
$3,300,000
$3,400,000
$3,500,000
FY11 FY12 FY13 FY14 FY15
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Banking, Custody and Other Fees
DEPOSITORY BANK TAX ID # CITY STATE AMOUNTArmstrong Bank 73-0496410 Vian/Muskogee OK 48.54 BancFirst 73-1332918 OKC OK 10,048.93 Central National Bank 73-0177591 Alva OK 112.37 Central National Bank 73-0783952 Enid OK 42.20 Citizens Security Bank 73-0183780 Bixby OK 36.83 Federal Reserve Bank 44-0545874 KS OK 1,354.59 First Bank & Trust 73-0541333 Broken Bow OK 25.40 First National Bank 73-0125373 Altus OK 5.34 First National Bank 73-0188428 Clinton OK 58.52 First National Bank 73-0188428 Clinton OK 47.82 JP Morgan/Chase, Oklahoma, NA 73-0777610 OKC OK 30,351.61 The Bank N.A. 73-0344910 McAlester OK 8.50 EARNED CREDIT ALLOWANCE
TOTAL 42,140.65$
Bank service charges include actual amounts invoiced as of the report date. There has been no accrual madefor de minimis bank service charges owed in active bank accounts.
The State Treasurer participates in the following money market mutual funds. The fund managers are compensated for certain operating expenses by deducting a fee from the gross interest earnings.
Fund Manager TIN Fee (Annualized basis) AmountInvesco 76-0574220 0.12% 7,828.39$ Bond Logistix LLC 51-0404065 0.035% 2,283.20$ JP Morgan Securities 23-2694160 0.14% 8,652.46$ Goldman Sachs 06-1287410 0.11% 4,995.25$
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BOSC, Inc. 73-1275307 0.07% 3,178.80$
NOTE: Pursuant to Oklahoma State Statute Title 62, Section 89.7, all known fees are to be reported. Themoney market mutual fund fees reported above are shown at the contracted rate. Due to the current lowinterest rate environment, a portion of these fees have been voluntarily waived by the provider.An adjustment to actual fees will be presented in the Annual Report.
The State Treasurer participates in a Securities Lending Program with J. P. Morgan Chase & Co. actingas lending agent. J. P. Morgan retains 15% of the revenues generated as compensation for services.Its share for the month was $3,958.42. Pursuant to Oklahoma State Statute Title 62 Section 90, the StateTreasurer retains the first $450,000 of securities lending revenues in a revolving fund. These funds areused to pay custody and other banking fees. Any revenue not needed for this purpose is deposited tothe General Fund.
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Agency DirectedInvestments
Transactions by BrokerState Agency Directed
December 31, 2014
Broker Tax ID# City State Purchases Sales(Cost) (Cost)
No Activity $ -
TOTAL -$ $ -
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Transactions by Security TypeState Agency Directed
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Security Purchases Sales(Cost) (Cost)
No Activity $
TOTAL -$ $ -
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Agency Directed InvestmentsPosition Report - Securities
December 31, 2014
FUND/ AGENCY SECURITY INTEREST YIELD DAYS TO PAR COST MARKET
AGENCY TYPE RATE MATURITY VALUE
1420A Langston University Mutual Fund 686,746.66$ 686,746.66$ 1,747,194.42$
1150A University of Science and Arts U.S. Treasury Notes/Bonds 7.25 6.82 501 170,000.00 177,942.19 185,691.00
WAM = 73 177,942.19 185,691.00
711-420 Langston University Mutual Fund 422,147.00 422,147.00 630,586.88
1,278,893.66$ 1,286,835.85$ 2,563,472.30$
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Agency Directed InvestmentsPosition Report - OK Invest
December 31, 2014
ACCOUNT FUND/ AGENCY INTEREST DAYS TO COST/MARKETAGENCY RATE MATURITY VALUE
2113101 1131A Department of Corrections 1.7875 1 14,558.272113104 1131D Department of Corrections 1.7875 1 2,622.872113107 1131G Department of Corrections 1.7875 1 7,086.972113110 1131J Department of Corrections 1.7875 1 425.912113112 1131L Department of Corrections 1.7875 1 1,052.602113119 1131S Department of Corrections 1.7875 1 (10.00)2113120 1131T Department of Corrections 1.7875 1 3,159.392113123 1131W Department of Corrections 1.7875 1 8,068.772113125 1131Y Department of Corrections 1.7875 1 4,306.142113201 1132A Department of Corrections 1.7875 1 5,465.492113204 1132D Department of Corrections 1.7875 1 73.602113206 1132F Department of Corrections 1.7875 1 338.752113208 1132H Department of Corrections 1.7875 1 23.002113301 1133A Department of Corrections 1.7875 1 1,473.192113401 1134A Department of Corrections 1.7875 1 4,968.692113501 1135A Department of Corrections 1.7875 1 12.002113503 1135C Department of Corrections 1.7875 1 5,161.932113801 1138A Department of Corrections 1.7875 1 3,681.632113901 1139A Department of Corrections 1.7875 1 (235.00)2114102 1141B Department of Corrections 1.7875 1 3,538.772118506 1185F Corportation Commission 1.7875 1 19,551,357.072137001 1370A OIFA 1.7875 1 30,520,808.982139001 1390A Compsource Oklahoma 1.7875 1 41,782,007.052139101 1391A Multiple Injury Trust Fund 1.7875 1 10,829,893.252141001 1410A Commissioners of the Land Office 1.7875 1 88,033,141.492142001 1420A Langston University 1.7875 1 11,564,673.422143500 1435 Oklahoma Lottery Commission 1.7875 1 9,761,832.692143501 1435A Oklahoma Lottery Commission 1.7875 1 1,459,987.582147704 1477D Oklahoma Bureau of Narcotics 1.7875 1 6,927,727.622151500 1515 OPERS 1.7875 1 413,589.202151501 1515A OPERS 1.7875 1 6,419,170.912151502 1515B OPERS 1.7875 1 (18,098.20)2151503 1515C OPERS 1.7875 1 207,254.582151504 1515D OPERS 1.7875 1 3,292,694.622151505 1515E OPERS 1.7875 1 41,156.082151506 1515F OPERS 1.7875 1 3,334.972151510 1515J OPERS 1.7875 1 58,905.152153001 1530A Panhandle State University 1.7875 1 3,831,092.962154501 1545A Department of Corrections 1.7875 1 1,942.992155701 1557A OK Police Pension 1.7875 1 24,419,829.652159001 1590A Department of Corrections 1.7875 1 1,942.362169502 1695B Tax Commission 1.7875 1 172,196,224.672169520 1695T Tax Commission 1.7875 1 686,286.832169521 1695U Tax Commission 1.7875 1 13,195,792.992174007 1740G State Treasurer 1.7875 1 521,709.132174010 1740J State Treasurer 1.7875 1 0.072174013 1740M State Treasurer 1.7875 1 0.092183006 1830F DHS - CSED 1.7875 1 10,833,881.817200039 200039 Oklahoma Boll Weevil Eradication 1.7875 1 892,966.237200320 200320 Department of Wildlife 1.7875 1 1,705,104.287200359 200359 OERB 1.7875 1 19,533,164.467200370 200370 OIFA 1.7875 1 5,225,260.277200390 200390 Compsource Oklahoma 1.7875 1 1,564,429.537200391 200391 Multiple Injury Trust Fund 1.7875 1 160,401.947200410 200410 Commissioners of Land Office 1.7875 1 17,615,228.117200435 200435 Oklahoma Lottery Commission 1.7875 1 2,136,030.227200515 200515 OPERS 1.7875 1 65,062.967200535 200535 Peanut Commission 1.7875 1 5.307200557 200557 Oklahoma Police Pension 1.7875 1 18.507200588 200588 Real Estate Commission 1.7875 1 774,441.197200830 200830 Department of Human Services 1.7875 1 433,611.907200875 200875 Oklahoma Wheat Commission 1.7875 1 1,403,591.457201825 201825 University Hospitals Authority 1.7875 1 3,696,300.617205090 205090 OMES Risk Management Division/DSC 1.7875 1 40,330,140.36
Note: Rate is net of 1.25 bps management fee
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Agency Directed InvestmentsPosition Report - OK Invest
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ACCOUNT FUND/ AGENCY INTEREST DAYS TO COST/MARKETAGENCY RATE MATURITY VALUE
7205270 205270 State Election Board 1.7875 1 225,919.987205320 205320 Department of Wildlife 1.7875 1 1,020,978.877205359 205359 Sustaining OK Energy Resources 1.7875 1 1,476,852.077205435 205435 Oklahoma Lottery Commission 1.7875 1 132,526.767205444 205444 Oklahoma LP Gas Research 1.7875 1 255,198.917205515 205515 OPERS 1.7875 1 668,119.287205563 205563 OK Bd for Private Vocational Schools 1.7875 1 459,393.307205630 205630 Oklahoma Department of Securities 1.7875 1 772,993.577205807 205807 Oklahoma Health Care Authority 1.7875 1 5,170,670.297210270 210270 State Election Board 1.7875 1 8,377,199.117210320 210320 Department of Wildlife 1.7875 1 3,007,163.037210350 210350 Oklahoma Historical Society 1.7875 1 25.757210400 210400 Office of Juvenile Affairs 1.7875 1 76,134.737210410 210410 Commissioners of Land Office 1.7875 1 5,298,634.257210580 210580 Property Distribution of DCS 1.7875 1 0.737210588 210588 Real Estate Commission 1.7875 1 257,321.817210645 210645 Conservation Commission 1.7875 1 6.967215320 215320 Department of Wildlife 1.7875 1 2,075,651.357215444 215444 Oklahoma LP Gas Research 1.7875 1 533,866.627215566 215566 Tourism & Recreation Department 1.7875 1 13,652,724.457215585 215585 Department of Public Safety 1.7875 1 3,036,015.057215670 215670 JD McCarty Center 1.7875 1 207,346.477216805 216805 Department of Rehabilitation Services 1.7875 1 730,189.637220090 220090 OSF Building Projest Fund 1.7875 1 104,993.297220320 220320 Dept of Wildlife Conservation 1.7875 1 1,867,784.767220585 220585 Department of Public Safety 1.7875 1 3,248,895.427220830 220830 Department of Human Services 1.7875 1 77,538.377225040 225040 Department of Agriculture 1.7875 1 812,337.257225830 225830 Department of Human Services 1.7875 1 3,478,830.377230220 230220 Oklahoma Crime Victims Compensation 1.7875 1 3,255,991.867230345 230345 Department of Transportation 1.7875 1 7,711,664.357230566 230566 Tourism & Recreation Department 1.7875 1 1,753,071.317230695 230695 Tax Commission 1.7875 1 5,142,875.197230807 230807 Health Care Authority 1.7875 1 36,355.777235605 235605 Regents for Higher Education 1.7875 1 9,935,399.857235695 235695 OTC Ad Valorem Admin Protest 1.7875 1 207,344.837240807 240807 Health Care Authority 1.7875 1 17,470,185.927244090 244090 OMES Dept of Central Services 1.7875 1 2,981,032.387244580 244580 Dept of Central Services 1.7875 1 23,745.517245807 245807 Health Care Authority 1.7875 1 16,465,959.917255090 255090 Department of Central Services 1.7875 1 930,716.897255585 255585 Oklahoma Dept of Public Safety 1.7875 1 102,993.607260090 260090 OMES Risk Management Division 1.7875 1 5,955,343.297260452 260452 OK Board of Mental Health 1.7875 1 90,183.647260580 260580 Risk Mgmt Dept of DCS 1.7875 1 120.007275740 275740 OST - SEED 1.7875 1 68,573.787280090 280090 OMES DCS Property Distribution 1.7875 1 1,610,325.417280345 280345 Department of Transportation 1.7875 1 1,360,956.927285345 285345 Department of Transportation 1.7875 1 256,412,358.417295090 295090 Emergency & Transportation 1.7875 1 3,164,664.247296150 296150 University of Science & Arts 1.7875 1 36.617315000 315000 EDGE Fund 1.7875 1 2,595,309.007315740 315740 EDGE Fund 1.7875 1 10,644.217360566 360566 Tourism & Recreation Department 1.7875 1 17,174,956.647402105 402105 OCIA 1.7875 1 150,956.627404105 404105 OCIA 1.7875 1 116,653.317405220 405200 District Attorneys Council 1.7875 1 8,142,136.287406105 406105 OCIA 1.7875 1 140,200.047408105 408105 OCIA 1.7875 1 515,977.987410105 410105 OCIA 1.7875 1 12,587.597410645 410645 Oklahoma Conservation Commission 1.7875 1 (106.51)7414105 414105 OCIA 2005C 1.7875 1 125,112.907415400 415400 Office of Juvenile Affairs 1.7875 1 842,288.667416000 416000 OSF - Oil Overcharge 1.7875 1 258,263.66
Note: Rate is net of 1.25 bps management fee
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December 2014
Agency Directed InvestmentsPosition Report - OK Invest
December 31, 2014
ACCOUNT FUND/ AGENCY INTEREST DAYS TO COST/MARKETAGENCY RATE MATURITY VALUE
7416160 416160 Department of Commerce 1.7875 1 3,083,406.037417105 417105 OCIA 1.7875 1 40,742.257419105 419105 OCIA 1.7875 1 12,566.677424105 424105 OCIA 1.7875 1 983,182.087426000 426000 OSF - Oil Overcharge 1.7875 1 2,157,924.677426160 426160 Department of Commerce 1.7875 1 3,984,371.357428105 428105 OCIA Endowed Chairs Fund 1.7875 1 958,690.707429105 429105 OCIA 1.7875 1 880,285.277430010 430010 Oklahoma State University 1.7875 1 2,918,861.527430011 430011 Oklahoma State University 1.7875 1 3,221,796.657430012 430012 Oklahoma State University 1.7875 1 2,597,759.067430013 430013 Oklahoma State University 1.7875 1 236,896.867430014 430014 Oklahoma State University 1.7875 1 1,771,914.997430015 430015 Oklahoma State University 1.7875 1 2,565,746.667430016 430016 Oklahoma State University 1.7875 1 150,936.227430420 430420 Langston University 1.7875 1 2,750,361.847430461 430461 Rogers State College 1.7875 1 1,292,836.787430505 430505 Northwestern Oklahoma State University 1.7875 1 339,217.297430665 430665 Southwestern Oklahoma State University 1.7875 1 2,164,546.067430760 430760 University of Oklahoma 1.7875 1 18,830,845.117430770 430770 OUHSC 1.7875 1 71,367,618.567430773 430773 Oklahoma State University 1.7875 1 2,734,793.507432105 432105 OCIA 2009A Construction Fund 1.7875 1 369,574.187433105 433105 Oklahoma Capitol Improvement Authority 1.7875 1 501,128.247434105 434105 Oklahoma Capitol Improvement Authority 1.7875 1 172,108.097436000 436000 OSF - Oil Overcharge 1.7875 1 2,366.717436105 436105 OCIA 1.7875 1 192,345.567437105 437105 OCIA 1.7875 1 192,287.527438105 438105 OCIA 1.7875 1 78,031.547440105 440105 OCIA Operations & Maintenance 1.7875 1 3,621.717442105 442105 OCIA 1.7875 1 299,278.477444835 444835 Water Resources Board 1.7875 1 6,942,155.327445835 445835 Water Resources Board 1.7875 1 2,271,831.287449105 449105 OCIA 1.7875 1 767,029.347455160 455160 Department of Commerce 1.7875 1 804,989.857460100 460100 Cameron University 1.7875 1 142.107460760 460760 University of Oklahoma 1.7875 1 149,457.717462105 462105 Capital Improvement 1.7875 1 490,945.387465105 465105 OCIA 2005A Admin 1.7875 1 37,306.207467105 467105 OCIA 2005B Admin 1.7875 1 32,979.347469105 469105 OCIA 1.7875 1 1,073,705.427470230 470230 East Central University 1.7875 1 65.457471835 471835 Water Resources Board 1.7875 1 576,995.397472835 472835 Water Resources Board 1.7875 1 34,763,635.537473835 473835 Water Resources Board 1.7875 1 24,503,688.487475120 475120 University of Central Oklahoma 1.7875 1 2,863.087475750 475750 Tulsa Community College 1.7875 1 5,309.167475770 475770 OUHSC 1.7875 1 0.377476760 476760 University of Oklahoma 1.7875 1 50,928,722.897477105 477105 OCIA 1.7875 1 64,912.517477120 477120 University of Central Oklahoma 1.7875 1 73,539.367480230 480230 East Central University 1.7875 1 400.517481230 481230 East Central University 1.7875 1 23.637482105 485105 OCIA 1.7875 1 1,247,716.447483633 843633 OCCC 2010 Bond 1.7875 1 6,966.327485014 485014 OKLAHOMA STATE UNIVERSITY 1.7875 1 3,665,900.857486010 486010 OKLAHOMA STATE UNIVERSITY 1.7875 1 31,454,703.527487105 487105 OCIA 1.7875 1 127,932.847488105 488105 OCIA 1.7875 1 955,302.277489105 489105 OCIA 1.7875 1 352,786.407490760 490760 OU ARRA 1.7875 1 527,136.697513410 513410 Commissioners of the Land Office 1.7875 1 437,505.067514410 514410 Commissioners of the Land Office 1.7875 1 4,074,178.857515410 515410 Commissioners of the Land Office 1.7875 1 5,786,431.70
Note: Rate is net of 1.25 bps management fee
Office of the State TreasurerMonthly Report
December 2014
Agency Directed InvestmentsPosition Report - OK Invest
December 31, 2014
ACCOUNT FUND/ AGENCY INTEREST DAYS TO COST/MARKETAGENCY RATE MATURITY VALUE
7600010 600010 Oklahoma State University 1.7875 1 7,392,419.437600120 600120 University of Central Oklahoma 1.7875 1 3,025,861.757600150 600150 University of Science & Arts 1.7875 1 710,043.937600230 600230 East Central University 1.7875 1 1,356,839.227600420 600420 Langston University 1.7875 1 1,044,861.937600485 600485 Northeastern State University 1.7875 1 1,637,138.177600490 600490 Northern Oklahoma College 1.7875 1 700,799.187600505 600505 Northwestern Oklahoma State University 1.7875 1 1,161,528.247600530 600530 Panhandle State University 1.7875 1 77,558.287600660 600660 Southeastern Oklahoma State Unversity 1.7875 1 225,878.857600665 600665 Southwestern Oklahoma State University 1.7875 1 1,504,240.067600760 600760 University of Oklahoma 1.7875 1 4,737,006.047650010 650010 Oklahoma State University 1.7875 1 3,225,771.497650120 650120 University of Central Oklahoma 1.7875 1 725,571.007650150 650150 University of Science & Arts 1.7875 1 1,411,484.637650230 650230 East Central University 1.7875 1 1,396,173.507650420 650420 Langston University 1.7875 1 3,431,833.037650485 650485 Northeastern State University 1.7875 1 896,458.047650490 650490 Northern Oklahoma College 1.7875 1 1,134,832.477650505 650505 Northwestern Oklahoma State University 1.7875 1 609,552.047650530 650530 Panhandle State University 1.7875 1 26,068.487650660 650660 Southeastern Oklahoma State Unversity 1.7875 1 94,103.517650665 650665 Southwestern Oklahoma State University 1.7875 1 284,073.507650760 650760 University of Oklahoma 1.7875 1 6,763,121.757700040 700040 Department of Agriculture 1.7875 1 9,965,998.417700041 700041 Western Oklahoma State College 1.7875 1 1,602,616.607700131 700131 Department of Corrections 1.7875 1 15,037,109.687700240 700240 Eastern Oklahoma State College 1.7875 1 1,195,795.047700461 700461 Rogers State College 1.7875 1 6,863,144.237700490 700490 Northern Oklahoma College 1.7875 1 6,622,169.387700606 700606 Ardmore Higher Education Center 1.7875 1 371,812.967700633 700633 Oklahoma City Community College 1.7875 1 4,579,670.617700660 700660 Southeastern Oklahoma State University 1.7875 1 1,479,718.947700760 700760 University of Oklahoma 1.7875 1 127,428,128.427700830 700830 Department of Human Services 1.7875 1 1,750,622.387701010 701010 Oklahoma State University 1.7875 1 26,412,836.547701091 701091 GO Bonds of 1992 - Admin Fund 1.7875 1 1,735.677701150 701150 University of Science & Arts 1.7875 1 607,168.607701400 701400 Office of Juvenile Affairs 1.7875 1 409,132.007701480 701480 Northeasten Oklahoma A&M College 1.7875 1 7,549,581.437701605 701605 Regents for Higher Education 1.7875 1 35,557,192.377701650 701650 Department of Veteran Affairs 1.7875 1 513,686.627701750 701750 Tulsa Community College 1.7875 1 947,232.237701770 701770 OUHSC 1.7875 1 391,127,360.107701805 701805 Department of Rehabilitation Services 1.7875 1 189,650.727701865 701865 Workers Compensation Commission 1.7875 1 5,984,913.787702120 702120 University of Central Oklahoma 1.7875 1 25,415,864.137702650 702650 Department of Veteran Affairs 1.7875 1 470,176.957703650 703650 Department of Veteran Affairs 1.7875 1 344,974.737704650 704650 Department of Veteran Affairs 1.7875 1 391,232.147704865 704865 Workers Compensation Commission 1.7875 1 51,065.707705505 705505 Northwestern Oklahoma State University 1.7875 1 178,842.507705650 705650 Department of Veteran Affairs 1.7875 1 318,362.867705865 705865 Workers Compensation Commission 1.7875 1 900,894.537706605 706605 Regents for Higher Education 1.7875 1 1,292.977706650 706650 Department of Veteran Affairs 1.7875 1 224,982.917707605 707605 Regents for Higher Education 1.7875 1 62,072,184.747707650 707650 Department of Veteran Affairs 1.7875 1 214,318.627708108 708108 Carl Albert State College 1.7875 1 4,384,289.477708605 708605 Regents for Higher Education 1.7875 1 7,999,052.227709605 709605 Regents for Higher Education 1.7875 1 4,512,049.257710350 710350 Oklahoma Historical Society 1.7875 1 1,142,951.557710452 710452 Oklahoma Department of Mental Health 1.7875 1 878,795.277710605 710605 Regents for Higher Education 1.7875 1 2,293,863.16
Note: Rate is net of 1.25 bps management fee
Office of the State TreasurerMonthly Report
December 2014
Agency Directed InvestmentsPosition Report - OK Invest
December 31, 2014
ACCOUNT FUND/ AGENCY INTEREST DAYS TO COST/MARKETAGENCY RATE MATURITY VALUE
7711185 711185 Corportation Commission 1.7875 1 58,385,825.017711420 711420 Langston University 1.7875 1 2,327,629.837711452 711452 Griffin Memorial Hospital Rep Payee 1.7875 1 19,451.737711605 711605 Regents for Higher Education 1.7875 1 919,256.247712605 712605 Regents for Higher Education 1.7875 1 163,740.597713605 713605 Regents for Higher Education 1.7875 1 1,315,020.907714605 714605 Regents for Higher Education 1.7875 1 10,818,237.217715605 715605 Regents for Higher Education 1.7875 1 4,231,817.877718605 718605 Regents for Higher Education 1.7875 1 9,312,524.857719605 719605 Regents for Higher Education 1.7875 1 30,290.387723623 723623 Seminole State College 1.7875 1 55,979.257725100 725100 Cameron University 1.7875 1 2,649,153.757730230 730230 East Central University 1.7875 1 1,192,469.447730830 730830 Department of Human Services 1.7875 1 236,682.307740605 740605 Regents for Higher Education 1.7875 1 13,599,435.377741241 741241 Redlands Community College 1.7875 1 1,786,688.967745605 745605 Regents for Higher Education 1.7875 1 1,889,435.487747470 747470 Murray State College 1.7875 1 964,399.017750350 750350 Oklahoma Historical Society 1.7875 1 548,807.807750531 750531 Rose State College 1.7875 1 8,562,232.217751485 751485 Northeastern State University 1.7875 1 8,665,572.477752485 752485 Northeastern State University 1.7875 1 2,867,142.627765665 765665 Southwestern Oklahoma State University 1.7875 1 7,405,390.437805370 805370 OIFA 1.7875 1 13,749.627823740 823740 OCIA 2008B Reserve Fund 1.7875 1 477,658.427831740 831740 OCIA 2003E Sinking Fund 1.7875 1 16,870.767833740 833740 OCIA 2005A Sinking Fund 1.7875 1 192,165.247834740 834740 OCIA 2005C Sinking Fund 1.7875 1 642,734.937835740 835740 OCIA 2005D Sinking Fund 1.7875 1 543,212.537837740 837740 OCIA 2006 Sinking Fund 1.7875 1 768,976.787838740 838740 OCIA 2005F Sinking Fund 1.7875 1 5,061,348.727840740 840740 OCIA 2006 Sinking Fund 1.7875 1 22,942.317843740 843740 OCIA 2006C Sinking Fund 1.7875 1 714,330.017845740 845740 OCIA 2008A Sinking Fund 1.7875 1 979,380.637846740 846740 OCIA 2008B Sinking Fund 1.7875 1 397,876.327847740 847740 OSF Building Project Fund 1.7875 1 3,390,488.097848740 848740 OSF Building Project Fund 1.7875 1 668,298.887849740 849740 OCIA 2009A Sinking Fund 1.7875 1 943,576.967850740 850740 OCIA 1.7875 1 4,501,788.037851740 851740 OCIA 1.7875 1 2,113,892.077852740 852740 Oklahoma 2010A GO Sinking Fund 1.7875 1 12,011,895.137853740 853740 Oklahoma 2010b GO Sinking Fund 1.7875 1 14,443.447854740 854740 OCIA Endowed Chair Fund 2010 1.7875 1 4,878,353.557855740 855740 OCIA 201A Higher Ed Projects Refunding 1.7875 1 3,860,541.007856740 856740 OCIA 201B Higher Ed Projects Refunding 1.7875 1 5,544,213.737857740 857740 OCIA 2010A Highway Capital Improvements 1.7875 1 6,382,878.417858740 858740 OCIA 2010b Highway Capital Improvements 1.7875 1 2,492,266.327860740 860740 OCIA 2012 State Highway 1.7875 1 1,025,741.347862740 862740 OCIA 2013 1.7875 1 1,143,300.177864740 864740 OK Bldg Bonds refunding 2013 1.7875 1 796,970.907910467 910467 OSF Escrow Fund 1.7875 1 161,468.617920605 920605 Regents for Higher Education 1.7875 1 7,137,884.24
1.7875 1TOTAL 2,279,325,283.92
Note: Rate is net of 1.25 bps management fee
Office of the State TreasurerMonthly Report
December 2014
This publication is printed and issued by the State Treasurer as required by 62 O.S. 1994, §89.7. Pursuant to 74 O.S. 1991, §3105, electronic copies have been prepared and distributed at no cost. Copies have been deposited with the Publication Clearinghouse of the Oklahoma Department of Libraries.
