General Employee Retirement System Meeting

CITY OF MADISON HEIGHTS GENERAL RETIREE HEALTH CARE BOARD REGULAR SCHEDULED TRUSTEE MEETING July 19, 2022 The Meeting of the City of Madison Heights General Retiree Health Care Board of Trustees was held on Tuesday, July 19, 2022, at 9:40 a.m. at 300 West Thirteen Mile Road, Madison Heights, Michigan. Present: Chairperson, Jeff Geralds Board Members: Kevin Barrett, Linda Kunath, Kevin Powers, Anthony Roberts Others Present: Retirement System Attorney Thomas Michaud Morgan Stanley\Graystone investment advisors Brian Brice and Rebecca Wolfe 01-23 Approval of Minutes of the Special Meeting of May 26, 2022 Motion by Trustee Roberts and supported by Trustee Barrett to approve minutes of the special meeting of May 26, 2022. Yeas: Barrett, Geralds, Powers, Roberts, Kunath. Nays: None Motion Carried. Meeting Open to the Public No items were discussed. 02-23 Morgan Stanley\Graystone Consulting Investment Report – 2Q, 2022 Morgan Stanley discussed the asset allocation sheet, percentage of portfolio and differences to policy. The total assets as of July 11, 2022 were $16,191,153 and $16,045,304 as of June 30, 2022. The quarter end return was -5.51% (net of fees) compared to -5.49% benchmark. Motion by Trustee Powers and supported by Trustee Robert to receive and file the investment reports. Yeas: Barrett, Geralds, Roberts, Kunath. Nays: None Motion Carried. 03-23 Adjournment Motion by Trustee Barrett and supported by Trustee Roberts to adjourn the meeting. Yeas: Geralds, Barrett, Roberts, Kunath. Nays: None Motion Carried. The meeting was adjourned at 9:44 a.m. Respectfully submitted, Linda Kunath, Secretary 1 07/19/2022