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Marquette Associates: SORP posts modest Q1 gain as markets rebound
Summary
Investment consultant Marquette Associates told the St. Mary's County Sheriff's Office Retirement Plan board that the fund returned 0.3% in the quarter, helped by non-U.S. equities and bond gains; private markets remain mixed. The board reviewed the report during its June 26 meeting and later voted to accept it.
Marquette Associates presented the retirement plan's first-quarter investment review during the St. Mary's County Sheriff's Office Retirement Plan meeting on June 26, 2025. The consultant reported a 0.3% return for the quarter and described a mixed market backdrop: U.S. GDP contracted in Q1 while non-U.S. equities and several fixed-income segments posted gains.
The presentation underscored why the report matters to plan participants and county officials: it framed short-term performance within ongoing strategic changes — notably manager changes in private credit and a rebalancing proposal later approved by the board.
Mr. Wing, the Marquette Associates presenter, opened the presentation by noting recent…
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