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Portsmouth pension advisers report strong April gains; fire & police plan 71% funded at end of March
Summary
Consultants told the Portsmouth Pension Board that April’s market rebound pushed plan-year returns to about 13.5% net of fees, but the fire & police system’s funded ratio fell to 71% at the end of March, a decline advisers tied to first-quarter losses and a delayed employer contribution.
Consultants told the Portsmouth Pension Board that a broad market rally in April and strong corporate earnings have materially improved plan-year returns, but the fire and police pension remained 71% funded as of March.
Brian, an investment consultant, told the board that “the good news is that markets are better in April. We had the best return in equity markets, best monthly return in the month of April, since, April 2020.” He and co-presenter Jim said late-April headlines and a reported ceasefire drove a rapid market rebound after a weak first quarter when the S&P 500 fell roughly 4.5% and the Nasdaq fell over 7%.
The consultants said that, when April is included, the plan’s return since the 2025 plan year began (06/30/2025) is about 13.5% net of all fees. “That is almost double what the actuary…
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