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Consultant: markets supportive but several plan funds need monitoring
Summary
The Highest Group told Vallejo committee members that U.S. equities and fixed income rallied on expectations for Fed easing, but flagged multiple funds on watch or as watch candidates. Consultants recommended continuing oversight of Mission Square Plus and other funds and presented manager-search candidates for the large-cap-growth slot.
Vincent of the Highest Group delivered a market and fund-monitoring update to the City of Vallejo Deferred Compensation Committee, emphasizing that market gains have been supported by expectations for Federal Reserve rate cuts but that several funds require continued monitoring or replacement consideration.
Market context: Vincent summarized macro indicators — a strong Q2 GDP print, still-elevated CPI and job-market signals that the Federal Reserve may lower rates further. Those expectations have supported both the US equity rally and a strong year-to-date return for bonds (Bloomberg…
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