Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Investments topic
No spam. Unsubscribe anytime.
Tunbridge trustees approve minor investment reallocation, add short-term CDs
Summary
Following an EdwardJones update, trustees kept consolidated target allocations but moved 10% of bonds in Balanced Growth & Income accounts into 1-year certificates of deposit, and confirmed the Public Cemetery Fund's more conservative 65/35 bond/equity mix to maintain a $100,000 minimum.
David Gold, an EdwardJones representative, told the trustees the board's accounts (with the exception of the Public Cemetery Fund) have been consolidated into fewer mutual funds and are set to a 'Balanced toward Growth & Income' allocation of 50% bonds and 50% equities. He reported that the Public Cemetery Fund is set to 'Balanced toward Income' with a 65% bond / 35% equity mix because the town must maintain a minimum of $100,000 in those funds.
Trustee Laura Ginsburg said both bonds and equities have been volatile this year and asked about lower‑volatility options. She moved to shift 10% of funds in each Balanced toward Growth & Income account from bonds into 1‑year fixed-term certificates of deposit, producing a 10%-CD / 40%-bond / 50%-equity distribution; the motion was seconded and approved unanimously. EdwardJones will send forms to add Trustee Laura Ginsburg to accounts as requested.
