Cocoa Beach pension managers report flat quarter, expect modest equity gains and steadier bond returns in 2025

At a quarterly meeting of the Cocoa Beach Pension Board, investment presenters said the board’s Sterling Capital–managed portion of the pension was essentially flat for the most recent quarter and that managers expect modest equity gains and steadier bond income in 2025.

The report from Sterling Capital, presented by Blake Myton, said U.S. stocks produced strong one‑year returns driven by a small group of large technology companies and that the firm is positioning the portfolio for broader market participation and a “high single digits” equity return for the year. “We’re pretty flat for the quarter,” Myton said, and he added, “high single digits is a pretty realistic equity expectation for this year.”

Myton said the Russell 3000 and other broad indexes were carried in 2024 by a handful of AI‑related companies; growth significantly outpaced…