2013-06-27-RB-min - Laserfiche WebLink

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Henry and LouAnn from Meketa were present for an update. First on the agenda is to discuss the funding source for the Opportunistic Fixed Income and PRIT Hedge Funds. There was a motion by Alan, seconded By Joe and voted unanimously to use the PIMCO All Asset Fund as the funding source. There was another motion by Alan, seconded by Joe and approved unanimously to invest 5% of the fund to PRIT Hedge Fund, 5% to Munroe Fund as called and 5% split between Wellington Opportunistic Fund and PIMCO Global Fund with a small balance left in the PIMCO All Asset to keep it open. They also presented the interim report as of May 31, 2013. The market value as of May 31, 2013 is $123.7mm down from $124.5mm in April 30, 2013. Although May is down 0.3% year to date, returns are up 6.6 %. There is a request by Lisa Ortolani for a Survivor Death Benefit. Her husband was a custodian at the time of his death. The Board unanimously approved the request. Mike Sacco has reviewed the OPEB Legislation and sent an email confirming that the way it's being handled is correct. It was reported that there was call 4 8 from Beacon Capital for $280,000. Mike Trotsky from PRIT will be invited to the August or September meeting. A motion was made, seconded and approved unanimously to adjourn the meeting at 10:00. The next meeting will be held July 24, 2013, 8:00 AM at Cary Memorial Library in the large meeting room. Robert W. Cunha, Chairman Robert Addelson, Ex Officio Member Alan Fields, Appointed Member Absent Michael McNabb, Appointed Member Joseph Foley, Elected Member