IE Business Daily Business news for the Inland Empire.
Riverside County’s investment pool reached a record $18 billion in April, a sign of the county’s growing financial strength.
“We’re proud of our department for reaching this new milestone of $18 billion in the investment pool,” said Matthew Jennings, county treasurer-tax collector, in a statement on the county’s website. “This growth reflects the strength of our investment strategies, and the trust of our stakeholders.”
The county’s pooled investment fund has top ratings from two leading bond credit agencies, FitchRatings and Moody’s.
The pooled investment fund provides revenue essential for public services, infrastructure projects, and community initiatives. It focuses on preserving principal, maintaining liquidity, and maximizing returns, and is an important part of maintaining the county’s fiscal stability, according to the statement.
