INVESTMENT PORTFOLIO SUMMARYTotal Portfolio 0.36% Total Portfolio 0.34% Rolling Three Month Treasury...
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INVESTMENT PORTFOLIO SUMMARY For the Quarter Ended August 31, 2012 Prepared by Valley View Consulting, L.L.C. /s/ Cynthia F. Gilliam Cynthia F. Gilliam, Vice Chancellor for Administration & Finance/CFO /s/ Tammy Cortes Tammy Cortes, Associate Vice Chancellor for Administration & Finance These reports were compiled using information provided by the Lone Star College System. No procedures were performed to test the accuracy or completeness of this information. The market values included in these reports were obtained by Valley View Consulting, L.L.C. from sources believed to be accurate and represent proprietary valuation. Due to market fluctuations these levels are not necessarily reflective of current liquidation values. Yield calculations are not determined using standard performance formulas, are not representative of total return yields and do not account for investment advisor fees. The investment portfolio of the Lone Star College System is in compliance with the Public Funds Investment Act and the System's Investment Policy and strategies.
Transcript of INVESTMENT PORTFOLIO SUMMARYTotal Portfolio 0.36% Total Portfolio 0.34% Rolling Three Month Treasury...
INVESTMENT PORTFOLIO SUMMARY
For the Quarter Ended
August 31, 2012
Prepared byValley View Consulting, L.L.C.
/s/ Cynthia F. GilliamCynthia F. Gilliam, Vice Chancellor for Administration & Finance/CFO
/s/ Tammy CortesTammy Cortes, Associate Vice Chancellor for Administration & Finance
These reports were compiled using information provided by the Lone Star College System. No procedures were performed to test the accuracy or completeness of this information. The market values included in these reports were obtained by Valley View Consulting, L.L.C. from sources believed to be accurate and represent proprietary valuation. Due to market fluctuations these levels are not necessarily reflective of current liquidation values. Yield calculations are not determined using standard performance formulas, are not representative of total return yields and do not account for investment advisor fees.
The investment portfolio of the Lone Star College System is in compliance with the Public Funds Investment Act and the System's Investment Policy and strategies.
Strategy Summary:
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Avg. YieldPools/Banks 131,442,845$ 131,442,845$ 90,939,233$ 90,939,233$ 0.23%Securities/CDs 36,609,828$ 36,613,119$ 43,658,912$ 43,660,026$ 0.62%
Totals 168,052,673$ 168,055,964$ 134,598,145$ 134,599,259$
Total Portfolio 0.36% Total Portfolio 0.34%
Rolling Three Month Treasury 0.10% Rolling Three Month Treasury 0.06%Rolling Six Month Treasury 0.14% Rolling Six Month Treasury 0.10%
TexPool 0.11%
Quarterly Interest Earnings 128,310$ YTD Interest Earnings 543,598$
(1) Average Quarterly Yield calculated using quarter end report average yield and adjusted book value.
The Federal Open Market Committee (FOMC) maintained the Fed Funds target range between 0.00% and 0.25% (actual Fed Funds are trading +/-15bps). The European credit crisis continues to linger without permanent resolution - several key components converge later this fall. Chinese growth trends are lower and worrisome. Domestic employment growth is modest and inconsistent. Overall economic activity is below expectations. The US stock market remains a bright spot. Financial institution deposits and laddering targeted cash flows still provide the best interest earnings opportunity.
Average Quarterly Yield (1) Average Quarter End Yields - Fiscal Year
5/31/2012 8/31/2012
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Detail of Investment Holdings
Coupon/ Maturity Settlement Call Original Face/ Purchase Book Market Market Life Description Rating Discount Date Date Date Par Value Price Value Price Value (days) Yield
JPMC DDA Checking 0.00% 09/01/2012 08/31/2012 142,983$ 1.00 142,983$ 1.00 142,983$ 1 0.00%SSB NOW MMA 0.33% 09/01/2012 08/31/2012 20,030,796 1.00 20,030,796 1.00 20,030,796 1 0.33%LOGIC LGIP AAAm 0.19% 09/01/2012 08/31/2012 35,700,513 1.00 35,700,513 1.00 35,700,513 1 0.19%LSIP - Corporate LGIP AAAm 0.22% 09/01/2012 08/31/2012 10,820,859 1.00 10,820,859 1.00 10,820,859 1 0.22%LSIP - Corporate Plus (3) LGIP AAAm 0.24% 09/01/2012 08/31/2012 18,111,657 1.00 18,111,657 1.00 18,111,657 1 0.24%LSIP - Government LGIP AAAm 0.14% 09/01/2012 08/31/2012 7,558 1.00 7,558 1.00 7,558 1 0.14%TexPool LGIP AAAm 0.13% 09/01/2012 08/31/2012 222,738 1.00 222,738 1.00 222,738 1 0.13%TexPool - Prime LGIP AAAm 0.16% 09/01/2012 08/31/2012 5,902,129 1.00 5,902,129 1.00 5,902,129 1 0.16%
Southside Bank-CD CD091912 0.40% 09/19/2012 09/19/2011 2,006,011 100.00 2,006,011 100.00 2,006,011 19 0.40%Southside Bank-CD CD101912 0.36% 10/19/2012 01/19/2012 5,008,979 100.00 5,008,979 100.00 5,008,979 49 0.36%Southside Bank-CD CD110912 0.73% 11/09/2012 05/10/2011 5,045,968 100.00 5,045,968 100.00 5,045,968 70 0.73%Texas Capital Bank CD CD112712 0.25% 11/27/2012 08/27/2012 245,306 100.00 245,306 100.00 245,306 88 0.25%Southside Bank-CD CD121912 0.47% 12/19/2012 09/19/2011 2,007,065 100.00 2,007,065 100.00 2,007,065 110 0.47%Encore Bank-CD CD022513 0.75% 02/25/2013 02/25/2012 5,050,763 100.00 5,050,763 100.00 5,050,763 178 0.75%Southside Bank-CD CD031913 0.55% 03/19/2013 09/19/2011 2,008,269 100.00 2,008,269 100.00 2,008,269 200 0.55%Green Bank-CD CD032013 0.65% 03/20/2013 03/20/2012 245,000 100.00 245,000 100.00 245,000 201 0.65%Southside Bank-CD CD061913 0.65% 06/19/2013 09/19/2011 2,009,775 100.00 2,009,775 100.00 2,009,775 292 0.65%Encore Bank-CD CD092013 0.80% 09/20/2013 03/20/2012 1,002,258 100.00 1,002,258 100.00 1,002,258 385 0.80%Southside Bank-CD CD100113 0.65% 10/01/2013 11/02/2011 5,024,437 100.00 5,024,437 100.00 5,024,437 396 0.65%Encore Bank-CD CD032014 0.90% 03/20/2014 03/20/2012 2,005,081 100.00 2,005,081 100.00 2,005,081 566 0.90%FNMA Callable 3136FTGL7 AA+/Aaa 0.70% 04/25/2014 10/25/2011 10/25/2012 2,000,000 100.00 2,000,000 100.06 2,001,114 602 0.70%Southside Bank-CD CD052914 0.61% 05/29/2014 08/29/2012 5,000,000 100.00 5,000,000 100.00 5,000,000 636 0.61%Southside Bank-CD CD082914 0.65% 08/29/2014 08/29/2012 5,000,000 100.00 5,000,000 100.00 5,000,000 728 0.65%
134,598,145$ 134,598,145$ 134,599,259$ 107 0.36% (1) (2)
August 31, 2012
(2) Weighted average yield to maturity - For purposes of calculating weighted average yield to maturity, realized and unrealized gains/losses, and Investment Advisor fees are not considered.
(1) Weighted average life - For purposes of calculating weighted average life, Bank Deposit, Local Government Investment Pool, and Money Market Mutual Fund investments are assumed to have a one day maturity.
(3) Original Face/Par Value - For reporting purposes, Purchase Price and Market Price are reported as $1.00 and Original Face/Par Value is adjusted accordingly. Actual Purchase Price and Market Price is $0.50, consequentially Original Face/Par Value would double.
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DDA/MMA15%
LOGIC27%
LSIP21%
TexPool5%
Portfolio Composition
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Book Value Comparison
Coupon/ Maturity Original Face/ Original Face/Discount Date Par Value Book Value Purchases Maturities/Calls Par Value Book Value
JPMC DDA 0.00% 09/01/2012 140,731$ 140,731$ 2,252$ -$ 142,983$ 142,983$ SSB NOW 0.33% 09/01/2012 7,015,944 7,015,944 13,014,852 - 20,030,796 20,030,796 LOGIC 0.19% 09/01/2012 35,680,088 35,680,088 20,425 - 35,700,513 35,700,513 LSIP - Corporate 0.22% 09/01/2012 13,259,221 13,259,221 (2,438,362) 10,820,859 10,820,859 LSIP - Corporate Plus 0.24% 09/01/2012 65,426,649 65,426,649 (47,314,991) 18,111,657 18,111,657 LSIP - Government 0.14% 09/01/2012 11,797 11,797 (4,239) 7,558 7,558 TexPool 0.13% 09/01/2012 222,663 222,663 75 - 222,738 222,738 TexPool - Prime 0.16% 09/01/2012 9,685,751 9,685,751 (3,783,623) 5,902,129 5,902,129
Toyota Motor Credit-CP 0.59% 06/12/2012 3,000,000 2,999,420 (2,999,420) Texas Capital Bank-CD 0.25% 08/29/2012 245,153 245,153 (245,153) Southside Bank-CD 0.40% 09/19/2012 2,003,991 2,003,991 2,020 - 2,006,011 2,006,011 Southside Bank-CD 0.36% 10/19/2012 5,004,488 5,004,488 4,492 - 5,008,979 5,008,979 Southside Bank-CD 0.73% 11/09/2012 5,036,701 5,036,701 9,268 - 5,045,968 5,045,968 Texas Capital Bank-CD 0.25% 11/27/2012 245,306 245,306 245,306 Southside Bank-CD 0.47% 12/19/2012 2,004,690 2,004,690 2,375 - 2,007,065 2,007,065 Encore Bank-CD 0.75% 02/25/2013 5,041,336 5,041,336 9,427 - 5,050,763 5,050,763 Southside Bank-CD 0.55% 03/19/2013 2,005,489 2,005,489 2,780 - 2,008,269 2,008,269 Green Bank-CD 0.65% 03/20/2012 245,000 245,000 - - 245,000 245,000 Southside Bank-CD 0.65% 06/19/2013 2,006,487 2,006,487 3,287 - 2,009,775 2,009,775 Encore Bank-CD 0.80% 09/20/2012 1,000,263 1,000,263 1,995 - 1,002,258 1,002,258 Southside Bank-CD 0.65% 10/01/2013 5,016,219 5,016,219 8,218 - 5,024,437 5,024,437 Encore Bank-CD 0.90% 03/20/2014 2,000,592 2,000,592 4,489 - 2,005,081 2,005,081 FNMA Callable 0.70% 04/25/2014 2,000,000 2,000,000 - - 2,000,000 2,000,000 Southside Bank-CD 0.61% 05/29/2014 5,000,000 5,000,000 5,000,000 Southside Bank-CD 0.65% 08/29/2014 5,000,000 5,000,000 5,000,000
168,053,253$ 168,052,673$ 23,331,261$ (56,785,789)$ 134,598,145$ 134,598,145$
August 31, 2012May 31, 2012
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Market Value Comparison
Coupon/ Maturity Original Face/ Quarter End Original Face/Discount Date Par Value Market Value Change Par Value Market Value
JPMC DDA 0.00% 09/01/2012 140,731$ 140,731$ 2,252$ 142,983$ 142,983$ SSB NOW 0.33% 09/01/2012 7,015,944 7,015,944 13,014,852 20,030,796 20,030,796 LOGIC 0.19% 09/01/2012 35,680,088 35,680,088 20,425 35,700,513 35,700,513 LSIP - Corporate 0.22% 09/01/2012 13,259,221 13,259,221 (2,438,362) 10,820,859 10,820,859 LSIP - Corporate Plus 0.24% 09/01/2012 65,426,649 65,426,649 (47,314,991) 18,111,657 18,111,657 LSIP - Government 0.14% 09/01/2012 11,797 11,797 (4,239) 7,558 7,558 TexPool 0.13% 09/01/2012 222,663 222,663 75 222,738 222,738 TexPool - Prime 0.16% 09/01/2012 9,685,751 9,685,751 (3,783,623) 5,902,129 5,902,129
Toyota Motor Credit-CP 0.59% 06/12/2012 3,000,000 2,999,919 (2,999,919) Texas Capital Bank-CD 0.25% 08/29/2012 245,153 245,153 (245,153) Southside Bank-CD 0.40% 09/19/2012 2,003,991 2,003,991 2,020 2,006,011 2,006,011 Southside Bank-CD 0.36% 10/19/2012 5,004,488 5,004,488 4,492 5,008,979 5,008,979 Southside Bank-CD 0.73% 11/09/2012 5,036,701 5,036,701 9,268 5,045,968 5,045,968 Texas Capital Bank-CD 0.25% 11/27/2012 245,306 245,306 245,306 Southside Bank-CD 0.47% 12/19/2012 2,004,690 2,004,690 2,375 2,007,065 2,007,065 Encore Bank-CD 0.75% 02/25/2013 5,041,336 5,041,336 9,427 5,050,763 5,050,763 Southside Bank-CD 0.55% 03/19/2013 2,005,489 2,005,489 2,780 2,008,269 2,008,269 Green Bank-CD 0.65% 03/20/2012 245,000 245,000 - 245,000 245,000 Southside Bank-CD 0.65% 06/19/2013 2,006,487 2,006,487 3,287 2,009,775 2,009,775 Encore Bank-CD 0.80% 09/20/2012 1,000,263 1,000,263 1,995 1,002,258 1,002,258 Southside Bank-CD 0.65% 10/01/2013 5,016,219 5,016,219 8,218 5,024,437 5,024,437 Encore Bank-CD 0.90% 03/20/2014 2,000,592 2,000,592 4,489 2,005,081 2,005,081 FNMA Callable 0.70% 04/25/2014 2,000,000 2,002,792 (1,678) 2,000,000 2,001,114 Southside Bank-CD 0.61% 05/29/2014 5,000,000 5,000,000 5,000,000 Southside Bank-CD 0.65% 08/29/2014 5,000,000 5,000,000 5,000,000
168,053,253 168,055,964 (33,456,705) 134,598,145 134,599,259
August 31, 2012May 31, 2012
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Book Value Allocated by Fund
Operating CIP CIP I & SDescription Maturity Fund Fund MTN Bond Fund Total
JPMC DDA 09/01/2012 142,983$ -$ -$ -$ 142,983$ SSB NOW 09/01/2012 20,030,796 20,030,796 LOGIC 09/01/2012 1,467,250 34,176,132 40,168 16,963 35,700,513 LSIP - Corporate 09/01/2012 3 10,807,603 13,253 10,820,859 LSIP - Corporate Plus 09/01/2012 14,453,123 3,658,534 18,111,657 LSIP - Government 09/01/2012 7,020 538 7,558 TexPool 09/01/2012 13,981 208,757 222,738 TexPool - Prime 09/01/2012 990,818 4,911,310 5,902,129
Southside Bank-CD 09/19/2012 2,006,011 2,006,011 Southside Bank-CD 10/19/2012 5,008,979 5,008,979 Southside Bank-CD 11/09/2012 5,045,968 5,045,968 Texas Capital Bank CD 11/27/2012 245,306 245,306 Southside Bank-CD 12/19/2012 2,007,065 2,007,065 Encore Bank-CD 02/25/2013 5,050,763 5,050,763 Southside Bank-CD 03/19/2013 2,008,269 2,008,269 Green Bank-CD 03/20/2013 245,000 245,000 Southside Bank-CD 06/19/2013 2,009,775 2,009,775 Encore Bank-CD 09/20/2013 1,002,258 1,002,258 Southside Bank-CD 10/01/2013 5,024,437 5,024,437 Encore Bank-CD 03/20/2014 2,005,081 2,005,081 FNMA Callable 04/25/2014 2,000,000 2,000,000 Southside Bank-CD 05/29/2014 5,000,000 5,000,000 Southside Bank-CD 08/29/2014 5,000,000 5,000,000
Total 75,714,124$ 49,895,045$ 40,168$ 8,948,808$ 134,598,145$
August 31, 2012
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Market Value Allocated by Fund
Operating CIP CIP I & SDescription Maturity Fund Fund MTN Bond Fund Total
JPMC DDA 09/01/2012 142,983$ -$ -$ -$ 142,983$ SSB NOW 09/01/2012 20,030,796 20,030,796 LOGIC 09/01/2012 1,467,250 34,176,132 40,168 16,963 35,700,513 LSIP - Corporate 09/01/2012 3 10,807,603 13,253 10,820,859 LSIP - Corporate Plus 09/01/2012 14,453,123 3,658,534 18,111,657 LSIP - Government 09/01/2012 7,020 538 7,558 TexPool 09/01/2012 13,981 208,757 222,738 TexPool - Prime 09/01/2012 990,818 4,911,310 5,902,129
Southside Bank-CD 09/19/2012 2,006,011 2,006,011 Southside Bank-CD 10/19/2012 5,008,979 5,008,979 Southside Bank-CD 11/09/2012 5,045,968 5,045,968 Texas Capital Bank CD 11/27/2012 245,306 245,306 Southside Bank-CD 12/19/2012 2,007,065 2,007,065 Encore Bank-CD 02/25/2013 5,050,763 5,050,763 Southside Bank-CD 03/19/2013 2,008,269 2,008,269 Green Bank-CD 03/20/2013 245,000 245,000 Southside Bank-CD 06/19/2013 2,009,775 2,009,775 Encore Bank-CD 09/20/2013 1,002,258 1,002,258 Southside Bank-CD 10/01/2013 5,024,437 5,024,437 Encore Bank-CD 03/20/2014 2,005,081 2,005,081 FNMA Callable 04/25/2014 2,001,114 2,001,114 Southside Bank-CD 05/29/2014 5,000,000 5,000,000 Southside Bank-CD 08/29/2014 5,000,000 5,000,000
Total 75,715,238$ 49,895,045$ 40,168$ 8,948,808$ 134,599,259$
August 31, 2012
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Book Value Allocated by Fund
Operating CIP CIP I & SDescription Maturity Fund Fund MTN Bond Fund Total
JPMC DDA 06/01/2012 140,731$ -$ -$ -$ 140,731$ SSB NOW 06/01/2012 7,015,944 7,015,944 LOGIC 06/01/2012 1,466,411 34,156,579 40,145 16,954 35,680,088 LSIP - Corporate 06/01/2012 3 13,245,973 13,245 13,259,221 LSIP - Corporate Plus 06/01/2012 46,380,579 19,046,070 65,426,649 LSIP - Government 06/01/2012 11,260 537 11,797 TexPool 06/01/2012 13,976 208,687 222,663 TexPool - Prime 06/01/2012 4,776,442 4,909,309 9,685,751
Toyota Motor Credit-CP 06/12/2012 2,999,420 2,999,420 Texas Capital Bank-CD 08/29/2012 245,153 245,153 Southside Bank-CD 09/19/2012 2,003,991 2,003,991 Southside Bank-CD 10/19/2012 5,004,488 5,004,488 Southside Bank-CD 11/09/2012 5,036,701 5,036,701 Southside Bank-CD 12/19/2012 2,004,690 2,004,690 Encore Bank-CD 02/25/2013 5,041,336 5,041,336 Southside Bank-CD 03/19/2013 2,005,489 2,005,489 Green Bank-CD 03/20/2013 245,000 245,000 Southside Bank-CD 06/19/2013 2,006,487 2,006,487 Encore Bank-CD 09/20/2013 1,000,263 1,000,263 Southside Bank-CD 10/01/2013 5,016,219 5,016,219 Encore Bank-CD 03/20/2014 2,000,592 2,000,592 FNMA Callable 04/25/2014 2,000,000 2,000,000
Total 91,373,838$ 52,311,861$ 40,145$ 24,326,829$ 168,052,673$
May 31, 2012
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Market Value Allocated by Fund
Operating CIP CIP I & SDescription Maturity Fund Fund MTN Bond Fund Total
JPMC DDA 06/01/2012 140,731$ -$ -$ -$ 140,731$ SSB NOW 06/01/2012 7,015,944 7,015,944 LOGIC 06/01/2012 1,466,411 34,156,579 40,145 16,954 35,680,088 LSIP - Corporate 06/01/2012 3 13,245,973 13,245 13,259,221 LSIP - Corporate Plus 06/01/2012 46,380,579 19,046,070 65,426,649 LSIP - Government 06/01/2012 11,260 537 11,797 TexPool 06/01/2012 13,976 208,687 222,663 TexPool - Prime 06/01/2012 4,776,442 4,909,309 9,685,751
Toyota Motor Credit-CP 06/12/2012 2,999,919 2,999,919 Texas Capital Bank-CD 08/29/2012 245,153 245,153 Southside Bank-CD 09/19/2012 2,003,991 2,003,991 Southside Bank-CD 10/19/2012 5,004,488 5,004,488 Southside Bank-CD 11/09/2012 5,036,701 5,036,701 Southside Bank-CD 12/19/2012 2,004,690 2,004,690 Encore Bank-CD 02/25/2013 5,041,336 5,041,336 Southside Bank-CD 03/19/2013 2,005,489 2,005,489 Green Bank-CD 03/20/2013 245,000 245,000 Southside Bank-CD 06/19/2013 2,006,487 2,006,487 Encore Bank-CD 09/20/2013 1,000,263 1,000,263 Southside Bank-CD 10/01/2013 5,016,219 5,016,219 Encore Bank-CD 03/20/2014 2,000,592 2,000,592 FNMA Callable 04/25/2014 2,002,792 2,002,792
Total 91,377,129$ 52,311,861$ 40,145$ 24,326,829$ 168,055,964$
May 31, 2012
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