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Trust funds report shows double‑digit one‑year gains, staff says
Summary
Staff told the board that trust funds had positive monthly returns and one‑year returns exceeding roughly 21.6% (described as about 22%), with active managers contributing to results and risk‑management cash held in trust accounts.
At the meeting, staff presented an analysis of city trust funds and the board approved the trust funds report.
The staff member said monthly trust returns were in the range of roughly 0.8% to 1.6% and that one‑year returns were "in excess of 21.6, largely, about 22, percent or more," attributing gains to an overweight equity posture and active manager contributions. Staff emphasized that cash levels were being maintained for risk management.
The board moved to accept the trust funds report and voted in favor.
