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SteveMcLellanandHenryJaungpresentedtheMeketaupdate.Theportfolioincreasedfrom$149.6m <br />on2/28/17to$152.1mon3/31/17.TheHartfordbalanceisnowat$6m.Therewasadiscussionabout <br />theholdingsat36%domesticequityand21%internationalequity.Alanraisedthepointofmoving <br />moresmall/midcapintoInternationalequity.Henryadvisedthatweshouldholdofffornowsighting <br />st <br />creditriskandlowgradecorporations.Theenduringassetshavegoneup7.3%forthe1quarter. <br />TheLoomis/SaylesreviewwaspresentedbyJosephBeauparlant.Hegaveabriefoverviewoftheuseof <br />anopportunistictypecreditcyclestrategyapproach.Theapproachhasbeeninuseforroughlyeight(8) <br />yearsandLoomisplanscontinuetousethisapproachforatleast23yearsmore.Theportfolioisdoing <br />wellinparttoPresidentƩǒƒƦ͸ƭtaxcutsandderegulation.TheUShighyieldassetsandbondsareup <br />2.45%fortheyear.TheyseemajorgainsonthehorizonbecauseźƷ͸ƭveryattractivenow͵Oncea <br />downturnbegins,LoomisSayleswillmovetomoresecuritizedcredit.ThereviewwrapsupwithAlan <br />questioningwhereLoomisSayles10yearforecastshouldhavethemsituated.FromaBasisPointsview, <br />JosephinformstheBoardthegoalis275orhigher. <br />DougKryscioandKyleConcannonfromWilliamBlairpresentedtheMacroAllocationStrategyupdate. <br />Theypresentedanoverviewofthefirm,assetsundermanagementandthemembersoftheallocation <br />strategyteam.TheyexplainedtheirInvestmentProcessOverviewasitrelatestoexpectedreturns,risk <br />budget,andriskexposuresintheMacroAllocationenvironments. <br />TheWilliamBlairperformancesummarywaspresented.LexingtonRetirement.ƚğƩķ͸ƭassetsasof <br />3/31/17were$4,843,466andtheperformancesince7/31/15inceptiondateis2.08%.Assetsareup <br />$183,559.00fromlastreview7/28/16. <br />SteveMacLellanandHenryJaungspokeabouttheWilliamBlairstrategyandperformance.Theyhave <br />concernsaboutthereturnsandcostsassociatedwithtransactions.ThedecisionsBlairmakestendsto <br />notpayoff.Itismoreofawinone,loseonestyle.Thistypeofactioniscreatingalowconfidencefeel <br />totheBoardmembers.BlairshouldbedoingbetterbasedonthefactthatAcadianandMatthewshave <br />similarexposuresinthemarketandareperformingfairlywell. <br />ThereisnochangeinFossilFuelstance.Holdingat4.5%. <br />nd <br />TheBoardMemberswereremindedofMemo#17regardingeducationaltrainingsin2qtr.2017. <br />HartfordwillbeinvitedtotheMaymeeting. <br />Amotionwasmade,secondedandunanimouslyapprovedtoadjournthemeetingat10:10. <br />th <br />at8:00AMinCaryMemorialLibrary. <br />ThenextBoardMeetingwillbeThursdayMay25 <br />