managed to maintain a dollar-weighted average portfolio maturity of 60 days or less and seeks to maintain a constant net asset value (NAV) per share of $1.00. The fund holds an AAAm rating with Standard & Poor’s rating agency. The CAMP pool is permitted as an investment for all local agencies under California Government Code Section 53601(p). CAMP is directed by a Board of Trustees, which is made up of experienced local government finance directors and treasurers. Maximum Amount Allowed: $10 million or 20% of the City’s total investment portfolio, whichever is less. 9. Section 115 Pension Trust The City may invest funds in a Section 115 Pension Trust. The City may invest Pension Trust funds in mutual funds, as allowed under Government Code Sections 53601(l) and 53601.6(b). Maximum Amount: 20% of the City’s investment portfolio Limitation on investments as identified under this section will apply to the City’s investment portfolio at all times. If for any reason, an investment exceeds a stated limitation, the City has 90 days in which to bring the investment portfolio back into compliance. H. Portfolio Diversification It is the policy of the City to diversify its investment portfolio. Invested funds shall be diversified to minimize the risk of loss resulting from over concentration of assets in a specific maturity, specific issuer, specific financial institution, or specific class of securities. I. Mitigation of Market Risk In order to minimize market risk and eliminate reliance on interest rate forecasting, it is the policy of the City to structure its investment portfolio as a maturity ladder. The City shall use LAIF, OCIP, CAMP, and other short‐term investments, with a maturity of one year or less, to maintain sufficient liquidity to meet the City’s short‐ term operating, capital and contingency requirements. As a general guideline, the balance of the portfolio should be invested in, and evenly distributed between, instruments with maturities of one to five years, unless in the opinion CITY INVESTMENT POLICY 5 of 8 COUNCIL POLICY ADOPTED 6/4/2024 131