A risk analysis and review of Orange County’s three investment pools found little to be concerned about, the county supervisors were told this week.
“In our opinion, the county’s investments are being managed in a thoughtful, prudent manner,” said the report by PFM Asset Management LLC that was delivered Tuesday.
Supervisors commissioned the report in December after learning that the county had some structured investment vehicles among its investments, which followed news about a run by government depositors on Florida’s local government investment pool.
“As the county is aware, there have been certain stresses in the financial markets related to asset-backed commercial paper and structured investment vehicles,” the PFM report said. “The county’s holdings in these areas have held up well to the market pressures.”
The report did contain some minor recommendations, including filling vacant positions on the treasurer’s investment staff, adding an additional manager, and encouraging advanced training for staff members.
