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Cocoa Beach pension adviser reports modest quarterly gains, updates fund balances and manager actions
Summary
At the February meeting, the Cocoa Beach Police and Fire Pension Boards received an investment update from Carrie reporting roughly 1.8% net quarterly gains, updated January fund balances (Fire ~$22.685M; Police ~$21.86M), an ongoing ASB liquidation and an expected capital call for a commitment to Mavic real‑estate.
Carrie, the boards' investment presenter, told the Cocoa Beach Police and Fire Pension Boards that both funds began the new fiscal year with modest positive returns and healthy asset levels. She reported quarterly net performance of about 1.8% for each fund and said long‑term results remain strong: roughly an 8.5% return over the past 10 years.
"For the quarter for fire, we were up just about 1.8% ... On the police side, obviously very similarly, also up about 1.8," Carrie said, summarizing performance across domestic and international equity and fixed‑income sleeves. She attributed the quarter's results to a late rotation into value, stronger international returns aided by a weaker U.S. dollar, and relatively static…
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