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Investment manager reports quarterly gains for borough pension plans, discusses small crypto allocation option
Summary
An outside investment presenter told Franklin Park council members the borough—mployee pension plans are up about 3% year-to-date in May and just over 4% as of a recent day; he said international equities, a weaker dollar and exposure to gold miners helped performance and described a cautious, limited approach to adding crypto as a pension hedge.
An investment presenter identified in the meeting only as Jason told Franklin Park Borough Council members that the borough—mployee pension plans had returned a little over 3% as of May and ‘‘as of yesterday, we were up, a little bit over 4% for each net of all fees.’'
The presenter said the portfolio outperformance this year owed to higher non-U.S. equity allocations, a weaker U.S. dollar and gains in gold and gold-mining stocks, while fixed-income allocations were conservative. He noted specific plan movements: ‘‘The police plan is up another $66,000 this month. The general employees is up another 22 [thousand],’’ and added that international equity exposure was ‘‘up around 15%, year to date.’'
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