Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Pension Fund Investments topic
No spam. Unsubscribe anytime.
Treasurer reports multimillion-dollar transfers, $3 million capital call at Waterford Township trust meeting
Summary
At its Jan. 14 meeting, the Waterford Township Post-Retirement Health Care Trust recorded multiple transfers to cash, purchases of equity funds and a $3,000,000 capital call to TA Realty; trustees approved a consent agenda including a $10,000 invoice to Dahab Associates.
Treasurer Steven Thomas reported on Jan. 14 that the Waterford Township Post-Retirement Health Care Trust completed several portfolio moves, including the termination of the Deroy and Devereaux SMID account that moved $2,000,000 to D&D Fixed Income and $2,388,008.83 to cash.
Thomas told trustees the trust also transferred $301,750.94 in Barings cash to the trust’s cash account and closed the Public REIT account, moving its $1,880,865.68 balance to cash. The international/emerging ETFs account moved $713,488.48 to cash, and Seizert Large Cap transferred $1,000,000 to cash.
The treasurer reported new purchases funded from cash: $3,500,000 into a Fidelity large-cap fund and $700,000 into a Fidelity mid-cap fund. The trust also purchased a Vanguard Developed Markets ETF for $696,081.93 and a Vanguard Emerging Markets ETF for $295,704.97 using funds in the cash account.
Thomas reported a capital call for TA Realty of $3,000,000 and a distribution from Barings Capital Investments of $35,963.19. The reports were presented for the board’s information; no vote on investment policy changes was recorded at the meeting.
Steve Roth of Dahab Associates then presented preliminary performance figures as of Dec. 31, 2025 and the asset allocation as of Sept. 30, 2025. Attorney Cynthia J. Billings-Dunn provided the Robbins Geller December 2025 Portfolio Monitoring Report for informational purposes.
The trust did not take any formal action to change investment policy during the meeting. The board set its next meeting for March 11, 2026.
