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Danville council to discuss investment report

Investment managers point to tentative hope for economic growth in 2022, depending on global health outlook

The Danville Town Council is set for a presentation on the latest information about the town's investments, in a quarterly report at their regular meeting Tuesday evening.

Town of Danville logo.

The report, prepared by Chandler Asset Management, contains up-to-date information on relevant economic conditions, and the town's account profile, portfolio holdings, and transactions over the past quarter.

The town's asset managers predict modestly above-trend economic growth this year, depending on the continued impacts of the COVID-19 pandemic, and on new treatments and vaccinations aimed at contending with variants such as omicron.

"Given the high level of uncertainty regarding omicron’s impact on the global health situation, supply chains, and the broader economy, we expect financial market volatility will be elevated over the near-term," the investment report set for discussion Tuesday said. "Inflation readings continue to run hot, but market based inflation expectations remain relatively contained and we believe inflation may be at or near a peak. We expect supply chain bottlenecks will continue to put upward pressure on prices over the near-term but should improve during 2022."

In total, the town holds $12,650,836 in local agency investment funds (LAIF). Of this, $12,575,566 is managed by the town, with Chandler managing $75,270. Funds managed by the town have an 0.203% annual yield.

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The Danville Town Council's regular meeting is scheduled for 5 p.m. on Tuesday. The agenda is available here.

In other business

Councilmembers are set to hear a monthly report from Danville Town Manager Joe Calabrigo.

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Danville council to discuss investment report

Investment managers point to tentative hope for economic growth in 2022, depending on global health outlook

by / Danville San Ramon

Uploaded: Mon, Jan 10, 2022, 8:41 pm

The Danville Town Council is set for a presentation on the latest information about the town's investments, in a quarterly report at their regular meeting Tuesday evening.

The report, prepared by Chandler Asset Management, contains up-to-date information on relevant economic conditions, and the town's account profile, portfolio holdings, and transactions over the past quarter.

The town's asset managers predict modestly above-trend economic growth this year, depending on the continued impacts of the COVID-19 pandemic, and on new treatments and vaccinations aimed at contending with variants such as omicron.

"Given the high level of uncertainty regarding omicron’s impact on the global health situation, supply chains, and the broader economy, we expect financial market volatility will be elevated over the near-term," the investment report set for discussion Tuesday said. "Inflation readings continue to run hot, but market based inflation expectations remain relatively contained and we believe inflation may be at or near a peak. We expect supply chain bottlenecks will continue to put upward pressure on prices over the near-term but should improve during 2022."

In total, the town holds $12,650,836 in local agency investment funds (LAIF). Of this, $12,575,566 is managed by the town, with Chandler managing $75,270. Funds managed by the town have an 0.203% annual yield.

The Danville Town Council's regular meeting is scheduled for 5 p.m. on Tuesday. The agenda is available here.

In other business

Councilmembers are set to hear a monthly report from Danville Town Manager Joe Calabrigo.

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