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County Investment Fund earns highest rating: AAA

 

Last updated 10/6/2020 at 3:36pm

Investment Pool Balance Chart

SAN DIEGO – Dan McAllister, treasurer-tax collector of San Diego County, announced that the

San Diego County investment pool received top ratings from a nationally recognized statistical

rating organization, Tuesday, Sept. 29.

Fitch Ratings confirmed the investment pool's "AAA" rating for its highest underlying credit

quality, or lowest vulnerability to default, and a very low sensitivity to market risk.

This marks the 21st consecutive year the investment pool has received the highest rating.

"Despite a volatile financial market this year, our investment team has done an excellent job

safeguarding the principal in our investment pool, which reached a record $12.3 billion in public

funds in April," McAllister said.

"The 'AAA' rating reflects the high-quality assets in the investment pool, low degree of risk

acceptance, and validates the County's overall strategic focus on safety and preservation of

investments," Supervisor Greg Cox, chairperson of the county board of supervisors, said. "I

commend the work of our county treasurer's team in protecting the assets of our local public

agencies." 

The treasurer-tax collector's team invests the funds in high quality securities on behalf of public

agency pool participants, who use the money for the operational and capital needs of their

agencies.

Currently, over 200 public agencies in the San Diego region invest in the pool, including all 42

public school districts, five community college districts, the San Diego Regional Airport

Authority, San Diego Association of Governments, Metropolitan Transit System and other

public agencies such as cities, fire and water districts.

In addition to the team of full-time investment professionals in the treasury, a nine-member

oversight committee composed of county executives and public agency officials – with expertise

in schools, special districts, cities and public finance – review the county's investment policy

annually.

Submitted by the San Diego County Treasurer-Tax Collector's office.

 

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