§ 70-618. Performance standards.

Latest version.

The investment portfolio shall be designed with the objective of obtaining a rate of return throughout budgetary and economic cycles, commensurate with the investment risk constraints and the cash flow needs.
(1)

Market yield (benchmarks). The City of New Orleans' investment strategy is active. Given this strategy, the basis used by the director of finance to determine whether market yields are being achieved shall be determined by the investment committee.

(2)

The investment portfolio will be managed in accordance with the parameters specified within this policy. The portfolio should obtain a market average rate of return during a market/economic environment of stable interest rates. Portfolio performance should be compared to appropriate benchmarks on a regular basis.

(M.C.S., Ord. No. 18,621, §§ 1, 2, 2-5-98)

                    
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