Ann Arbor City Council approves changes to city investment policy
The Ann Arbor City Council voted unanimously Monday night to approve changes to city policy, giving the city new options for investing its money.
Matt Horning
City Treasurer Matt Horning told council members the changes to the investment policy are intended to allow the city to structure its portfolio to be less reactive to market volatility and improve yields, while adding new restrictions to ensure diversification.
The city has $229 million tied up in investments. Through Sept. 30, the city saw a 1.81 percent return, according to a third-quarter investment portfolio report.
That's down from 2.22 percent in calendar year 2010, 3.1 percent in 2009, and 3.87 percent in 2008, according to year-end reports reviewed by AnnArbor.com.
Horning offered an overview of the proposed investment policy revisions during a recent meeting of the council's budget committee.
Ryan J. Stanton covers government and politics for AnnArbor.com. Reach him at ryanstanton@annarbor.com or 734-623-2529. You also can follow him on Twitter or subscribe to AnnArbor.com's e-mail newsletters.
Comments
debling
Wed, Dec 7, 2011 : 3:54 p.m.
I would hope the City of Ann Arbor is using ethical guidelines as well when deciding on which investments to choose. In particular, the City should not be taking investments originating from countries or firms associated with countries involved in human rights abuses. In this regard, the City of Ann Arbor should adopt a strict Israel divestment position.
Bcar
Wed, Dec 7, 2011 : 12:10 p.m.
only 1.8% yeah, they'd had better take a long hard look at that one! wow... oh wait, these are the same 1% for art people... I have no hope until elections here.