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Trustees replace underperforming manager with Fidelity 500 index fund to modestly boost AI exposure
Summary
The board voted to terminate a long‑underperforming manager identified in the transcript as "Poland" and to move that allocation into a Fidelity 500 index fund to gain measured exposure to top AI‑related stocks; trustees said the change is modest relative to the overall portfolio.
At the Nov. 12 meeting, the board approved replacing a persistent underperformer in the equity sleeve (referred to in the transcript as "Poland") with a Fidelity 500 index fund.
Investment staff and the plan’s consultant recommended the change after reviewing multi‑year performance data and noting the board’s…
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