State Operating Fund
Pooled Money Characteristics
The Pooled Money portfolio had an average-weighted maturity of 342.12 days and an average-weighted yield to maturity of 1.10% on June 30, 2009. The annualized rate of return for Fiscal Year 2009 was 2.40%.
The allocation of portfolio investments on June 30, 2009 was 66.84% invested in securities issued by U.S. government agencies and instrumentalities; 28.96% invested in mutual fund liquidity accounts; 4.43% invested in certificates of deposit (Invest in Iowa); 0.68% invested in commercial paper; 0.45% invested in corporate notes and bonds; and 0.40% invested in U.S. Treasuries.
Pooled Money investment maturities on June 30, 2009 were distributed as follows: 14.03% maturing within 1 to 29 days; 40.88% maturing within 30 to 180 days; 17.19% maturing within 181 to 364 days; 9.97% maturing in 1 to 2 years; 12.14% maturing within 2 to 3 years; 4.21% maturing within 3 to 4 years; 1.18% maturing within 4 to 5 years; and 0.40% maturing within 5 to 10 years.
The following chart indicates the percentage of Pooled Money investments in each asset class on June 30, 2009.
The following chart provides a snapshot of the distribution of Pooled Money investment maturities on June 30, 2009.
Pooled Money Investment Results
The interest earned on pooled money investments is an important revenue source for state agencies and the general fund. For the fiscal year ended June 30, 2009, the Pooled Money Investment Fund earned $58.2 million on an average daily investment balance of $2.42 billion for an annual return of 2.40%. Interest earnings for the Pooled Money portfolio depend upon the amount of money available for investment and upon the yields of the investments. Pooled Money investment earnings and average daily investment balances for the past six fiscal years are shown below.
| Fiscal Year | Investment Earnings | Average Daily Investment Balance |
|---|---|---|
| 2009 | $58,261,213 | $2,423,035,855 |
| 2008 | $122,895,754 | $2,776,513,527 |
| 2007 | $119,412,533 | $2,387,486,180 |
| 2006 | $82,564,000 | $2,178,360,000 |
| 2005 | $47,567,000 | $1,788,237,000 |
| 2004 | $32,709,000 | $2,182,672,000 |
