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hospitals once the Covid-19 virus slows down. Mike and Ed assured the Board they are in a very good <br /> position heading into 2nd Qtr. 2020. <br /> Henry Jaung and Steve MacLellan from Meketa presented the update. Henry began speaking about the <br /> TALF 2.0 investment strategy. He informed the Board that the exposure has dried up. Wellington and <br /> Payden have already closed due to funding capacity. Meketa will continue a search of managers that <br /> might seem suitable for this investment. BlackRock Global Renewable Fund III remains undecided as of <br /> the meeting. <br /> The portfolio balance as of April 20, 2020 was$168,555,831.00. Despite being down 8.5%for YTD, the <br /> month of April was up 6.7%. The month added $11m to the portfolio. It was mentioned the May 2020 <br /> numbers were posting positive. The returns coming in are much higher than the March books posted. <br /> The success can be attributed to the performances of Contrafund and KAR. Domestic equities <br /> performed well in April. Henry moved on to the RFP that was issued in the 4t" Qtr. 2020 regarding US <br /> equity index search. Five responses from investment managers were received by Meketa. Three were <br /> ranked highly advantageous; LGIMA, RhumbLine and SSGA.The other two were advantageous; Mellon <br /> and Piedmont. After a review, Bob Cunha made a motion to select RhumbLine,which was seconded by <br /> Alan Fields, and unanimously approved by Fred Weiss, Carolyn Kosnoff, and Joe Foley. RhumbLine is <br /> already in the Lexington portfolio with Meketa. They offer very low fees. <br /> Bob Cunha made a motion to dissolve the FMI Large Cap Fund and transfer those funds to RhumbLine. <br /> The motion was seconded by Fred Weiss, and unanimously approved by Carolyn Kosnoff,Joe Foley, and <br /> Alan Fields. <br /> Bob mentioned the actuarial study and the 2024 might have to be extended out or seek funding from <br /> the Town. <br /> Fossil Fuel exposure remains at 2.8% <br /> Bob motioned to adjourn the meeting at 10:40 am,which was seconded by Joe Foley, and approved by <br /> Alan Fields and Fred Weiss <br /> The next Retirement Board meeting will be held on Thursday,June 25, 2020 at 8:30 am. The meeting <br /> will be held via Zoom tele-conference. <br /> Sean Duff from Monroe Capital is expected to present. <br /> Robert Cunha, Chairman Alan Fields, Appointed Member <br /> Carolyn Kosnoff, Ex Officio Member Joseph Foley, Elected Member <br /> Frederick Weiss, Appointed Member <br />