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Winter Springs board approves $2.7 million rebalancing, shifts funds from RBC Global to Vanguard short-term bond fund
Summary
The Winter Springs pension board voted to liquidate assets and move $2.7 million into a Vanguard 1–3 year short-term bond fund, reducing international equity exposure and increasing short-term bond holdings to strengthen liquidity amid high cash balances.
The Winter Springs Pension Board voted to liquidate assets and move $2.7 million into the Vanguard short-term bond fund, following a staff recommendation to rebalance the system’s equity allocation.
The action came after David West, a board presenter, reviewed the retirement system’s fiscal-year close and recommended taking profits from equities and reinvesting them in short-term bonds. "My recommendation is going to be to rebalance our equity allocation ... rebalance to the tune of $1,700,000 and my recommendation is to pull that from the Vanguard Total Stock Market Index Fund," West said…
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