Investment presenter urges restraint; board halts recall of $133,000 from American Realty

The Edgewater General Employees Pension Board heard an investment update on June 9 and approved a staff recommendation to cease recall of approximately $133,000 from American Realty, keeping the funds invested rather than calling them back.

An investment presenter told trustees that recent quarters have shown sharp volatility — including swings driven by currency moves, tariffs and sector rotation — and said the board should avoid making dramatic portfolio changes. "This is not a time to say, let's change our portfolio a lot," the presenter said, later recommending modest continued exposure to high-quality private real estate.

The presenter noted that the plan has been taking profits from U.S. equities to pay benefits and highlighted private real estate as a slower-moving asset that can participate in upside without excessive turnover. He reported that American Realty holdings have been largely well-occupied and recommended leaving the roughly $133,000 where it is rather than recalling the funds.

Following that recommendation, a trustee moved to halt the recall of $133,000 from American Realty in New York; the motion was seconded and approved by voice vote.

Trustees also approved routine consent-agenda business, including invoices totaling $22,391.14 and the fund activity report. Chair adjourned the meeting at 10:52 a.m.