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Mariner reports small quarterly loss but fund broadly in line with targets; boards review IPS and Bitcoin query
Summary
Mariner told Cocoa Beach police and fire pension boards the funds were marginally down for the quarter to March 31, with both plans close to target allocations; the consultant also reviewed the boards’ investment policy statement and presented a hypothetical 2% Bitcoin allocation analysis.
Mariner told the Cocoa Beach Police and Fire Pension boards that both funds were marginally negative for the quarter ending March 31 but generally close to their asset-allocation targets, and the consultant reviewed the boards’ investment policy statement and answered questions about a hypothetical Bitcoin allocation.
Carrie, Mariner’s investment consultant, said the fire fund stood at about $19,010,000 and the police fund at about $18,600,000 as of March 31 (figures exclude a separately reported ASB position that would modestly improve returns when included). “You were marginally negative … on the order of down about 60 basis points,” Carrie said. She noted that the ASB…
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