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Pension board adopts updated investment policy statement; adds cash position and compliance language on anti‑boycott rule
Summary
The Punta Gorda City Pension Board unanimously approved revisions to its investment policy statement that add a 2% cash allocation, adjust fixed‑income targets and incorporate state compliance language prohibiting business with companies that boycott Israel.
The Punta Gorda City Pension Board unanimously adopted an updated Investment Policy Statement (IPS) that adds a 2% cash position, adjusts fixed‑income targets and inserts state compliance language related to companies that boycott Israel.
Jack, the investment consultant from Mariner, reviewed the redline IPS and described the main changes. He said the board added a 2% cash allocation, reduced the domestic fixed‑income target from 20% to 18% and adjusted corresponding floor targets. "From a…
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