HomeMy WebLinkAbout2008-11-22-TPT-minTOWN OF LEXINGTON
TRUSTEES OF PUBLIC TRUSTS
Minutes of meeting of November 22, 2008
The meeting was held at 64 Marrett Road, Lexington, at 11:00 AM. Present were Alan
Fields, Thomas Taylor and David Williams.
We reviewed the performance of the funds. Alan reported that the total porfolio was
down 11% at the end of September, and he guessed it was down a total of 20% as of the
date of the meeing. There was discussion of what strategy we should follow in the
present economic situation, given that organizations which rely on us have immediate
needs but we also have to consider long-term growth in our funds. It was decided that we
will stick to our established equity /fixed - income ratio. Although the porfolio is currently
out of balance because of the fall in equities we decided not to rebalance until we see
what happens in the markets.
We confirmed the sale on Nov. 20 of the emerging markets index fund and half of the
Hartford Capital Appreciation Fund and the Dodge & Cox Intl Fund.
We approved the grant of $900 from the Eddison Fund for plowing the bikepath this
winter.
We approved the grant of $500 from the Geo. Gilmore fund to the Lexington Arts &
Crafts Society for the "State of Clay" exhibit.
It was voted to accept the Alan B. Wilson Memorial Fund, on the terms set forth in the
letter attached to these minutes.
Tom Taylor, Secy.