The city had $950.3 million in its investment portfolio as of Dec. 31, 2023.
Of that amount, $297.5 million is held in short-term investments (bonds and GICs) which mature in less than a year, as well as FortisBC shares and cash in the city害羞草研究所檚 bank account.
Long-term investments, maturing in one to 10 years, total $493.5 million. There is also $159.4 million in the city害羞草研究所檚 endowment fund.
害羞草研究所淚n 2023, the city害羞草研究所檚 average rate of return was 3.9 per cent,害羞草研究所� said Melanie Antunes, financial planning manager. 害羞草研究所淕iven our investment mix害羞草研究所s investments mature, the city is reinvesting in higher-yielding investment vehicles.害羞草研究所�
The strategy provides more predictable cash flows and more accurate budgeting.
The city害羞草研究所檚 portfolio experienced its lowest rate of return in 2021 when interest rates around the world neared zero.
害羞草研究所淭he Bank of Canada started raising interest rates in 2022 and the City of Kelowna has garnered more favourable investments as a result of the increase in interest rates during 2022 and 2023,害羞草研究所� Antunes added.
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