Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board of Trustees hears investment update; portfolio about $68.5 million, asset-allocation study planned
Summary
At the Feb. 26 Board of Trustees meeting Tim Burdick reviewed market conditions and the trust portfolio (about $68.5 million as of January), recommended keeping a conservative intermediate-duration bond posture and proposed an asset-allocation study before the July inflow.
At a Feb. 26 Board of Trustees meeting, investment presenter Tim Burdick gave a market and portfolio review showing the trust’s portfolio at about $68.5 million as of January and recommending an asset-allocation study before the July 1 inflow.
Burdick told trustees the presentation covered recent market performance, results for the portfolio since the manager was engaged in April, and a brief profile of the fixed-income manager Baird Advisors. "I tried to make it as recent as possible, so it's through the January," he said, noting the portfolio earned roughly $5.4 million in realized and unrealized gains since inception, about an 8.8% return in the nine months reported.
The update placed U.S. equity strength in 2024 in context — "the S and P up 25" — and warned of market concentration and…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
