HomeMy WebLinkAboutDocumentation_Regular_Tab 03_11/14/2013 TEQUESTA GENERAL EMPLOYEES' PENSION TRUST FUND
Summary of Actions for Quarter ending 09/30/13
1. The regular Board meeting was held on October 21, 2013.
2. Bogdahn (by Tyler Grumbles) reviewed preliminary 09/30/13 performance
results. Plan's market value stood at $2,796,463. Highlights included:
1 Year 3 Year
. .� . . .� .
Total Fund 12.2% 10.8% 54 10.7% 9.8% 22
Equity (D) 22.0% 19.3% 32 17.9% 16.3% 23
Equity (I) 18.4% 17.0% 86 7.3% 6.4% 88
Fixed Income 1.8% -0.7% 28 3.3% 2.6% 29
Please� also see additional exhibits attached.
3. Actual (Policy) Plan asset allocations at year-end were:
Domestic Equity 49.6% (50.0%)
International Equity 9.5% (10.0%)
Fixed I ncome 38.4% (40.0%)
Cash Equivalent 2.5%. (0.0%)
4. The approved a new investment policy setting the asset allocation to 50%
Domestic Equities, 15% International Equity, and 30% Domestic Core Fixed
Income and 5% Diversified Fixed Income Index.
5. The Board determined to diversify the assets by investing 5% of total assets in
the Templeton Total Return mutual fund.
6. The Board set its budget for the next fiscal year. Please see attached schedule.
7. The Pension Fund received a favorable determination letter from the IRS
regarding the tax status of the pension plan. The Village Council will need to
adopt two amendments to the Plan in accordance with the determination letter.
This determination letter will expire in January of 2016, so the Board will need to
file again during the period between February 1, 2015 and January 31, 2016.
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8. Mr. Carl Hansen was reappointed to the Board.
9. Future meetings are scheduled for February 3, 2014 and May 5, 2014.
PLEASE ADDRESS ANY QUESTIONS IN WRITING AND THE BOARD WILL
RESPOND IN KIND.
H:\Tequesta GE 1012\MeetingWleeting Packet�2013\SUMMARY OF ACTIONS\Teq GE Summary of Actions as of 9-30-13.wpd
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Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year
Expenditures 2009 2010 2011 2012 2013
Legal Services $ 12,559 $ 11,175 $ 7,939 $ 5,120 $ 6,747
Recording Secretary Services $ 8,147 $ 7,698 $ - $ - $ -
Investment Services $ 5,607 $ 7,860 $ 7,560 $ 11,691 $ 10,327
Actuarial Services $ 11,870 $ 6,676 $ 6,645 $ 6,651 $ 6,545
Custodial Services $ 4,500 $ 5,084 $ 2,640 $ 2,671 $ 2,107
Investment Advisors $ 10,500 $ 10,500 $ 12,897 $ 10,500 $ 10,500
Pension Administration $ - $ 1,600 $ 10,108 $ 9,784 $ 9,600
Contractual Services $ 53,183 $ 50,593 $ 47,789 $ 46,416 $ 45,825
Pension Distribution/Benefits $ - $ 6,400 $ 8,534 $ 8,534 $ 7,822
Pension Distributions/Refunds $ 609 $ 10,239 $ 11,176 $ 9,406 $ 34,675
Pension Distributions/Benefits/Refunc $ 609 $ 16,639 $ 19,709 $ 17,940 $ 42,498
Travel & Per Diem $ 2,150 $ - $ 885 $ 253 $ -
Insurance $ 820 $ 876 $ 908 $ 910 $ 971
Other Misc. Charges and Obligations $ 22 $ 36 $ 198 $ 96 $ 89
IRS Filings & Communications $ 1,500 $ - $ - $ - $ -
Bank Charges $ 119 $ 20 $ - $ - $ -
Books, Publ, Subs & Memberships $ 933 $ 600 $ 3,293 $ 600 $ 600
Seminars & Training $ 1,000 $ 500 $ 450 $ 500 $ 150
Other Operating $ 6,545 $ 2,032 $ 5,734 $ 2,359 $ 1,810
*Report generated on October 24, 2013.
Notes:
1. Fiscal Year 2013 expenditures include only invoices received to date. We are still awaiting several invoices for this year.
Asset Allocation
Total Fund
As of Seutember 30. 2013
Asset Allocation By Segment as of Asset Ailocation By Segment as of
June 30, 2013 :$2,628,798 September 30, 2013 :$2,796,463
Allocation Allocation
Segments Market Value Allocation Segments Market Value Allocation
Domestic Equity 1,313,836 50.0 Domestic Equity 1,388,104 49.6
International Equity 243,467 9.3 International Equity 266,590 9.5
Fixed Income 1,028,910 39.1 Fixed Income 1,072,787 38.4
Cash Equivalent 42,584 1.6 Cash Equivalent 68,982 2.5
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Asset Allocation
Total Fund
As of Seqtember 30. 2013
Asset Allocation By Manager as of Asset Allocation By Manager as of
June 30, 2013 :$2,628,798 September 30, 2013 :$2,796,463
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Allocation Allocation
Market Value Allocation Market Value Allocation
Dana Balanced Portfolio 2,380,118 90.5 Dana Balanced Portfolio 2,526,870 90.4
Dana International Equity 248,628 9.5 Dana International Equity 269,541 9.6
R&D 52 0.0 R&D 52 0.0
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Comparative Performance
Total Fund (Gross)
As of September 30, 2013
Comparative Performance
QTR FYTD 1 YR 3 YR 4 YR 5 YR Inception Inception
Date
Total Fund (Gross) 3.91 (93) 12.18 (54) 12.18 (54) 10.67 (22) 10.50 (34) 8.70 (25) 5.72 (34) 11/01/2000
i�,i;�i l iind f'cilicy � � i ,�.,, � � i ;i ,, � � �G=.I) i �,l �/!,1 �I f;� (/;
i)ill��innce UU�i 1.3/ 1�31 � �i�S 0_�t'� �� I!
�= I����hli�� I'I�ui�;� �otal f�unci Median �I /', 12.33 1233 �� � i�l fS'� i �
Total Fund (Net) 3.77 11.59 11.59 10.09 9.92 8.21 5.44 11/01/2000
I� I iuul I'ulicy S 4l!� 1f) tS�l 1U_li1 S).l_ , 'J /; LR1 �Lf4,
Ililii�i��llt�c ���� 11�„ I1;�� U..'(I I1�'O fl��!I1 U[�.
Dana Core Equity 5.59 (60) 21.95 (32) 21.95 (32) 17.92 (23) 16.19 (18) 10.85 (38) 7.32 (44) 11/01/2005
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�I��i �I , , Cep Gore Eqiiily 1`�i����:I i i�:1nclinn ,:��'� 'U ��n ��; �� �li; �,� 1�� ���U iu , �,
Dana InYI Portfolio 8.41 (93) 18.36 (86) 18.36 (86) 7.26 (88) 6.88 (90) N/A 11.25 (84) 07/01/2009
I�IS(;I nC World ex USn 10 17 (74) 16-9�5 (J1j 16,�8 (91) t; ��3 (J'l_) 6 f32 (90) i, i i �iJl 11 02 (90)
i>iflcrenc�� 1/(J 1 3ES 1.38 O t33 0 06 N//V 023
11�1 hi���in,ili� Core I (SA+CF) �'Ic�litn� IU S��i � '> iS;' IU 1G '1 II) fi 10 1320
Dana Fixed Income 0.91 (17) 0.18 (28) 0.18 (28) 3.26 (29) 4.60 (27) 5.51 (54) 5.20 (53) 11/01/2005
� �n��l��v�; u�l ,���ediotenggregate Index n it; � r i � n �� I (/-!i �� ((��;) � � , ��'�) -I `)', (8/) �I f34J (84)
I)Iflu��c�ic�� U I!� U�;`+ 1J �1f1 O.G�i (Lii1 0 5G U.;S"I
IM U.S. Intermediate Duration (SA+CF) Median OJO -0.29 -0.29 2.89 4.15 5.55 5.26
Relums for periods greater than one year are annualized. Returns are expressed as percentages. Dana's inception dale is 10-13-2005. Dana Core Equity contains international prior to 7/1/2009. 1-�_��,,
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Comparative Performance
Total Fund (Gross)
As of September 30, 2013
Comparative Performance
Oct-2011 Oct-2010 Oct-2009 Oct-2008 Oct-2007 Oct-2006 Oct-2005
FYTD To To To To To To To
Sep-2012 Sep-2011 Sep-2010 Sep-2009 Sep-2008 Sep-2007 Sep-2006
Total Fund (Gross) 12.18 (54) 18.89 (30) 1.62 (25) 10.01 (49) 1.76 (45) -10.10 (7) 11.64 (90) 10.67 (18)
In'cil f iinil f'��lirn�; �u .�� �/;I� � iii � � I ��In� ! lii ��� ,�� n�I� �t ') I�I C;��) I� u� (���/) ���, (U ,)
lii'i'i:•�„i����. � „ �i� � , � �,���i I � � ,,t, n-�'",
�',!I � I�IIi i .,i. .��L �. . I�I, � i I ,. � � �III Il '� '1'.�� I '� I �li I'� ''.(1 ., i� �
Total Fund (Net) 11.59 18.29 1.08 9.43 1.64 -10.34 11.64 10.35
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Dana Core Equity 21.95 (32) 31.26 (27) 2.43 (33) 11.17 (29) -8.19 (76) -19.66 (43) 16.70 (54) N/A
. '�Il�llii�'„� I` . � �(��.4i ',I� '� ��. i I�I i IU� Il).�If; �!��� �I�11 �(i�1) ;'1.`)f4 ((II;� I(i.'I�l !!��)) ��I1:S1 (49�
��hlli�i��nn I il� I'�] 1 U1 I�'� �iU (17G I�U/\
IIV��ill' �,. i,, � il iii,-.. .�I Il�.l;��li,�i� 'li:'�I'� 'Ui" Ilfl; .J�fl �.ill .'(1-IIS III'1/ Ifl.i;.��
Dana InYI Portfolio 18.36 (86) 18.71 (25) -12.18 (87) 5.74 (62) N/A N/A N/A N/A
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i�i���,� �� i�i I�G", r�;� i�l;/' i�:;�.
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Dana Fixed Income 0.18 (28) 6.80 (21) 2.89 (77) 8.73 (31) 9.24 (84) 4.47 (32) 5.25 (76) N/A
�f�ui�.l�i��� ,;�icrii ��I�i��.��. , i � ; ,i'�,: i .,.. .. . , .. .. . .41 jf; ,i ' .� ,. ') .�. � . , `LG.. � , . �.I{, (:;!�) ...., � i .. , � (GU)
Dif(erence 0.89 249 -1.33 1.21 -0.45 0.31 -0.08 N/A
IM U.S Intermediate Duration (SA+CF) Median -029 5.57 3.60 8.25 11.44 324 5.49 3.91
Relurns for periods greater than one year are annualized. Returns are expressed as percenlages. Dana's incep[ion da[e is 10-13-2005. Dana Core Equily contains international prior to 7/1/2009.
THL�:
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