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Hooksett trustees hear investment firm review of reserve and trust funds
Summary
Investment advisor from 3 Bearings told Hooksett trustees the town's common capital reserve and common trust funds are near target allocations and produced modest returns; trustees asked for reports to be posted online and noted upcoming withdrawals for town projects and accounts.
Zachary Zwick, an investment representative from 3 Bearings, reviewed Hooksett's common capital reserve fund and common trust funds at a trustees meeting and said the portfolios are close to target allocations and produced modest recent returns.
In a presentation to the Hooksett Trustees of Trust Funds, Zwick reported a three-month net time-weighted return of 2.3% for the common capital reserve fund and a 12-month return of about 6.5%. He said the fund's allocation is roughly 15% equities and 85% bonds and that the firm's strategy is constrained by state RSAs to high-credit-quality domestic securities: "we go by the RSAs that are currently on the books" and that restricts…
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