The San Diego County investment pool — which works with funds from more than 200 agencies in the region — reached an all-time high of $10.5 billion, county Treasurer-Tax Collector Dan McAllister announced Wednesday.
The investment pool had a balance of $10.1 billion last year, and $7.3 billion five years ago.
“Our experienced investment team makes security, liquidity and risk management the three top goals for managing the public’s money,” said McAllister, who is seeking re-election in 2018. “When our participants entrust their money to us, they want to know we will manage their funds successfully by providing competitive returns.”
The county treasury manages the fund of public agencies required to invest money into the pool, including the county, all 42 local public school districts, five community college districts, and water and fire districts.
Voluntary participants include the San Diego Regional Airport Authority, San Diego Association of Governments and Metropolitan Transit System, among others.
McAllister said the pool has received a AAA credit rating. Fitch Ratings indicated this year that the pool has the highest underlying credit quality — or lowest vulnerability to default — and a very low sensitivity to market risk, he said.
An 11-member oversight committee — comprised of county, school and public agency officials and three public members — meets quarterly to review the pool’s status. The committee also examines and updates the county’s investment policy annually.
— City News Service
