Burnaby's Investment Portfolio Reaches $2.23 Billion in 2023

The City of Burnaby's Financial Management Committee received a report on the city's investment portfolio as of the end of 2023. The portfolio totaled $2.23 billion, with a return of $97.65 million at an annual yield of 4.04%.

• The city's investment portfolio reached $2.23 billion as of December 31, 2023.
• The portfolio generated a return of $97.65 million, with an annual yield of 4.04%.
• Treasury Services will monitor markets for investment opportunities in 2024.

• Policy: The city's Investment Policy ensures adherence to legislative requirements, with a focus on diversification and strong internal controls.
• Investments: The city invests in short and long-term products to ensure liquidity and sustainable growth.
• Banking Relationships: Treasury Services monitors financial institutions for risk mitigation and investment procedures. Banking relationships remained consistent during 2023.
• Socially Responsible Investing: Strategies will be implemented to support the city's Corporate Strategic Plan.

• Central banks are expected to increase interest rates to combat rising inflation and economic challenges.