Trial Courts: Quarterly Investment Report for First Quarter of 2014

The Local Agency Investment Fund (LAIF) is a money market fund managed by the State Treasurer's Office and held by the state General Fund. LAIF invests only in high-credit-quality debt instruments with an average maturity between 120 days and 18 months to maintain safety and provide daily liquidity. The fund's investment yield is consistent with its conservative objectives, and it does not have a suitable benchmark for comparison. Public Funds Interest Checking (PFIC) accounts are Bank of America interest-bearing checking accounts that earn interest at a rate of 0.25% per annum and are fully collateralized with securities. LAIF performance reports are included as Attachment A, showing the fund's composition and performance as of March 31, 2014.