Wilbraham commissioners approve moving longtime cemetery stock certificates into managed accounts

The Board of Cemetery Commissioners voted on July 14 to authorize the Town Treasurer to convert the cemetery's long-held Bliss Funds stock certificates and the General Perpetual Care account into professionally managed brokerage accounts overseen by Bartholomew & Company.

Town Treasurer Barbara Hancock described the Bliss Funds as “individual stock certificates dating back to the 1950s” and said the town’s goal is to modernize those holdings by replacing paper certificates with managed accounts that will be folded into the Town’s investment portfolio. Hancock told the commissioners the change would allow diversified investments, simplify ongoing management, and generate monthly reports for the Commission. She also said the accounts would be managed in accordance with the Massachusetts Prudent Investor Rule and the Town’s established investment policy.

Commissioner Todd Magill moved “to grant the Town Treasurer to authorize the divesting of the Cemetery’s existing stock certificate holdings into professionally managed investment accounts with Bartholomew & Company, to be managed as part of the Town’s investment portfolio in accordance with the Massachusetts Prudent Investor Rule and the Town’s established investment policy.” Commissioner Walker Eaton seconded the motion, and the motion was passed. The minutes do not record a roll-call tally.

Cemetery Accountant Wilfred Renaud was listed as present; the Commission thanked Hancock for her presentation. The board directed the Treasurer to proceed with the arrangements and to provide monthly reporting back to the Commission once accounts are established.