Olivette pension committee accepts second-quarter report, approves $1.2 million shift from Principal to Baird core-plus

The Olivette City Pension Committee on Thursday accepted its second-quarter 2025 performance report from Marquette Associates and approved a set of rebalancing moves that include transferring $1.2 million out of Principal's core-plus product into a Baird core-plus fund.

Marquette Associates advisor Jonathan Bryant presented the quarterly book and told the committee the plan ended the quarter with $23,827,901 in market value and that the plan returned 6.7% for the quarter and 6.4% year-to-date. "You ended the quarter with $23,827,901," Bryant said while walking members through the report and manager-level performance.

The decision follows Marquette's recommendation to replenish the plan's core fixed-income sleeve (from which benefits are paid), reduce exposure to higher-fee Principal products on the plan platform, and reallocate modest amounts across equity and cash holdings. The committee approved a set of smaller rebalancing trades Jonathan presented (selling modest amounts in Vanguard S&P 500 and international funds, adding to the iShares small-cap fund, and contributing to Principal core fixed income to cover…