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Investment advisor reports pension plans back in positive territory after volatile quarter
Summary
An investment adviser updated council on the borough's police and general-employee pension plans, saying diversification and international equities helped both plans finish the reported period in positive territory despite recent market volatility.
An investment advisor, introduced to the council as Jason Bailey of Shire Dows, presented the latest report on the borough's police and general-employee pension plans and said both plans were in positive territory as of the report date.
Bailey told council that market volatility had driven active manager opportunities and that international developed equities had outperformed U.S. large-cap year-to-date, helping the plans recover. He said the plans' diversified exposures to fixed income, real assets (infrastructure, farmland, timber) and international equities allowed managers to deploy capital during market dislocations.
Bailey and council discussed geopolitical risks, tariff uncertainty and Federal Reserve policy as the main near-term concerns. Council members asked whether to increase allocations to European equities; Bailey said modest reweighting toward international developed markets was sensible but cautioned against abandoning U.S. exposures. No formal changes to target allocations were proposed at the working session.
Ending
Council thanked the advisor for the update and asked staff to include the full report in the meeting packet; no action was taken at the session.
