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Board declines move to collective investment trust after advisers cite small savings, legal complexity
Summary
After a share‑class review, the board decided not to move a $3.0 million Harbor Capital holding into a collective investment trust; consultants estimated $6,300 in annual savings but noted added legal, liquidity and indemnification risks.
The Englewood City Pension Board decided against switching one of its mutual‑fund holdings into a collective investment trust (CIT), after advisers said fee savings were modest relative to added legal and operational complexity.
Consultants presented a comparison showing the Harbor Capital Appreciation holding (about $3,000,000) would drop the plan’s net expense ratio from roughly 0.59% to 0.38% in a…
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