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BENCHMARK REVISIONS
Thierry Rayaisse, Portfolio Manager provided a brief overview on the Board's discussion at the last meeting pertaining to benchmarks.
The Investment Board noted that an appropriate benchmark should align to the objectives of the City's Investment portfolio and what it must do for the City of Barrie.
The Investment Board discussed the pros and cons of various Fixed Income benchmarks. They agreed that the Fixed Income benchmarks should be revised to consider the constraints of annual distributions to meet the City's cash flow needs.
The Investment Board approved the use of a Composite Weighted Return of 1-5 Year Laddered Corporate and Government Bond Indices. They noted that a vendor will be selected at a later date.
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