Retiree Health Care Investment Board

CITY OF ROYAL OAK RETIREE HEALTH CARE INVESTMENT BOARD MINUTES OF THE REGULAR MEETING OF THE BOARD OF TRUSTEES A meeting of the Retiree Health Care Investment Board of Trustees was conducted in the city hall conference room 309, Royal Oak MI, Friday – July 14, 2017 at 9:30 a.m. The meeting was called to order at 9:26 am Attendance PRESENT: Lee Collick- Chairperson Bret Nelson- Vice Chairperson Pat Paruch- Trustee Don Johnson- Trustee Dave Poulton- Trustee ALSO PRESENT: Julie Rudd - Bd Chief Administrative Officer/ Bd Secretary/Bd Treasurer Tom Michaud – Bd attorney with VanOverbeke Michaud and Timmony Brian Green – Investment Advisor with AndCo Leah Motyka - Administrative Assistant- Pension Technician Public Comment- none Board approval of the draft minutes for June 1st, 2017 meeting Moved by Dave Poulton to approve the June 1st, 2017 meeting minutes Supported by Pat Paruch MOTION ADOPTED UNANIIMOUSLY 5/0 INVESTMENTS Memo dated July 5, 2017: Update on current allocation status of trust investments Receive and file memo Real Estate Investment Manager Roster/Investment Schedule dated July 14, 2017 (report on file in the finance department) presented by Brian Green Brian is reviewing contracts for a $5,000,000 allocation to the Prudential PRISA II (core plus strategy) Private Real Estate Fund. Fees were disclosed and a contract will be worked on with Tom Michaud. Receive and file report June 30, 2017 flash performance report presented by Brian Green (report on file in the finance department) Total fund performance since inception is 1.08% vs. policy index 1.11% Total fund performance for the month is 0.30% vs. policy index 0.24% Receive and file report LEGAL None OTHER None NEXT MEETING AND ADJOURNMENT Next regular meeting is scheduled for immediately following the retirement system board meeting at approximately 9:30 am on Friday – August 11, 2017 at City Hall room 309. Moved by Dave Poulton to adjourn the meeting (9:46 am.) and confirm next meeting for August 11th, 2017 immediately following retirement system board meeting at approximately 9:30 am Supported by Pat Paruch MOTION ADOPTED UNIANIMOUSLY 5/0