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funds. The funding for the global infrastructure would be from the domestic portfolio <br />with an anticipated investment of $3 - $4 mm. <br />The high quality domestic equity hiring of 2 or 3 new managers will result in greater <br />manager diversity. Approximately $7 mm will come from international equity assets, <br />decreasing that exposure. <br />There was a discussion of the PERAC memo #38 regarding mandatory training for board <br />members which requires each member to undertake IS hours of training over the course <br />of their term. Mike asked that Maggie check with PERAC to see if on -going training for <br />Securities licensing meet the requirements. He also asked that the Board be notified on <br />upcoming training dates. Also discussed were PERAC memos #35 & 436 regarding <br />pension reform governance as well as Mike Sacco's e -mails regarding the RFP process <br />requirements. <br />The Board unanimously voted to re- appoint Alan Fields for a fifth term running from <br />1121112 — 1120115. <br />Joe Foley was re- elected for his third term running from 12/30/11 — 12129114. <br />Contract amendments for Atty. Michael Sacco and for Pension Technology Group were <br />signed. The term for the amendments are 12/31/2011 — 1213112016. <br />A motion was made, seconded and approved unanimously to adjourn the meeting at <br />10:45 AM. <br />The next meeting will be held January 26, 2012, 5:00 AM at Cary Memorial Library in <br />the Learning Center. <br />Robert W. Cunha, Chairman <br />Michael McNabb, Appointed Member <br />Robert Addelson, Ex Officio Member Joseph Foley, Elected Member <br />Alan Fields, Appointed Member <br />