Council investments improve

Gosford Council received its investment report for the month of October at its meeting of Tuesday, December 3.

As at October 31, council's investment portfolio had a current market valuation of $96,639,310 with a "hold to maturity" value (face value) of $103,165,992.

When compared to the previous month, of the eight structured securities held, 88 per cent showed an increase in their market value.

The net market value increase for the period was $145,616.

Council's investment portfolio return outperformed the bank bill index benchmark during the month, 5.39 per cent versus 2.6 per cent.

Council's portfolio is expected to return above benchmark returns if there are no further credit events within its CDO portfolio, which is currently valued at low levels.

Without marked-to-market influences, council's investment portfolio yielded 4.07 per cent per annum during the month.

Gosford Council Agenda COR.107, 3 Dec 2013