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Rockledge pension funds post strong quarterly gains; portfolios exceed benchmarks
Summary
Mariner reported roughly +5.5% net quarterly returns for Rockledge’s General, Fire and Police plans and fiscal‑year gains near 13%, outperforming a 12.6% benchmark; fund balances were listed in the minutes.
Investment consultant Tyler Grumbles of Mariner presented the quarterly performance and said all three plans posted gains of approximately 5.5% for the quarter, driven largely by fixed income performance. For the fiscal year the plans rose about 13%, exceeding a 12.6% benchmark; three‑year annualized returns exceeded 15% and five‑year returns averaged about 10%.
The minutes list plan balances and net quarter returns: General Employees’ Plan $28,031,608 (+5.47% quarter net of fees), Fire Employees’ Plan $18,548,219 (+5.47% quarter net of fees), and Police Employees’ Plan $22,571,245 (+5.37% quarter net of fees). Grumbles recommended retaining Garcia Hamilton for fixed income exposure despite mixed relative performance and said no changes to asset allocation were proposed at the meeting.
