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Quarterly performance review: board hears Greystone report, votes to move short-term fixed income to Genter Capital; private-credit education deferred
Summary
After a quarterly performance review and long discussion of market drivers, trustees voted 5–1 to move the board’s short-term fixed-income allocation to an intermediate mandate with Genter Capital (subject to negotiation). A broader education on private credit and private equity was scheduled for a future meeting.
During its Sept. 25 meeting the General Employees Pension Plan Board heard the quarter‑end performance review from consultants and managers, discussed market drivers and alternatives, and authorized a change in the fixed-income mandate.
Scott (investment consultant) led a review of the pension portfolio’s quarterly and 12‑month returns. He noted the plan’s one‑year return exceeded its 6.2% target and reported the portfolio was at an all‑time high market value. The consultant and trustees discussed market drivers — including tariff talk and recent volatile moves that favored speculative, high‑beta…
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