2017-10-26-RB-min - Laserfiche WebLink

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several realized transactions within 20 companies through industry, citing healthcare, media, and business services along with funding percentages. He wrapped up going over Loan Maturity payoffs at the end of amortization periods and internal credit ratings. Steve McLellan presented the Meketa update. The portfolio continues to perform well. It increased from $161.1m on 08/31/2017 to $162.2m as of 09/30/2017. YTD earnings are up 14.7%and holding strong. The 1 year earnings period is at 15.1%. The Fidelity Contrafund continues to perform extremely well, posting 23.9%YTD and 23.2%the 12 months. Consumer companies have been the driver for great gains as of late. Matthews Tiger Fund and Acadian continue to do well in the International Equity Asset Class. Matthews YTD is 26.0%,while Acadian is 28.4%. Steve concluded that generally all asset classes are up. We are seeing bigger returns in the Info Technology fields and the Internet companies, such as Google and Netflix. Regulatory relief and political talk appear to be the driving force for this upswing. There was a brief discussion of PERAC memo in regards to posting the fifth member position. It was decided to post to the Town and PERAC websites in December. The need to bring a laptop or tablet to the meetings for the Board to use to sign documents through PROSPER was discussed. The IT department should be able to provide one for our use. The Board was informed of the upcoming Town sponsored open meeting and public records law sessions. A motion was made, seconded, and unanimously approved to adjourn the meeting at 10:05 AM. The next Board Meeting will be held on Tuesday November 28th at 8:00 in Cary Memorial Library. PRIT will be present for their annual review. Robert Cunha, Chairman Alan Fields, Appointed Member Carolyn Kosnoff, Ex Officio Member Joseph Foley, Elected Member Frederick Weiss, Appointed Member