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Investment staff reports market volatility, $10 million treasurer cash balance and private‑fund wind‑down issues
Summary
Staff told trustees the plan is down in the quarter with diversified positioning helping; the treasurer’s cash balance was set at $10 million, capital calls totaled $12.9 million and distributions $8.8 million, and trustees discussed lingering unfunded commitments in legacy private funds.
Investment staff briefed the Imperial County Board of Retirement on market performance, cash positioning and private‑fund wind‑down issues during the meeting on April 16.
Staff said the S&P 500 entered correction territory for the quarter and that technology stocks underperformed; international equities and fixed income produced mixed returns. Real‑asset and private‑alternative figures were still being collected as quarterly reports arrived.
The treasurer’s cash balance was reported at $10,000,000. Staff said the amount was increased from smaller interim…
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