Laserfiche WebLink
Breadcrumb Navigation:
TOWN OF LEXINGTON <br />TRUSTEES OF PUBLIC TRUSTS <br />Minutes of Meeting of October 12, 2011 <br />The meeting was held at 12 :00 PM at the offices of Atlantic Trust at 100 Federal Street, <br />Boston, MA <br />Present: Trustees Alan Fields and David Williams, and former Trustee Thomas Taylor. <br />The minutes of the June 2, 2011 meeting were approved. <br />The changes made to the portfolio descibed in c -mails from Alan to Jack Serhant on <br />September 27 and 28 were approved. <br />The Trustees reviewed the performance of the funds for the quarter eliding September 30, <br />2011. It was a difficult quarter for pursuing a global strategy as we do. Global financial <br />turmoil plus an unfavorable currency exchange rate caused our portfolio to earn slightly <br />less than our benchlnarks. The year to date return was - 2.72% compared to our <br />benchmark return of - 2.16 %. The overall portfolio yield was 4 %, a level significantly <br />higher than offered by both equity and high grade bond benchmarks. <br />There was discussion of forming an advisory committee to assist the Trustees in choosing <br />and implementing an investment strategy, and some possible candidates were mentioned <br />This effort will be pursued. <br />The Trustees presented Tom Taylor with a plaque commerating his 23 years of service. <br />David Williams, Secy. <br />C <br />