San Diego, CA… San Diego County Treasurer-Tax Collector Dan McAllister announced today that Standard and Poor’s (S&P) reaffirmed the County of San Diego’s Investment Pool with the highest credit ratings, a ‘AAAf’ credit quality and a ‘S1’ volatility rating, for the 11th year in a row.
“We are thrilled to receive this rating, especially now, during this tough economy,” stated McAllister. “We know Standard & Poor’s carefully analyzes the portfolios they rate and it’s rewarding to once again receive their highest credit rating. The goal is to ensure that our investments are of the highest quality.”
The San Diego County Investment Pool peaked at more than 7.2 billion dollars in 2011, a new record. The pool is managed for a maximum return while safeguarding principal and maintaining liquidity on behalf of 42 schools, five community college districts, the San Diego Regional Airport Authority and 48 other special districts and municipalities.
“We are extremely proud that Standard & Poor’s has reaffirmed our AAA ratings,” stated Bill Horn, Chairman of the San Diego County Board of Supervisors. “The Treasurer-Tax Collector’s office continues to do a great job in managing the County’s investment pool and I am proud S&P is confident in our investment strategies.”
The Treasurer’s investment team has over 67 years of investment experience collectively and adheres to the strict investment policy guidelines adopted for the pool each year by the Board of Supervisors. A 10-member oversight committee comprised of county officials, school district officials, a special district official, and up to five public members also reviews and approves the investment strategy annually. To maintain accurate ratings, S&P actively monitors the pool’s investments on a monthly basis. S&P currently rates more that 400 fixed income funds in the U.S., including 68 local government investment pools.