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(ii) Have retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years' experience investing in the securities and obligations authorized by California Government Code, Section 53601 and with assets under management in excess of $500 million. • No more than 10% of the total portfolio may be invested in shares of any one mutual fund. b. Money Market Mutual Funds registered with the Securities and Exchange Commission under the Investment Company Act of 1940 and issued by diversified management companies and meet either of the following criteria: (i) Have attained the highest ranking or the highest letter and numerical rating provided by not less than two (2) NPSPOs; or (ii) Have retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years' experience managing money market mutual funds with assets under management in excess of $500 million. • No more than 20% of the total portfolio may be invested in the shares of any one Money Market Mutual Fund. c. No more than 20% of the total portfolio may be invested in these securities. m. Managed Portfolio for Pension Liabilities City Council authorized setting up a Section 115 Pension Trust Fund (Trust Fund), The Trust Fund assets will be managed by an external manager and the investment policy related to the trust will be a separate document that is approved by the City Council. n. California Asset Management Program (CAMP) California Asset Management Program "CAMP" is a California Joint Powers Authority ("JPA") established in 1989 to provide California public agencies with professional investment services. The CAMP Pool is a permitted investment for all local agencies under California Government Code Section 53601(p). The aggregate investment in CAMP shall not exceed 30% of the City's investment portfolio. o. Supranational Organizations Securities United States dollar denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by IBRD, IFC, or IADB, with a maximum remaining maturity of five years or less and eligible for purchase and sale in the United States. Purchases are limited to securities rated in a rating category of "AA" or its equivalent or better by an NPSPO. The aggregate investment in Supranational Organizations Securities shall not exceed 30% of the City's investment portfolio. No more than 10% of the portfolio may be invested in any single issuer. Supranational Organizations Securities are permitted investment under California Government Code 53601(q). p. Collateralized Bank Deposits City's deposits with financial institutions will be collateralized with pledged securities per California Government Code, Section 53651. There are no limits on the dollar amount or percentage that the City may invest in collateralized bank deposits. q. Asset -Backed, Mortgage -Backed, Mortgage Pass -Through Securities, and Collateralized Mortgage Obligations From Issuers Not Defined in Paragraphs d. and e. of the Authorized 248