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Pension board adopts May rebalancing across police, fire and O&E funds
Summary
The Allentown Pension Board voted to adopt rebalancing recommendations from Marquette that trim broad U.S. equity exposure and shift assets into equity-income and bond allocations for the police, fire and O&E (other and employees) plans.
The Allentown Pension Board on May 20 adopted rebalancing recommendations from its investment advisor, Marquette, designed to reduce exposure to the largest, most volatile U.S. stocks and to modestly increase higher-income equity and fixed-income allocations.
The boardapproved the package in a roll-call vote after Marquette presented quarterly performance data and cash-flow projections. Pat, the Marquette presenter, told trustees that the proposal was intended to trim broad-market exposure that had benefited from large-cap leadership earlier in the year and to prime the funds for a more volatile window ahead. "We're proposing a $1,000,000 redemption from the Vanguard Total Stock Index into the Vanguard Equity…
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