Investment Committee reviews Q4 results, charts strategic portfolio path
Andover's $371.8 million retirement fund posts strong 12.1 percent return through 2023. The Investment Committee heard from Chief Financial Officer Patrick Lawlor that preliminary fourth-quarter results showed a 7.5 percent return, with the fund's 10-year performance ranking in the top percentile
Investment Committee · Meeting of January 25, 2024
Andover's $371.8 million retirement fund posts strong 12.1 percent return through 2023. The Investment Committee heard from Chief Financial Officer Patrick Lawlor that preliminary fourth-quarter results showed a 7.5 percent return, with the fund's 10-year performance ranking in the top percentile of all public funds in America at 8 percent. The fully funded portfolio holds $305 million in PRIT, $21.2 million in RhumbLine equities across mid-cap and small-cap positions, and $26.1 million in cash earning 5.65 percent.
Committee members discussed potential interest-rate scenarios and private-debt strategies but took no formal votes on substantive recommendations.
In the full story:
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Source: the Investment Committee meeting of January 25, 2024, compiled from the official minutes.
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