Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Investment Report topic
No spam. Unsubscribe anytime.
Investment consultant reports portfolio just under $970M; equities and currency movements drove YTD gains
Summary
Patty, the investment consultant, reported the pension portfolio was valued just under $970,000,000 as of September, up 10.4% year-to-date; emerging-market and non-U.S. equities and a weaker dollar were noted as key drivers of returns.
Patty, the investment consultant, presented the monthly investment report. She said equity markets continued to climb to new highs and that emerging-market and international developed-market equities were among the strongest year-to-date performers, helped in part by a roughly 10% decline in the dollar.
Patty reviewed asset allocation targets (60% equities, 25% fixed income, 15% real assets) and reported the portfolio was valued just under $970,000,000 as of the September reporting date. She said the portfolio returned about 4.4% for the quarter and about 10.4% year-to-date on a net-of-fees basis, with multiple equity managers contributing to the gains rather than a narrow group of stocks.
She noted that historically government shutdowns have produced minimal near-term market impact and discussed how currency translation has materially helped non-U.S. returns for the portfolio. The board moved and approved receipt of the monthly investment report.
