2021-08-26-RB-min - Laserfiche WebLink

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Communications sector. It was noted that Bentley Systems, an infrastructure software firm, located in Pennsylvania, has been one of the top contributors in the 2nd Qtr. 2021. They are an industry leading software firm working with engineers and architects in the construction field helping to deliver software solutions. It is to help accelerate and improve asset performance for the infrastructure that sustains our economy and environment. Jon Christensen wrapped up his presentation of KAR's second quarter performance at 9:30 am. Henry Jaung and Stephen MacLellan presented the Meketa review at 9:35 am. The portfolio balance as of July 31, 2021 is$224,109,357.00, up $275,501.00 from the prior month. Despite a slow July for growth earnings,the portfolio is up 10.4%YTD, and up 23.7%over the last twelve months. It appears the market is continuing its slow recovery due to the new Delta Variant sweeping the nation. Global equities are underperforming as of late. Domestic equities remained up this past month. Most were posting 1-2%over that span. KAR and Contrafund's net performances were 2-3% respectively. Our portfolio positioning in the market is fine. Meketa does not see the need to start making any moves, however will leave that door open for discussion at future Board meetings this fall. Robert Cunha motioned to adjourn the meeting at 9:50 am,which was seconded by Alan Fields, and unanimously approved by Joseph Foley and Fred Weiss. The next Retirement Board meeting will be held via Zoom on Thursday, September 30, 2021 at 8:30 am. Colin Edgar from Stone Consulting is expected to present at 9:00 am. Robert Cunha, Chairman Alan Fields, Appointed Member Carolyn Kosnoff, Ex Officio Member Joseph Foley, Elected Member Frederick Weiss, Appointed Member