Sessions

Test Session

  • Date: 2/13/2020
  • Track: Public Finance

This is a test session

Test from Someone Else

  • Date: 2/18/2020
  • Track: Pre-Conference

Part One: Public Fund Investing - Simplified

  • Date: 9/22/2020
  • Track: Pre-Conference

Public Funds Investing is simple.  Let us take the mystery out of it...

In the first 30 minutes of this class, we will provide a thorough review of current legal investments in the State of Washington. We will distribute as our "textbook", the "Guide to Public Funds Investing for Local Governments" as provided by the Office of the Washington State Treasurer.  As we review this booklet with attendees, we will cover such topics as:

  • The difference between money market funds (illegal) and PDPA protected bank accounts (legal).
  • The most typical bonds for public funds investing in Washington.
  • The rating and allocation percentages required by the State for investment in corporate bonds.

Next, we will diagram the cash flows of a typical bond, clarifying the differences between a discount and premium bond. Callable bonds are popular.  We will dig into the factors that determine whether or not a callable bond will be called.

We will address the age-old question: should the investor build a portfolio using an advisor or brokers? This will be accomplished by an actual debate between an advisor and a broker!

In the last section, we will "bring it all together".  We will review a sample portfolio using actual bond reporting which we will walk through with the attendees.  The class will learn the concept of weighted average yield to maturity and “to worst”, as well as how many basis points rates would need to change to “trigger” the call.

This class is provided by the same folks that brought you "Public Funds Investing Made Easy".  You can expect us to teach at a pace that allows everyone (even beginners!) to follow along. 

If you are looking for answers to your public fund's investment questions without a lot of jargon, this class is for you!

Part Two: Establishing a Public Fund

  • Date: 9/22/2020
  • Track: Pre-Conference

Many Washington jurisdictions invest public funds outside of the state's Local Government Investment Pool (LGIP).

This session will focus on key aspects of investing beyone the LGIP.  Our speakers will focus on developing investment policies compliant with state law, and, in particular, authorized investments and minimum credit ratings; cash flow planning and proven investment strategies; and tips for navigating in today's current low interest rate environment.

Portfolio Strategies for Managing Risk and Return

  • Date: 9/22/2020
  • Track: Pre-Conference

Depending upon your investment objectives, risk tolerance, and resources, there are a number of potential approaches to managing a portfolio. The focus on this session will be on active management strategies to mitigate risk and enhance total return.  This session will cover some of the key levers and techniques utilitzed to structure and manage fixed income portfolios, tools for market analysis, and procedures for measuring and communicating portfolio performance.

OST Portfolios Management & Strategy

  • Date: 9/23/2020
  • Track: Investments

Come learn about how OST Investments staff manage the state’s operating funds and local government investments.  The discussion will include allocation to liquidity and core portfolios, positioning and duration, allowable investments, corporate credit analysis and active management strategies.  As well, we will provide an update on the LGIP and the newly separately managed accounts for local governments.

Short Term Investment Options

  • Date: 9/23/2020
  • Track: Investments

For many years short-term investing was pretty boring, with interest rates being close to zero, and expected to stay there for quite a while, and banks not that interested in CDs.  Status quo for many investors was using a combination of leaving compensating balances with their bank and the LGIP.  With interest rates on the rise and banks more interested in your deposits, the short-term investment environment has changed.  In this panel, we will explore various strategies and options for optimizing your short-term investments.

Performance, Value, and Practical Strategies for Public Fund Investors

  • Date: 9/23/2020
  • Track: Investments

Guessing if rates will rise, fall, or stay unchanged and investing accordingly is a poor investment strategy; especially for Public Fund investors.  The best strategy for your portfolio is defined by characteristics specific to your situation.  While there are similarities among Public Fund investors, no two are exactly alike.  This session will begin with a brief economic update, followed by a review of historical and projected performance of investments permissible to Public Fund Investors in Washington State.  The session will conclude with a review and comparison of practical strategies that can be tailored to your specific needs.

Managing Portfolio Duration

  • Date: 9/23/2020
  • Track: Investments

Duration is typically the primary contributor to portfolio returns.  In this session, we will focus on how to utilize duration to manage risk and return in the portfolio.  This session will cover common measurements of duration and convexity, along with techniques for active management.  We will analyze various market scenarios and how duration decisions can affect performance outcomes.

Communicating with Council

  • Date: 9/24/2020
  • Track: Management/Leadership

This presentation will focus on best practices for presenting technical, financial information to a non-technical audience.  We will talk about how to make your point effectively, efficiently, and which tools best suit the purpose.  Come with your own questions and challenges and we will work through practical solutions together.

Financial Policies – the what, why, and how

  • Date: 9/24/2020
  • Track: Management/Leadership

Introduction to Cash Flow Forecasting

  • Date: 9/25/2020
  • Track: Investments

Understanding your cash flow is an essential part of the public funds management.  Amanda Huston of the Washington State Treasurer’s Office will discuss elements of a cash flow forecast, steps in forecasting and making adjustments to your forecast, and ways to use cash flow knowledge to improve your cash management and investment strategy.

How to Analyze a Fixed Income Portfolio Using Excel

  • Date: 9/25/2020
  • Track: Investments

Microsoft Excel is a tool often utilized in the investment world to analyze information.  By employing simple modeling techniques and using certain Excel functionality, we can transform raw portfolio data into a visually appealing format that allows us to review the various concentration risks of our portfolio.