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Asset Management Committee: November 17, 2014

Chairman Kevin Lockett presided at the regularly scheduled meeting on November 17, 2014.  The following are reports received and actions taken:

Bret Oettmeier was welcomed as a new Asset Management Committee member. Mr. Oettmeier is a 2001 graduate of the College of Business Administration and is currently the Head of Corporate Development at DST Systems in Kansas City.

Meeting minutes for the September 17th, 2014 Asset Management Committee were approved.

Staff reported that the Endowment Pool’s market value was roughly $479 million as of September 30, 2014. Staff noted that performance for the quarter, also ending September 30th, was -1.22% and was better than the Endowment Pool Benchmark by 1.75%. Staff shared with the Asset Management Committee that roughly 90% of relative outperformance for the quarter was due to manager selection. This marked the fourth consecutive quarter of relative outperformance. 

Staff presented the Watch-List and Risk Analytic Reports and notified the Asset Management Committee of upcoming changes to both reports.

Staff discussed the Expendable Funds Pool and talked with the Asset Management Committee about the current level of cash, which is mostly due to current capital projects.

Staff notified the Asset Management Committee of its responses to the suggested action items from the recent Asset Allocation study.