2008-04-08 - Police Pension Board - Minutes Board or Commission: ❑ Police Pension Board
Document Type: ❑A e
g nda 0 Minutes
Meeting ate: 04/08/2008
Type of Meeting: ❑ Regular Meeting
BUFFALO GROVE POLICE
PENSION FUND
Police Pension Board Minutes
Regular Meeting—April 8, 2008
I. Call to Order— 6:30PM
I. Attendance
Trustees Kristiansen, Eisenmenger, Voigt, Feld, Fox, Treasurer Anderson, David
Wall (Wall & Associates), Chris Potthoff(Reimer& Associates)
I. Minutes
January 8, 2008 regular meeting minutes
Motion to accept the minutes by Trustee Feld
Seconded by Trustee Voigt Vote: 5 ayes 0 nayes
November 14, 2007 special meeting minutes
Motion to accept the minutes by Trustee Voigt
Seconded by Trustee Fox Vote: 5 ayes 0 nayes
I. General Business
Wall & Associates reported on the performance of the overall fund:
lst Qtr: .50 increase
Fixed: 53%, Equity: 19%, Cash: 28%
Ending value on 03/31/08: $32,502,539.50
Stratford Investment Advisory Group
Market Value on March 31, 2008: Fixed $17,059,113 Equities $3,867,164
Past Performance:
Fixed Income: 4� Qtr. 4.6% YTD 4.6% Trailing 12 month
12.2%
Equities: 4 Qtr. -10.0%YTD -10.0% Trailing 12 month
-11.6%
Forecast —poor growth potential, slowing, inflation increasing
Recommendation
Purchase $500,000 Gov. Agency Coupons due 2014 @ 4.35 YTM
Purchase $500,000 Gov Agency Coupons due 2020 @ 5.00 YTM
Purchase various exchange traded funds
Reduce cash
Mesirow Financial
Market Value on March 31, 2008:
Cash $360,647.46 Fixed $250,035.00 Equities $2,343,024.56
Past performance (Equities): Is' Qtr. -10.84 YTD: -11.02%
Forecast—N/A
Recommendation—None
I. New Business
Trustee Kristiansen reported that he is working with UBS to liquidate the annuity
Motion to authorize Trustee's Kristiansen and Eisenmenger to be signers to
liquidate the annuity
Motion made by Trustee Feld
Seconded by Trustee Fox Vote: 5 ayes 0 nayes
Transfer $360,204.45 (Mesirow) + $443.01 (USB Annuity) and any accrued income to
the Illinois Funds Account for future investments
Motion to complete transfer of the above funds to the Illinois Funds Account
Motion made by Trustee Kristiansen
Seconded by Trustee Feld Vote: 5 ayes 0 nayes
Authorize Stratford Investment Advisory Group to invest $200,000 in S&P 500 ETF per
week for 12 weeks with discretionary authority to invest an additional $2,000,000 not
to exceed $5,000,000.
Motion to authorize the Authorize Stratford Investment Advisory Group to invest
$200,000 in S&P 500 ETF per week for 12 weeks with discretionary authority
to invest an additional $2,000,000 not to exceed $5,000,000.
Motion made by Trustee Kristiansen
Seconded by Trustee Fox Vote: 5 ayes 0 nayes
Wall & Associates will facilitate transfer of$360,204.45 from Mesirow to Stratford
Special meeting will be held sometime in May 2008 to discuss future investment strategy
I. Old Business
None
I. Adjournment — 9:30PM