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City of Louisville <br />Account Review –May 2010 <br />•City of Louisville: Kevin Watson, Finance Director <br />•Davidson Fixed Income Management: Scott Prickett, Account Manager <br />•Investment Objectives: <br />-Safetyof Principal: The primary objective is to protect against any loss of principal. <br />-Liquidity: Investments will be managed to ensure that funds are available to meet obligations as necessary. <br />-Yield: Investments will be managed to optimize returns within the appropriate safety and liquidity constraints. <br />Portfolio Characteristics 05/31/2010 <br />Performance Information (03/01/2010 – 05/31/2010) <br />Managed Assets: <br /> Par Value:29,055,772$ <br />245 <br />3 <br />Colotrust1 Yr Treas2 Yr AG <br />Louisville <br /> Book Value:29,274,767$ <br />1 <br /> BV Return (Yield) Market Value:29,699,707$ <br />0.20%0.38%1.85% <br />2.30% <br /> Weighted Avg YTM:2.05% <br /> Weighted Avg Maturity/Call:14.0 Months <br /> 1. BV Rate of Return (Income) = Earned Interest +/- Realized Gain/Loss +/- Amortization. <br /> 2. Reflects Colotrust Plus average daily yield for the quarter. <br />Other Assets: <br /> 3. Reflects Rate of Return (yield), net of management fees. <br /> Checking Accounts:316,894$ 1.33% <br /> 4. 1 Yr Treasury data obtained from Bloomberg. <br /> Local Government Investment Pools:4,162,739$ 0.11% <br /> 5. The 2 Yr Agency Benchmark is a custom benchmark created to reflect purchasing a 2 Yr Agency <br /> security every month on the same day as the 2 Yr Treasury Auction and using Bloomberg pricing. <br /> Certificates of Deposit1,030,000$ 1.25% <br /> Past performance of the City of Louisville portfolio does not guarantee future results. <br />Total Assets:$ 35,209,340 <br />