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LaSalle County Insurance Trust reviews investment report, cash position and fees
Summary
Trustees heard a quarterly investment report from their adviser, discussed account fees and cash levels, and voted to accept the report; adviser warned of near-term bond maturities and a possible future funding shortfall.
Sandy Billard, serving as temporary chair, called the LaSalle County Insurance Trust meeting to order March 20 and asked the board to accept the quarterly investment report presented by Mike Nugent.
The investment report showed the trust held $466,000 in cash awaiting disbursement and, separately, about $680,000 in cash balances that are earning approximately 4.2–4.6 percent. “As the account goes down, our fees go down, and, it equals about 23 basis points,” Nugent said, describing the trust’s investment advisory and custody charges.
Nugent told trustees the account’s bond maturities are concentrated in 2026–2028 and that, without new inflows or…
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