Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Investments topic
No spam. Unsubscribe anytime.
Investment manager reports strong quarter; Edgewater portfolio in top decile
Summary
Mariner’s quarterly report to the Edgewater pension board showed positive returns (S&P up ~3.8% for the quarter, year up ~17%), portfolio up about 5% for the fiscal year and ranked in the top 10% among comparable plans, with managers and rebalancing plans discussed.
Mariner presented the pension plan’s quarterly investment report to the Edgewater Police Officers' Pension Board on Dec. 8, 2005, telling trustees the plan outperformed many peers and sits in the top 10% of comparable plans. The presenter highlighted gains across equities and fixed income: he cited the S&P 500 up about 3.8% for the quarter and roughly 17% for the last year, and said the plan was up about 5% for the fiscal year.
The presenter described the portfolio as a straightforward mix of stocks, bonds and a small real-estate allocation, noting a preference for keeping the manager roster concise rather than expanding to many small managers. He said the plan would continue to monitor cash-flow needs and sell winners as appropriate to meet payouts; staff flagged a roughly $150,000 disbursement made after the report.
Trustees offered brief praise and had no substantive questions. The manager said he would continue performance monitoring and report back at the next regular meeting.
