Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
FCPS OPEB trust posts quarterly gains; advisors urge phased private‑credit additions to approach 7.5% target
Summary
Segal Marco reported the OPEB trust held roughly $231 million and posted about $12.2 million in paper gains for the quarter; advisors presented a pacing study showing current private‑credit commitments leave the allocation well below the 7.5% policy target and modeled additional $10M commitments to move toward the target over several years.
Christian Sevier of Segal Marco told the Frederick County Public Schools OPEB Trust Fund Investment Committee that the plan’s assets were about $231,000,000 as of Wednesday’s close and that the quarter produced roughly $12,200,000 in investment gains. "That investment gain of 12,200,000.0 translates to a return of 5.7%," Sevier said during the committee’s review of the third‑quarter performance packet covering the period ending Sept. 30, 2025.
Sevier framed the strong results as driven largely by equity markets and interest‑rate moves: calendar‑year returns through September included an S&P 500 advance near 15%, while bonds also produced solid year‑to‑date gains. He said those returns, plus the plan’s asset allocation, explain much of the fund’s recent performance.
The committee spent the bulk of its meeting on the trust’s private‑credit allocation, a relatively new commitment for the plan. Sevier…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
