2020-02-27-RB-min - Laserfiche WebLink

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Julie Snaman and Charles Johnson presented the Acadian review. Acadian International is a $99B All-Cap Fund of assets under management. Lexington Retirement has a market value of $18M within Acadian. They currently have a staff of 390 employees worldwide. Just over 100 of these employees work directly in the Investment Team sector. They focus on analytics, equity research, portfolio management, and implementation. Their investment research always accounts for changing market dynamics. The outlook for 2020 was considered unknown at this meeting. The trade war, coronavirus, and Apple's manufacturing issues were the main points for concern. Little growth is expected in China due to quarantines at factories. The consumption tax in Japan will slow down growth in that region. Acadians overall portfolio remains in line with the index through these turbulent times. They plan to remain vigilant in the coming weeks and months with all these events going on worldwide. Fossil Fuels exposure remains at 4.1%, which is lower than the 4.4%reported the past few months of 2019. Future Board meeting dates: 3/26/2020, 4/30/2020, 5/28/2020 and 6/25/2020. Bob Cunha motioned to adjourn the meeting at 9:45 am, which was seconded by Joe Foley, and approved by Carolyn Kosnoff and Fred Weiss. The next Retirement Board meeting will be held on Thursday, March 26, 2020 in Cary Memorial Library at 8:00 am. ABSENT Robert Cunha, Chairman Alan Fields, Appointed Member Carolyn Kosnoff, Ex Officio Member Joseph Foley, Elected Member Frederick Weiss, Appointed Member