HomeMy WebLinkAbout2011-10-12-TPT-minTOWN OF LEXINGTON
TRUSTEES OF PUBLIC TRUSTS
Minutes of Meeting of October 12, 2011
The meeting was held at 12 :00 PM at the offices of Atlantic Trust at 100 Federal Street,
Boston, MA
Present: Trustees Alan Fields and David Williams, and former Trustee Thomas Taylor.
The minutes of the June 2, 2011 meeting were approved.
The changes made to the portfolio descibed in c -mails from Alan to Jack Serhant on
September 27 and 28 were approved.
The Trustees reviewed the performance of the funds for the quarter eliding September 30,
2011. It was a difficult quarter for pursuing a global strategy as we do. Global financial
turmoil plus an unfavorable currency exchange rate caused our portfolio to earn slightly
less than our benchlnarks. The year to date return was - 2.72% compared to our
benchmark return of - 2.16 %. The overall portfolio yield was 4 %, a level significantly
higher than offered by both equity and high grade bond benchmarks.
There was discussion of forming an advisory committee to assist the Trustees in choosing
and implementing an investment strategy, and some possible candidates were mentioned
This effort will be pursued.
The Trustees presented Tom Taylor with a plaque commerating his 23 years of service.
David Williams, Secy.
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