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Carbon County retirement board hears investment manager review showing portfolio near $99.3 million
Summary
Market Associates presented the retirement board with a third‑quarter review; the portfolio value was reported as $99,304,843.28 as of Oct. 31, 2025, and year‑to‑date returns and manager changes were discussed; the board plans actuarial RFPs next month.
The Carbon County Retirement Board met Nov. 24 and heard a quarterly portfolio review from Sarah Wilson of Market Associates via Zoom.
Wilson reviewed macro developments, asset‑class performance and manager changes, and said the portfolio value was $99,304,843.28 as of Oct. 31, 2025. She reported total disbursements for October (monthly benefits and refunds) of $662,832.22 and noted year‑to‑date returns and manager‑level performance. The presentation said the portfolio has annualized returns since inception near 9.3% and net investment gains in the range reported in the presentation; the manager team also described replacing Artisan with WCM and reducing overall fees.
Why it matters: the retirement fund finances monthly benefit payments and contributes to pension funding assumptions used by county budgeting officials. Board members asked questions about manager performance, small‑cap exposure and fee reductions; Wilson said the board will meet in December to review actuarial RFPs and presentations.
What happens next: the retirement board will review actuarial RFP responses in December and continue monitoring manager performance and allocation adjustments. The board and manager recommended continued diversification and close monitoring of small‑cap and active managers.
Attribution: investment manager Sarah Wilson presented the data and commentary during the retirement board meeting; figures above are taken from her presentation in the Nov. 24 session.
