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Presented by Tomas Vargas Assistant Treasurer-Tax Collector – Investments

County of Orangeocgov.com/ocinvestments

California Municipal Treasurers Association 2015 Annual Conference

Irvine, CaliforniaApril 17, 2015

Treasurers Roundtable – Mid-Year Outlook

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County of Orange InvestmentsKey Statistics

  2/28/2015 6/30/2014 6/30/2008

Assets Under Management

$7.5 billion $6.6 billion $6.1 billion

Weighted Average Maturity (WAM)* 409 days 464 days 212 days

Expenses in Basis Points

7.3 7.3 10

Net Yield* .34% .26% 4.33%

* Orange County Investment Pool (OCIP).

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Investment CompositionInvestment Type* 2/28/2015 6/30/2014 6/30/2008

U.S. Gov. Agencies 63% 60% 38%

U.S. Treasuries 26% 28% 4%

Medium-Term Notes 4% 3% 15%

Money Market Funds 3% 3% 3%

Certificates of Deposit 2% 1% 8%

Municipals 2% 5% 0%

Repurchase Agreements 0% 0% 6%

Commercial Paper 0% 0% 26%

* Orange County Investment Pool (OCIP).

NOTE: Credit Quality – 99%+ AA or better in 2015 versus 85% in 2008

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Investment Liquidity Trends

Maturity 2/28/2015 6/30/2014 6/30/2008

0 - 30 days* 12% 8% 30%

31 - 60 days* 8% 7% 8%

61 - 90 days* 4% 2% 6%

90+ days* 76% 83% 56%

* Percentages represent portfolio totals by market value, and 100% of Voluntary Participant funds are available in one day.