2020-08-27-RB-min - Laserfiche WebLink

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David Dali and Chase Mazzariello presented the Matthews Asia Fund at 9:45am. Matthews Asia currently has$22.Ob in Assets under management. There clients include global institutional investors, private bank professionals, and high net-worth investors. The philosophy and approach used primarily revolves around long-term economic growth and development of countries in Asia. Currently,Asia is dominating much of the EM exposure. David stated China is the most important country of all in the EM exposure. He mentioned China has almost fully recovered from the Covid-19 pandemic. Industrials are back up and running, as well as airports. Airports are open and handling high volumes of travelers, mostly domestic travel. David spoke of higher valuations and the downgrading of earnings in Asia. He mentioned that Northern Asia is becoming the dominant hotspot in the EM sector. David wrapped up his review at 10:10 am. Bob Cunha motioned to adjourn the meeting at 10:15 am,which was seconded by Joe Foley, and unanimously approved Carolyn Kosnoff,Alan Fields, and Fred Weiss. The next Retirement Board meeting will be held on Thursday, September 24, 2020 at 8:30 am. The meeting will be held remotely via Zoom teleconferencing. Tom Seftenberg from Driehaus Emerging Markets will present the update at 9:00 am. Maritza Gonzalez from K.A.R (Kayne,Anderson, Rudnick)will present the update at 9:30 am.