HomeMy WebLinkAbout1999-12-16 Minutes•
MINUTES OF A MEETING
OF THE
FAYETTEVILLE POLICE PENSION BOARD
DECEMBER 16,1999
A meeting of Fayetteville Police Pension and Relief Board was held on December 16, 1999 at
1:30 p.m. in Room 326 of the City Administration Building located at 113 West Mountain
Street, Fayetteville, Arkansas.
Present: Randy Bradley, Hollis Spencer, Eldon Roberts, Jerry Friend and Heather Woodruff.
Absent: Mayor Hanna.
MINUTES
Mr. Spencer moved to approve the minutes. Mr. Bradley seconded the motion. Upon roll call
the motion carried unanimously.
The Pension List was presented. No action was required.
INVESTMENT REPORT
Ms. Longer presented the investment report as of September 30, 1999. The total value of the
account is $10,928,588. Assest allocation: Equities 40.2%; Fixed Income 55.8%; Cash 4.0%.
Largest holdings are Tyson Foods, Emerson Electric, Pfizer, Northern Trust, Schering-Plough.
1999 realized gains through December 15, 1999 is $93,819. 1999 Net income through December
15, 1999 is $318,179. Market Capitalization of equity holdings is 74.7% Large Capitalization
and 25.3% Small and mid capitalization. Annualized income yield: Fixed income portfolio
$372,315 (6.2%). Total Portfolio $445,228 (4.4%) Weighted average maturity of fixed income
securities: 3.9 years. Total performance since account inception has averaged 9.4% on annual
basis. Since inception the total investment return has been $3,372,667. Elaine also reviewed a
current (12/15/99) account holdings report and reviewed the current industry weightings in
comparison to the weightings of the S&P 500.
Meeting adjourned at 2:30 p.m.