Council investments

Gosford Council has reported its investment portfolio had a market valuation of $53,861,943 on a face value of $61,698,966 as of April 30.

Of these funds, $39,834,517 was restricted assets and reserves, while $ 5,347,096 was unspent loans and $6,517,353 was committed funds and unspent grants.

According to the report by Council's director corporate services Mr Nic Pasternatsky, Council's investment portfolio return outperformed the bank bill index benchmark during the month (6.40 per cent per annum versus 3.23 per cent per annum).

Mr Pasternatsky said Council's portfolio was expected to return above benchmark returns if there was no further credit events within its CDO portfolio as the CDO portfolio was currently valued at low levels.

Without marked-to-market influences, Council's investment portfolio yielded 4.33%pa during the month.

Gosford Council Agenda COR.40, 28 May 2013