HomeMy WebLinkAbout2002-04-25 MinutesMINUTES OF A MEETING
OF THE
FAYETTEVILLE FIREMEN'S PENSION AND RELIEF FUND BOARD
APRIL 25, 2002
A meeting of the Fayetteville Firemen's Pension and Relief Fund Board was held on
April 25, 2002 at 11:00 a.m. in Room 326 of the City Administration Building located at
113 West Mountain Street, Fayetteville, Arkansas.
PRESENT: Marion Doss, Ronnie Wood, Danny Farrar, Robert Johnson, City Clerk
Heather Woodruff, Ted Webber, Kit Williams, and Richard Yada.
MINUTES
Mr. Wood moved to approve the minutes. Mr. Farrar seconded. The motion carried
unanimously.
PENSION LIST
Mr. Johnson moved to approve the pension list. Mr. Wood seconded. The motion
carried unanimously.
INVESTMENT REPORT
Mr. Yada stated Mercury was down 0.65%, Income Account was up just a fraction and
Ashland was down .7%. All their equity accounts were down less than 1%. Comparing
them to the Dow Jones it was up 4%. The S&P 500 was up .25%. The NASDQ was
down 5%. Treasuries and High Grade Corporate were down for the year. They did not
expect a whole lot out of the market. This year was going to be up and down. There was
a lot of uncertainties in the market. One of the things they were going to do was replace
Private Portfolio Group, MLAM and Mercury. Their asset allocation was working like it
should. The interest rate will probably stay flat for the rest of the year. They were
sending $45,000 to $55,000 per month back to the checking account. They should
receive an actuary later this year.
Mr. Webber presented a report with asset allocations and market basis. Asset allocations
on a cost basis, the actual costs of the investments. What Richard was reporting was the
market value.
Meeting adjourned at 11:20 p.m.