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 – August 11, 2017 at 9:30 a.m. The meeting was called to order at 10:25 am Attendance PRESENT: Lee Collick- Chairperson Bret Nelson- Vice Chairperson Pat Paruch- 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 EXCUSED ABSENCE: Moved by Pat Paruch to excuse Trustee Don Johnson’s absence Supported by Bret Nelson MOTION ADOPTED 4/0 Public Comment- none Board approval of the draft minutes for July 14th, 2017 meeting Moved by Pat Paruch to approve the July 14th, 2017 meeting minutes Supported by Bret Nelson MOTION ADOPTED UNANIIMOUSLY 4/0 INVESTMENTS Memo dated July 31, 2017: Update on current allocation status of trust investments Moved by Bret Nelson to receive and file memo Supported by Pat Paruch MOTION ADOPTED UNANIIMOUSLY 4/0 July 31, 2017 flash performance report presented by Brian Green (report on file in the finance department) Total fund performance since inception is 1.95% vs. policy index 2.18% Total fund performance for the month is 0.87% vs. policy index 1.04%-NorthPointe Small Cap Value and Templeton Global Total Return underperformed causing the difference Moved by Bret Nelson to receive and file report Supported by Pat Paruch MOTION ADOPTED UNANIIMOUSLY 4/0 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 Thursday – October 5, 2017 at City Hall room 309. Moved by Dave Poulton to adjourn the meeting (10:42 a.m.) and confirm next meeting for October 5th, 2017 immediately following retirement system board meeting at approximately 9:30 am Supported by Pat Paruch MOTION ADOPTED UNIANIMOUSLY 4/0