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Investment adviser reports plan overweight in U.S. stocks, real‑estate redemptions nearly recovered
Summary
Burgess Chambers & Associates told the General Employees Pension Board the plan is overweight U.S. equities (domestic equity ~50.7%) and is redeeming from a Vanguard growth position; the firm said $185,000 remains outstanding from American Realty and recommended cautious rebalancing to extended‑market exposure.
Frank Warren of Burgess Chambers & Associates presented the board’s quarterly investment update, reporting that the plan remains overweight U.S. equities and that “50.7% of our assets are invested in domestic equity or US equities.” He said the firm has been redeeming parts of a large‑cap growth position and may rebalance into the Vanguard extended market index to capture small‑ and mid‑cap performance.
Warren told trustees the Vanguard growth index represented about $874,000 of the plan and that the firm is taking profits to reduce concentration risk. He also discussed the plan’s real‑estate holdings, saying the board is still owed roughly $185,000 from American Realty and explained redemptions are paid pro rata as managers sell assets. Trustees asked follow‑up questions about timing and reinvestment; Warren said cash recovered would likely be reinvested into bonds or other allocations depending on market conditions.
