The URL can be used to link to this page

Home My WebLink About12092013 minsSANFORD POLICE OFFICERS' RETIREMENT SYSTEM PENSION • MEETING MINUTES "SPECIAL MEETING" Monday, December 9,, 2013 — 2:00 P.M. 1. Call to Order and Roll Call The meeting was called to order at 2:00 p.m. by the Chairman, Darrel Presley. The following members were present: Chris Collison, Alan Smith, Bill Elliott, and John Dovydaitis. 2. Interview Small Cap Managers Robert Mancuso and Christopher Colarik presented the overview of Glenmede Small Cap Management. They included an introduction of the management team and a review of the portfolio holdings. After answering questions from the Trustees and the Investment Consultant, they closed their presentation. Janet Quarberg began the presentation by providing an overview of RBC Global Asset Management. George Prince continued the presentation by discussing the RBC investment philosophy. They concluded the presentation by reviewing the portfolio holdings and investment strategy. After answering questions from the Trustees and the Investment Consultant, they closed their presentation. Eoin Muddaugh and James Wallerius presented the overview of Systematic Financial Management. They discussed the management team and reviewed the portfolio holdings. After answering questions from the Trustees and the Investment Consultant, they closed their presentation. 3. Determine Course of Action Following some discussion, a motion was made by Alan Smith to transfer the Small Cap portfolio from Lee Munder and to allocate those funds equally between Glenmede and RBC - Management as the new Small Cap Managers for the Plan pending review and approval of the agreements by the Plan Attorney. Seconded by Chris Collison, the motion carried unanimously. Greg McNeillie will coordinate the execution of the contractual agreements with the Plan Attorney and the transfer of the assets with the Plan Administrator as soon as administratively possible. 4. Review and Approve Revised Investment Policy Statement A brief discussion took place regarding the revised IPS. A motion was made by Alan Smith to adopt the revised IPS and to have the Chairman execute the document for distribution by the Plan Administrator. Seconded by Chris Collison, the motion carried unanimously. 5. Adjournment The meeting ended at 4:00 p.m. For the Board: