HomeMy WebLinkAbout2003-01-29-TPT-minTOWN OF LEXINGTON
TRUSTEES OF PUBLIC TRUSTS
Minutes of Meeting
January 29, 2003
A meeting of the Trustees was held at 12 noon at the office of State Street Global
Advisors at 225 Franklin Street, Boston. Present were Alan Fields, David Williams,
Thomas Taylor, Karen Jackman, David Ely and other personnel from SSGA..
After a review of portfolio performance and investment strategies, the following actions
were taken:
In the Westview Cemetery Fund, we will sell all bonds yielding less than 2% to
maturity and having maturities prior to 04. The captured premium will be invested in
equities other than the financial sector and the face amount will be invested in bonds with
longer maturities.
In the Endowment Fund, we will increase the equity position to 30 %. The current
cash position ( which is 37% of the portfolio) will be invested 10% in equities, 10% in A
rated preferred stock, 10% in 2 year bonds and 7% in cash.
The next meeting will be Tuesday, April 29, 2003 at 64 Marrett Road, Lexington,
Tom Taylor, Secy.