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Board hears Marquette on Q4 performance, approves $1M trim from emerging-markets fund for liquidity
Summary
Marquette Associates reported a 2% Q4 return for the sheriff’s office retirement plan, noted market concentration in tech-driven sectors and private-market reporting lags, and recommended trimming $1,000,000 from the Fidelity Emerging Markets Index to the money market to cover roughly $4 million in upcoming capital calls; the board approved the move.
Patrick Wing of Marquette Associates presented the sheriff’s office retirement plan board with the fund’s Q4 2025 investment review and a short recommendation to rebalance assets.
Wing told the board the plan returned about 2% for the quarter, with calendar-year-end market value just under $185 million and more recent assets of roughly $189.5 million as of Feb. 19. He said public markets performed modestly, with non-U.S. and emerging markets outperforming U.S. equities, while private-market statements remain delayed and may upwardly revise performance once…
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