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Investment consultant reports pension fund gained value; equities overweight and active managers trailing benchmark
Summary
Mariner reported that the pension fund rose from about $25 million to $26.5 million in the June‑30 quarter and to nearly $27.5 million by Aug. 31, driven largely by market appreciation. The board reviewed allocations showing a modest equity overweight and noted underperformance by some active managers.
The pension fund rose to just over $26.5 million at quarter end June 30 and reached nearly $27.5 million as of Aug. 31, the board was told during its quarterly investment report.
Jack, the investment consultant from Mariner, presented the June 30 quarterly report and the shorter flash update through Aug. 31. He said market appreciation accounted for roughly $1.6–$1.7 million of the quarterly gain. "Contributions…
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