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Mental Health Board moves $6 million into two investment accounts, sets quarterly reporting
Summary
The McHenry County Mental Health Board moved $4 million into a Schwab separately managed account and $2 million into an iPrime account, splitting funds between a liquid, money-market–like account and longer-term investments; quarterly investment reports will begin late January.
The McHenry County Mental Health Board voted through its routine business and heard an investment update showing $6 million has been moved into two brokerage accounts to diversify liquidity and long-term holdings. Mel told the board that in October $4,000,000 was placed into a Schwab separately managed account and about two weeks ago $2,000,000 was moved into an iPrime account.
Mel said the accounts were structured so one functions like a money-market account with easier access to funds and the other is intended for…
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