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Mariner reports mixed quarter; boards accept report and continue manager reviews
Summary
Mariner presented the Dec. 31 quarterly investment performance to Jacksonville Beach pension trustees; trustees accepted the report while Mariner outlined manager-specific performance, a slight underweight in equities as of Dec. 31 and a gradual exit from one real estate manager.
Mariner presented the Jacksonville Beach pension plans' quarterly investment results for the period ending Dec. 31 and the three trustee boards accepted the report on Feb. 25.
Mariner's presenter (Bridal) summarized market volatility in the quarter, noting disparities between U.S. large-cap gains and international declines. "There was actually a ton of volatility within the quarter," Bridal said, and he pointed to international equities falling roughly 7–8% while the S&P 500 rose about 2.4% for the quarter.
Key portfolio and manager notes
- Overall performance: The consolidated portfolio was down modestly for the quarter (about 56 basis…
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