San Mateo County Community College District wants to diversify its financial portfolio
The San Mateo County Community College District wants to diversify its portfolio rather than fully invest in the county pool fund.
At the Dec. 15 meeting, the Board of Trustees entertained alternative financial strategies to prevent fiascos like the the district's $25 million loss due to the county fund's investment in Lehman Brothers. The board, frustrated by budget pressures and uncertainties in state funding, discussed the district's ability to invest independently.
"I feel like we're putting our funds at undue risk by having 100 percent invested with the county," said Board of Trustee Vice President-Clerk Dave Mandelkern.
The district decided to investigate the legal issues surrounding investment reallocation.