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Murfreesboro trustees approve FY26 budget and shift 5% of portfolio into infrastructure and private equity
Summary
The Murfreesboro Community Investment Trust board approved its fiscal year 2026 budget and voted to reallocate 5% of the trust—portfolio, moving 2.5% from fixed income into a JPMorgan infrastructure fund and 2.5% from U.S. equity into private equity/evergreen funds.
The Murfreesboro Community Investment Trust Board of Trustees approved the fiscal year 2026 budget and authorized a 5% reallocation of the trustbportfolio during its regularly scheduled meeting.
The budget and asset-allocation changes were the meetingbtwo substantive items handled by the board. Chair (K.) opened the agenda item on the budget and asked whether board members had reviewed the proposed documents. The board then adopted the fiscal year 2026 budget by voice vote; no opposition was recorded.
Why it matters: The trustbmanages distributions tied to a spending policy of 5% and targets a 7.5% return. The boardbdecision adjusts the investment mix to lower near-term liquidity and pursue higher expected long-term returns, while keeping allocations within policy limits.
Investment consultant Tim Burdick summarized markets and recommended two incremental changes to the policy. "Our recommendation is to change the asset allocation…
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