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Trust committee approves $750,000 rebalancing from emerging‑markets equity into core plus bond fund
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Summary
The St. Mary's County OPEB trust committee approved a $750,000 redemption from the DFA Emerging Markets Core Equity Fund to the Loomis Sayles Core Plus Bond Fund by voice vote after the investment presenter recommended the modest reallocation to reduce equity exposure and increase fixed income.
At the April 24 meeting, the St. Mary's County OPEB trust committee approved a rebalancing motion to redeem $750,000 from the DFA Emerging Markets Core Equity Fund and invest the proceeds in the Loomis Sayles Core Plus Bond Fund.
John Walter (citizen representative) moved the motion and it was seconded; the motion passed on a voice vote. Patrick Wing had recommended the modest shift as risk management to "take a tad of risk off the table" and to better align the trust with current targets. "We are recommending the board approve a $750,000 redemption from DFA Emerging Markets Core Equity Fund and move that money...into the Loomis Sayles Core Plus Bond Fund," Wing said during his presentation.
Administrator Joy Sapp reported afterwards that there have been no capital calls since the prior meeting, that the fund paid $47,009.77 to three invoices, and that the fund has reimbursed the county $3,000,007.28 to date; the next quarterly reimbursement is scheduled in June and the next meeting on the agenda is June 26, 2026.
Motion details
Motion text: "Approve removing $750,000 from DFA Emerging Markets Core Equity Fund and adding that money, all of it, to Loomis Sayles Core Plus Bond Fund." Mover: John Walter (citizen representative). Second: David Weiskopf (Chairperson and County Administrator). Vote: approved by voice vote ("Ayes have it").
The committee did not record a roll‑call tally of individual votes in the transcript; the chair announced the motion carried. The rebalancing is modest in scale relative to the trust and was presented as part of routine rebalancing to address an overweight position in emerging markets equities.
