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Asset Management Committee: February 27, 2014

Asset Management Committee

Chairman Kevin Lockett presided at the regularly scheduled meeting on February 27, 2014. The following are reports received and actions taken:

  • Oversight and compliance reports, including performance and watch-listed manager reports. The Endowment Pool return for the current quarter (ended December 31, 2013) was reported to be 3.31% and 9.18% fiscal year-to-date. For the 10 year period, the pool has an annualized return of 7.27%. The Expendable Funds Pool return was 2.22% for the quarter and 4.55% fiscal year-to-date.
  • A report on current over and under weights in the Endowment Pool portfolio asset allocation was presented by staff. The pool is currently underweight U.S. government bonds and overweight private capital. Other allocations have been rebalanced per policy to their target weight.
  • Staff reported on the Asset Management Committee’s role in an organization-wide Enterprise Risk Management (ERM) initiative.
  • A retreat followed the regular meeting. Topics covered during the retreat included a review of investment strategy and a comparative objective review.