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HomeMy WebLinkAboutDocumentation_Regular_Tab 01 _02/14/2013 New Backup 2/13/13 Asset Allocation Total Fund As of December 31.2012 Asset Allocation By Manager as of Asset Allocation By Manager as of September 30,2012:58,093,243 December 31,2012:$8,301,552 Allocation Allocation Market Value Allocation Market Value Allocation ■ Rockwood Fixed Income 3,276,414 40.5 ■ Rockwood Fixed Income 3,329,944 40.1 ■ Manning and Napier 1,981,354 24.5 ■ Manning and Napier 2,029,078 24.4 ■ Rockwood Equity 1,949,540 24.1 ■ Rockwood Equity 2,007,916 24.2 Europacific Growth(RERGX) 824,498 10.2 Europacific Growth(RERGX) 883,587 10.6 ■ Receipt&Disbursement 54,562 0.7 ■ Receipt&Disbursement 50,734 0.6 ■ Checking Account 6,874 0.1 ■ Checking Account 293 0.0 � THE �( BOGDAHN 12 `�``' GROUP. Comparative PerFormance Total Fund(Gross) As of December 31,2012 Comparative Performance QTR FYTD 1 YR 3 YR 5 YR 7 YR Inception �nception Date Total Fund(Gross) 1.17 (53) 1.17 (53) 10.16 (90) 9.06 (24) 3.37 (43) 5.17 (41) 5.73 (49) 05/01/2005 Total Fund Policy 0 1� (73) �� �'�t �73) � (78j � ,� , � ,. , i-1E>> �, �'+ (61) ; 1; Difference 0-39 0 39 1 10 0.5t� 0 10 0-38 0.56 All Public Plan�-Total Fund Median 1 19 1 19 12 35 8.41 3 17 5 00 5 70 Total Fund(Net) 0.96 0.96 9.48 8.59 2.93 4.68 5.25 05/01/2005 l�,ir�l F�;�:�1 F=, � � t1 78 11 Zl' 8 48 3?? F.17 . _�, . . . ' � �.. 1 .. .� � I . .. . � . Total Equity 1.93 1.93 15.73 12.01 1.29 4.50 4.68 04/01/2005 � ��.,�, !': Ir . I :' I :'., li < i t.l) 1 ', , _ , _.. . , !l i., ., � , , . 1 „ �. .,_ . .. Total Domestic Equity 1.15 (21) 1.15 (21) 14.87 (65) 12.54 (14) 1.55 (66) 4.72 (48) 4.88 (69) 04/01/2005 ,y n���; � � � �, � � , �� �,c�il � � � � If�l �.. � �.. .ii��, ,__,� ,�E��:�i.'ite .`�A-CF� ^�1..=Jcn� :.i���: , . . �. �� � I�' , . _ . _ . .... � , Total International Equity 5.66 (65) 5.66 (65) 19.78 (38) N/A N/A N/A 5.57 (36) 05/01/2010 :, � , , � ! � , �� � ; , _ � � � � � � � , , .. � �• �, , Total Fixed Income 0.14 (91) 0.14 (91) 3.19 (93) 5.20 (80) 5.02 (93) 5.33 (93) 5.00 (94) 04/01/2005 ���. � �, , , , ,�. �r; � � � � � Difference -0.04 -0-04 -0.37 0.06 -0.13 0.02 -0.12 IM U.S. Intermediate Duration(SA+CF)Median 0.41 0.41 4.99 5.76 6.00 5.93 5.73 Retums for periods greater than one year are annualized. .I..HE Relurns are expressed as percentages. Returns prior to June 2010 do not include cash. 19 BOGDAHN �:�,:;:;,, GROUP, Comparative Performance Total Fund (Gross) As of December 31,2012 QTR FYTD 1 YR 3 YR 5 YR 7 YR Inception Inception Date Rockwood Equity 1.42 (15) 1.42 (15) 15.01 (63) 12.91 (11) 1.78 (63) 4.86 (42) 5.01 (65) 04/01/2005 � �ie:Equify Polic�; 11) � !7) � ��l I� iQ9/ (43) 1 71 �I,-�. � (I11 d 68 li'g) � 1 9d 0 01 �� � 0 33 . . �. � , �� r . . . . . . . . li�, , , ,�! , � , .�,,1 Manning and Napier 0.88 (25) 0.88 (25) 14.71 (67) N/A N/A N/A 3.33 (94) 02/01/2011 � , _. � � � � i _ „ � i . Europacific Growth(RERGX) 5.65 (65) 5.65 (65) 19.64 (39) N/A N/A N/A 9.78 (45) 06/01/2010 � ,, � ii � _, � ���li � -�� i I ; �� � � � _ . . � PJ. �, , . ., i 1��.: . I� .�.i�t. . . � . . ' .,_:-f liti ,�� a _ . �. . . ,'I .1_ Rockwood Fixed Income 0.14 (91) 0.14 (91) 3.19 (93) 5.20 (80) 5.02 (93) 5.33 (93) 5.00 (94) 04/01/2005 �. t ! � �' .,. , i�, � 1� ,r „, �� �� 5 31 (93j 5_1� ,'�_�"� Difference -0.04 -0.04 -0.37 0.06 0.02 -0.12 IM U.S. Intermediate Duration(SA+CF)Median 0.41 0.41 4.99 5J6 �;uu 5.93 5.73 ReWms for periods greater Ihan one year are annualized. THE Retums are expressed as percentages. Retums prior to June 2010 do not include cash. �( BOGDAHN �o `._� ;:� GROUP. Previously Distributed Backup McWiiliams, Lori From: Pat Holt [pat@perryjensenlaw.com] Sent: Tuesday, February 05, 2013 8:51 AM To: McWilliams, Lori Cc: ThePensionTeam@perryjensenlaw.com; Ed Sabin; Giblin, Raymond Subject: Tequesta Public Safety Officers' Pension Trust Fund (Summary of Action 12131/12) Attachments: Bogdahn Report Pages 12, 19 & 20.pdf; Teq FF Summary of Actions as ofF 12-31-12-1.pdf Lori: Attached please find the Summary of Actions for Quarter Ending 12/31/12. Also attached you will find pages 12, 19, and 20 of Bogdahn's Investment Report. This will be presented at the February 14th meeting. If you have any questions, please let me know. Thanks, ��� ���� Legal Assistant - Pension Team of Bonni Jens�n fHE LAW OFFICES OF PERRY & JENSEN, LLC 400 Executive Center Drive, Suite 207 West Palm Beach, FL 33401-2922 561-686-6550 (Phone) 561-686-2802 (Fax) The Law Offices of Perry & Jensen, LLC is proud to be an ABA-EPA Law �ffice Climate Challenge Partner. Think before you print!! CONFIDENTIALITY NOTICE: This communication is confidential, may be privileged and is meant only for the intended recipient. If you are not the intended recipient, please notify the sender,4SAP and delete this message from your system. IRS CIRCULAR 230 NOTICE: To the extent that this message (or any portion thereof) concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoid'+ng penalties that may be imposed by law. 1 TEQUESTA PUBLIC SAFETY OFFICERS' PENSION TRUST FUPID Summary of Actions for Quarter ending 12/31/12 1. The regular Board meeting was he{d on November 5, 2012. Additionally, the Board held a special meeting on December 5, 2fl12. 2. Bogdahn (by Tyler Grumbles) reviewed the 9/30/12 quarterly and fiscai year re#urns. At the end of the �iscal year, the Plan's market value was $8,093,243 and the asset allocation was Domestic Equity 44.0%, International Equity 10.2%, Fixed Income 38.2%, and Cash Equivalent 7.6%. The returns for the quarter and fiscal ye�r end were: Quarter Returns: Total Fund (Gross) 3.77% versus the benchmark at 4.39%. Total Equity 5.86% versus the benchmark at 6.44%, Total Domestic Equity 5.55% versus the benchmark at 6.23% _ Total Intemational Equity 7.38% versus the benchmark at 7.4�°�, Total Fixed Income was 1.04°!o versus the benchmark at 1.3fi% Fiscal Year Returns: Total Fund (Gross) 15.26% versus the benchmark at 17.88%. Total Equity 25.0� �/o versus ihe benchmark at 27.21 % Tota( Domestic Equity 26.39% versus the benchmark at 30.20% Totai International Equity18.57% versus benchmark at 15.04%, . Total Fixed Income was 4.14% versus the benchmark at 4.31 °lo. � See attached for 'i21�1/12 retums. � � � � 3. At ifi.e November meeting, Bogdahn reviewed Rockwood's� 1; 3, and 5 year � � . . performance. The Board expressed their concems regard�ng Rockwood's returns. Mr. Johnson agreed to bring a blend search for the Boar�d's review to a � December 5, 2012 special meeting. � . 4. Mr. Johnson recommended�that attomey Bonni Jensen_ work on new fee � agreement with Rockwood which reduced the fees�to .40 basis points on the first $5 million; 30� basis points on the next $10 million; and .35 basis points on the � next $35 million. A revised addendum for the new fees efFective C3ctober 1,.209Z was signed at the December meeting. 5. The Board approved a revised investment policy statement contingent upon the passage af the addendum to the pension plan. 6. The proposed amendment to the Plan was presented to t�e Trustees. 7. Steve Palmquist has retired from Gabriel, Roeder, Smith and Company, the Board's Actuary. Jeff Amrose wiil be working as the Actuary with the Board. Page 1 of 2 7'�QUESTA PUBLIC SAFETY OFFICERS' PENSION TRUST FUND Summary of Actions for Quarter ending 92137/12 8. At the December 5, 2012, meeting the Board determined to replace Rockwood and Manning and Napier with GAMCO and Brown (in a mutuai fund product). Additionally, Rockwood was replaced as the fixed income manager by PIMCO Total Return. 9. Future meetings will be held on February 4, 2013, May 6, 2013, August 5, 2013 and November 4, 2013. PLEASE ADDRESS ANY QUESTIONS IN WRITING AND THE BOARD WILL RESPOND IN KIND. � H:\Tequesta PS 10111Meeting\Meeting Packe�s�2012\Teq FF Summary of Actions as of 12-31-12-1.wpd Page 2 of 2 Asset Allocation Total Fund As of Oso�her 31. 2012 - � - - � -� �—'- A9eetABOCartion�BY9agnentacof - - - -:ASSeSNIoe�io�tsX�eg�a�m .; . . . _ -: $ep[an6� 30.20/2: f8.�97.7A3 . , _ . _ . '." Oecanhoc31,Z01Y: �8,307,66Y . - - . -. ,l � �� T���{� `� i � � � ... .. _....., .--- .__ � _ .._ . ., .,.,. . _ .._ . ,._. .,.,. .,.,_._ ._.. ANocatiort "<': .. � . , :r c :--� �AHocatlon -�� - - � � - � � � � � -., _ . . . .. -: . '. . - Segm9MS Ma�lcet Value . .. . � ANopdon Sagme�pc Markat Value Albcatlon ■ DortiesFic EquHy 9.561204 44.0 ■ �o�c 69u1Y 3.BT7.879 48.7 � �rnernaauonal rxpary aza,e99 �o.a ■ unerna�wr�e� Eauilr e�+.se� �o_a ■ Fif�ed InCOme 3,W7.517 382 ■ Fl�etl In�ne 3.792.981 3&5 r'� Cash Equivalent 676.029 7.8 �"' Cash Equlvalen[ 347.308 42 THE � "� BOGDAHN r ��° GROUI'. Asset Allocatlon Total Fund As of Decem6er 87 2012 _.. _._ . .._ .._ --- .. . . _ , .. ., . ..-- ..-:AssetNbcadonBg.Man�erasof �.--: --: . ;:,�: �:.. �� <.��ASaetAllocelioA -�: �. � . `-:.'- . � _: .. � � .. -:.,. . Sep6omhat 9D. 2012: i8.�8:�7 `-` . ;'� . :.'..,. D�er.31; �f2:�i43d1.562 '-_ , -: � ' _:: -:: r , -�'� ° � ��. R���"�'s � �,� �"�����.. �; ` '��:�..�;�� ° x� ��" _ �� . r a�weauon .. . . . -: � - - - -: . - : <:. - - .: a��oceuon _ � . � .::. . � - �; : .. . .. . ._ ..-: . -: . � NeAoetVeWe .. . : AllocatWn .: . . . ... � . . MarkatYalue Albcatbn ■ ROdtwootl FiKed 1� 3.278.474 - 40_5 - ■ Ror.kumo0 Flxed Inwme 3,329.9i44 40.1 � Mamdng ar� Na� 1.�1.354 24.5 -. � Marvdig � Napier 2.029.078 24.4 ■ Rockwood Eqtiry 1.949.540 24.1 ■ RofJaruad Eq�ily 2.007.916 242 _ � EuropaCific Glowih (RERGX) 824,498 - 702 r; EtRppactlic (;mwlh (RERGX) 88:i.587 10_B ■ Recelpt R Disbursem�[ 59�5G1 0.7 ■ Receip[ 8 Dis6ursemant 50.734 D.6 � ■ Checking M.couM 6,874 0.1 ■ ChetlAng ACCwx�[ 293 0.0 {�; BOGDAHN l� Gxour � Comparative PerFamante Total Fund (Grr�s) As of Derember3l. 2072 . .. .� .. . _.. _ �... � ; � : . < < -, . _ -, __ ' -.- ,.-. ._.- _ „ _ . _.�. = ` -, CamparaWaf�Om�anee . ;. _ _ -. -;.-. _._ _ ' . ...-.` ;.. . . .. _ .. . .... _�,_. � .. , s. .. �.,. . . , . . . 4TR FYID 1 YR S YR .� 5 YR 7 YR Inceptfon � Ineepllon .-:: � Da�e �ToFalFuntl(Gross) --.. �--. ��' 1A7'-�.(77) - r . `10.16..I91)'-_". B.OB`::.`(33)- (4t) .r �-5.73 OSlOtC100.5��'.� Total FunA Pdiq .. 0.78 .. .(&3) 078 (83) 7728 (82) 8.48 (5� 3.27 (43) 479 (B� 6-17 (7� Difie1ence 0.� 0.39 -1.10 0.58 0.10 0.38 0.58 A11 Pudk Pta�7Wel FuW MC[9an 7.70 7.70 7301 8.gii 3.12 5.09 5.83 Total Rnd (Neq 0.96 0.86 9A8 B.gB 2.93 4.68 5?5 05N1�05 TWeI Fund Pdl�y 0.78 0.78 77.7B 8.d8 3.27 4.79 5.17 D'dferen� 0.18 D.18 -7.78 0.71 -0.34 -0.1'I 0.08 1� Equfty . . .... - .:.1.93 ' _. 7.83 -.--: ' --15.T3 _ _: 1201 _ ��1.29 ' -:�- 4,50 „ �4.68� " - �.� OM072(W5 ,. . TofalEquityPdiq � �20 1.20 � 76.38 70.13 �� 725 3B2 4.38 ..:�. �iHere�x� 0.73 0.73 -0.66 7.88 0.04 0.88 0.30 . Total.0omestic . � . _ . . ..... . Eqully: . �- : �1.16 ... _ . (21) 7.46 -�: ..�4�.87 (&� �."- 72.5.4 :: -.1:58, (66) � .-� b72 _': (� 4.88.:- (89) �-�-U4lO1f2006.. .:_,`. Totsl Domestie Equlty PWlcy 025 (4� Q2$ (42) 16.42 (49) 10.97 (4� 1.77 (64j 4.18 (7i) 4.68 (%6) DiReience 0.80 0.80 -1.56 1.57 -0.13 O.S6 0.20 IM U.S. L3rge Cap Cote EqWly (SA+C� MgNan 0.00 OAO 15.83 10.55 220 4.66 5.34 - ToNal.lnlematl�al .� .. _ . . - � -., _ , - Equfty `. _ .- �5.88 : �..(B� 5.86 -: ; (65� -�--19.78 C30) :_., WA . -- . , � WA_ � _ -- : WA � 357; (3� -:� 05N1ldD10 � ; � . M$CI AC WoAd ex USA 5.89 �(87) 5.89 (67) 17.39 (83) 4.33 (50) -2A4 (42) 4A0 (41} 4.58 (53) Dlffmrence -0.23 -023 2.� W/A N/A NfA 1.01 IM I�lld1El Equily (M� Medan 8.79 6.29 78.58 � 4.32 J.13 321 4.fi8 . �TotalFf�O-Imm�e ..---.� --,....� .� . -�(B7) 0.H� (91) � :`3:19 �199Y�. - 520 � � �5.02 �.- (9� . . 5.39 .' � (9{)� � OCI01f100$ .� .�..._ To�l Fuced trMane Pali�y 0.18 (87) 0.78 (87) 3.96 (8� 5.14 (8� 5.75 (9� 5.39 (9� 5.�2 (93) . D� -0.04 -0.04 -0.37 0.08 -0.13 0.02 -0.12 tM U.S. InMm�la� D�sa6on (SA+CF) Ng9an 0.41 A41 4.99 5.76 6.00 5.93 5.73 �ee� tr aNO� Qea�a aia� ae yea ae anmtre� ReYnsaem�aP�PS. r �k 371E /�+� WYnsPQbLwf7UtOtlomtY�WOemYt ' ! � � `�� V[��Vr• Compa�afiva P�formamx Tdal Fund (Gross) AS of Oecember 31. 2012 Q7R FYTU 7 YR 9 YR 5 YR 7 YR Ir�ptlon ���� Drie RaAcv+oOdEq�eN � -:_ .. . -� _ ...1.42 :.(1� t.42-:.. (7� ."� 15Dt (�:-.-:- 1291 �:;:- (71) :-.: 1.78 (83I :��"�- 4.86- `,-�-(423 5.01`�.; (8�..: .Q4l0712005 . -:'-.-. TO[01 �art�es6c EA��N PoR�Y 025 (4�J 02S (4� 76.42 (47) 10.97 .. . . . aRerence 7.17 1.17 -tA1 7.84 (� 0.07 �, 0.70 �'} 0.33 �) IA1 U.S. I 9mn Cap Cafe E[ryilY (SAaC� AAedien 6.00 QW 15.&9 1Q55 220 4.88 5.34 Ma�m9�N4P� . _. .. . . . 0.88 - R� 0.88 -�... (25} :.� - -14.71 (8� WA .�.-... .. .: XfN. . WA ... r� AS3.... (94)- ' 0'11U1/201�7.. - . Russe1�300UhMen 025 (42� QZ5 (4� t&42 (41)� 7110 (3� 204 (5� 4.34 (66j 7.81 .{58) ... -.. . ��rer� 0.63 0.63 -1.77 N!A WA WA -I28 IM U.S. La�ge Cap Cae Eqdly (SA.CF� Meden 0.00 0.00 75.83 10.55 22� 4.66 7.88 � . Europadfic 6rowlh (RERG7Q . .. -. .. 5.85 ,-. (6� : 5.65 �. _. (�� � 19.84 (�) .-- WA -: - � �- N/A: . .. WA . � 978 -�: (451: � � � t18101l21170�. -'.� , . .... ... .._ _ MSCI AC WOAtl ex USA 5.89 (81) 5.89 (67) 17.� (63) 4.33 (5� -2.M (4� 4.00 (41) 926 (S� ����� -0.24 -024 225 WA WA� WA 0.52 IM Intertrelianal E9uity (MF) Met6an 8.29 6.79 78.59 4.32 J.13 321 8.42 . . . _ . .. ..._ . Rockwootl Flred U�ome - - - - OA4 � - 0.14. � (97? :.9.A9 (8C� --� 5.Z0 - � � (80) .:. 5.02. (83) � � �. 5.95.:. � (9Ci) . 5.00-�.r (�) �-.. - OIAi12fy15 � .. . .. Totdl Flxed InCOrtiC Policq 0.18 (B7) Q18 (8n 3.56 (88) 5.'14 (8� 5.15 (S� 5.37 .. .. (9tj) 5.'12 (93) Differe�ce -0.D4 -0A4 -0.37 0.06 -0.73 0.02 -0.12 IM U.S. Intemietlfa0e Ou�ation (SA+CF7 MeUian 0.41 0.47 4.99 5.76 8.00 5.B3 5.73 ie�w��ss�e���maa�a �aeysrensoe�M1 e l7ifi erunc Pbr m.wre mio m rct�trwda �t � .� BOGDAHN l-� GROtrn