Cocoa Beach pension adviser reports modest quarterly gains, updates fund balances and manager actions

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 long‑term interest rates.

Carrie gave updated fund‑balance figures through the last business day of January, reporting the fire fund at about $22,685,000 and the police fund at about $21,860,000. She also reviewed current asset allocation, stating both plans held roughly 51–52% in domestic equity, about 16.5% in international equity, roughly 16–17% in domestic fixed income, about 9% in real estate and roughly 2% in cash.

On manager performance, Carrie identified a handful of managers and sleeves by name (Touchstone, Winslow, Brandywine, Vanguard, DFA, PIMCO, Dodge & Cox) and noted relative strengths and weaknesses: Touchstone struggled in mid‑cap growth; Winslow faced headwinds from certain large‑cap growth holdings; Brandywine trailed as its value/quality tilt underperformed. She said international value (notably DFA) outperformed, and that PIMCO and Dodge & Cox provided positive results in fixed income.

Carrie also addressed real‑estate exposure and active holdings. She reminded the board of a prior commitment to Mavic, saying paperwork is in place and she expects capital calls in the coming months to deploy that allocation. On a separate real‑estate holding (referred to as ASB), Carrie said the plan is "in full liquidation, meaning we've asked them for our money back there," noting the manager reported significant property sales and has reduced office exposure to roughly 10% of that portfolio.

A board member asked whether the funds hold dedicated investments in critical minerals or precious metals. Carrie said the funds have no dedicated allocation but that some managers—she cited DFA—hold mining names (she named Barrick Mining as an example). "We obviously don't have any dedicated investments to that, but your managers may choose to do that," she said.

Carrie closed by offering to provide updated, electronic performance reports via email for members who missed portions of the presentation and to circulate the detailed numbers ahead of the next meeting.

Next steps: the boards asked staff and presenters to email detailed manager updates and any proposed interim‑authority language before the May meeting so members can review materials in advance.