HomeMy WebLinkAboutFIRE PENSION - 02/04/2008 - SPECIAL MEETING/EQUITY DIVERSIFICATION STRAT Notes of Board meeting
ELK GROVE FIREFIGHTER'S PENSION FUND
February 4, 2008 Special meeting on Equity Diversification Strategies
A meeting to discus diversification strategies of the Firefighter's pension fund was held
on February 4; 2008 in the Fire Department Administration Office 901 Brantwood
Avenue. This meeting was held after the regular scheduled meeting had ended. The
meeting started at 8:05 p.m. The following members were present: Brian McVeigh, Mark
Percudani, Bernard Goss, Dave Miller and Hilda Ingebrigtsen. Also in attendance was
Mary Tomanack financial consultant to the pension board.
Mary Tomanek submitted reports and discussed in length the advantages and
disadvantages of"Non or Low Correlated TRADITIONAL mutual funds" and
Alternative Strategy Mutual funds to the Elk Grove Village Fire Pension board.
Mary reviewed Types of Alternative Mutual Funds; Descriptions of Alternative Funds;
Fees associated with this type of Fund, along with additional considerations involved
with this type of Fund.
Mary reviewed the history of some Funds that she would feel comfortable with making
recommendations to the board to move monies into.
Dave Miller made the motion to move 10 % of the Equities monies totaling
$2,000,000.00 into this type of Fund; Splitting 1/3 of the amount into each of the
following funds Gateway, Ivy and Calamos. $1.4 million would come from the
Thornburg Value fund and S.6 million would come from the monies moving out of
Alliance. The Motion was seconded by Bernard Goss. The motion passed unanimously.
The meeting was adjourned at 8:45 P.M.
Respectfully submitted by:
Mark W. Percudani, Sr.
Secretary Firefighter's Pension Fund