Page 488 - FortWorthFY23AdoptedBudget

Except as provided by Texas Government Code Chapter 2270, the City is not
required to liquidate investments that were authorized investments at the time of
purchase.

2. AUTHORIZED INVESTMENTS

Investments consistent with the objectives contained in Section II, herein, other
than those specifically prohibited shall be authorized. Equities will comprise a
diversified portfolio of domestic small, mid and large cap equity, Real Estate
Investment Trusts (“REITs”), and international equity investments.

Permitted Asset Classes and Security Types

Equity Securities
○ Domestic listed securities
○ Equity and equity-related securities of non-US corporations, in the
form of American Depository Receipts (“ADRs”)
○ Equity Mutual Funds and Exchange Traded Funds (ETFs)
○ Large Cap
○ Mid Cap
○ Small Cap
○ International
○ Emerging Markets
○ REITs

Fixed Income Securities
○ Fixed Income Mutual Funds and Exchange Traded Funds (ETFs)
○ Corporate
○ Government
○ High Yield
○ International
○ Bank Loan

If individual fixed income securities are purchased, the following parameters will
be followed:

Eligible Securities:

○ Debt obligations of the U.S. Government, its agencies, and Government
Sponsored Enterprises
○ Mortgage-Backed Securities (MBS)

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