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Quarterly investment report: equities led strong returns; active managers lagged benchmarks
Punta Gorda City Pension Board · December 19, 2025
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Summary
The board heard that equities drove strong quarterly returns (S&P up over 8%, small caps +12.4%) while many active managers underperformed passive benchmarks; the investment consultant recommended monitoring underperformers but staying invested for now.
Trustees received the regular quarterly investment report covering the fiscal quarter ended Sept. 30 and a flash update through Nov. 30. The consultant said equity markets outperformed bonds in the quarter, noting S&P returns above 8% and small-cap performance of roughly 12.4%.
The…
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