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, Wednesday – April 11, 2018 at 4:00 p.m. The meeting was called to order at 5:01 pm Attendance PRESENT: Lee Collick- Chairperson Bret Nelson- Vice Chairperson Kim Gibbs- Trustee Don Johnson- Trustee ABSENT: Kyle DuBuc- Trustee ALSO PRESENT: Julie Rudd - Bd Chief Administrative Officer/ Bd Secretary/Bd Treasurer Leah Motyka - Administrative Assistant- Pension Technician Brian Green – Investment Advisor with AndCo EXCUSED ABSENCE: Moved by Bret Nelson to excuse Trustee Kyle DuBuc’s absence Supported by Kim Gibbs MOTION ADOPTED 4/0 Public Comment- none Board approval of the draft minutes for March 8th, 2018 meeting Moved by Don Johnson to approve the March 8th, 2018 meeting minutes Supported by Kim Gibbs MOTION ADOPTED UNANIIMOUSLY 4/0 INVESTMENTS March 31, 2018 Investment performance report presented by Brian Green Market value/allocation of assets as of March 31, 2018 is $111,328,211 Total fund performance since inception is 5.49% vs. policy index 6.79% Total fund performance for the quarter is -0.46% vs. policy index -0.60% Total fund performance for the month is -0.87% vs. policy index -1.20% Total fund performance for YTD is -0.46% vs. policy index -0.60% Total fund performance for one year is 5.49% vs. policy index 6.79% Brian discussed annual asset class performance for different equity classes from 2003-2017 (best performer vs. worst performer). The complete report is on file in finance office. Moved by Don Johnson to receive and file report Supported by Bret Nelson MOTION ADOPTED UNANIIMOUSLY 4/0 LEGAL- none OTHER- none NEXT MEETING AND ADJOURNMENT Next regular meeting is scheduled immediately following the retirement system board meeting at approximately 4 pm on Tuesday – May 8th, 2018 at City Hall room 309. Moved by Don Johnson to adjourn the meeting (5:19 p.m.) and confirm next meeting for May 8th, 2018 immediately following retirement system board meeting at approximately 4 pm Supported by Kim Gibbs MOTION ADOPTED UNIANIMOUSLY 4/0