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Investment consultant recommends rebalancing into core fixed income; board approves transfers
Summary
The board approved a consultant recommendation to shift about $539,000 into the principal core fixed-income fund to improve liquidity and funding for benefit payments; the consultant also reported $798,000 remains in a redemption queue and preliminary July returns.
An investment consultant presented a second-quarter market update and recommended a tactical rebalancing to move approximately $539,000 into the principal core fixed-income fund to improve liquidity for benefit payments.
The consultant noted the plan’s market value appears in the $22 million–$23.25 million range depending on statement dates. He reported about $798,000 remained in the redemption queue for a principal U.S. property fund after recent…
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