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Trustees approve pursuing Mavic real‑estate debt fund allocation after manager’s positive performance review
Summary
After a quarterly presentation showing both plans outperformed benchmarks, trustees approved the investment presenter’s recommendation to pursue Mavic, a real-estate debt manager, and authorized staff to source $1 million commitments (about 5% target) and to fund capital calls from overweighted positions.
The board received a quarterly investment presentation showing both the fire and police plans outperformed benchmark indices in the quarter and over a 10‑year horizon. After discussing asset-allocation implications and fees, trustees voted to accept the presenter’s recommendation to pursue a commitment to Mavic, a real‑estate debt fund.
Why it matters: The presenter…
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