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Investment officer reports rebalancing, $536M market value and ongoing federal cover-over advocacy
Summary
GERS' investment officer reported a month-end market value near $536 million, a strategic rebalancing that reduced equity targets from about 45% to 35% and moved 10 percentage points to fixed income. Trustees discussed continuing efforts to secure higher federal cover-over revenues in Washington.
The board’s investment officer reported portfolio performance for December 2024 and fiscal-year-to-date figures at the Jan. 23 meeting. The officer said total plan performance was down 1.7% for December, and the fund finished the month at an approximate market value of $535–$536 million. The report noted a net cash flow of about $20 million during the month to pay benefits and expenses and an unrealized depreciation of roughly $9.8 million for December.
The investment officer…
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