Market value increases
Gosford Council has received its investment report for September at its ordinary meeting of Tuesday, November 6.
As at September 30, council's investment portfolio had a current market valuation of $109,672,134 against a face value of $116,340,154.
When compared to the previous month, all of the eight structured securities held showed an increased in their market value.
The net market value increase for the period was $72,665.
Council's investment portfolio return outperformed the bank bill index benchmark during the month, 5.51 per cent per annum versus 2.6 per cent per annum.
Council's portfolio is expected to return above benchmark returns if there are no further credit events within its CDO portfolio, as the CDO portfolio is currently valued at low levels.
Without marked-to-market influences, council's investment portfolio yielded 4.17 per cent per annum during the month.
Gosford Council Agenda COR.97, 5 Nov 2013