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, Thursday – October 5, 2017 at 9:30 a.m. The meeting was called to order at 9:25 am Attendance PRESENT: Lee Collick- Chairperson Bret Nelson- Vice Chairperson Pat Paruch- Trustee Dave Poulton- Trustee Don Johnson- 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 August 11th, 2017 meeting Moved by Bret Nelson to approve the August 11th, 2017 meeting minutes Supported by Dave Poulton MOTION ADOPTED UNANIIMOUSLY 5/0 INVESTMENTS Investment report dated September 30, 2017 presented by Brian Green (report on file in the finance department), along with memo dated October 2, 2017 re: Update on current allocation status of trust investments Total fund performance since inception is 2.75% vs. policy index 3.56% Total fund performance for the quarter is 1.65% vs. policy index 2.40% Total fund performance for the month is 0.96% vs. policy index 1.09% Seizert Capital Mid Cap and NorthPointe Small Cap Value underperforming-Seizert owns more energy, reason for lower performance. AndCo is meeting with both managers next week (re- affirmation). Moved by Bret Nelson to receive and file report Supported by Pat Paruch MOTION ADOPTED UNANIIMOUSLY 5/0 LEGAL None OTHER Political Contribution Disclosure Form and Compensation Disclosure Form returned to the Board by AndCo. Moved by Bret Nelson to receive and file Supported by Pat Paruch MOTION ADOPTED UNANIIMOUSLY 5/0 NEXT MEETING AND ADJOURNMENT Next regular meeting is scheduled for immediately following the retirement system board meeting at approximately 9:30 am on Thursday – November 2, 2017 at City Hall room 309. Moved by Pat Paruch to adjourn the meeting (9:47 a.m.) and confirm next meeting for November 2nd, 2017 immediately following retirement system board meeting at approximately 9:30 am Supported by Bret Nelson MOTION ADOPTED UNIANIMOUSLY 5/0