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Police Pension Minutes 2013 08-13-13 i Yorkville Police Pension Fund Board 804 Game Farm Road Yorkville, IL 60560 (630) 553 -4340 5 : OOPM on August 13 , 2013 Police Department Conference Room Minutes Attachments : Meeting Minutes for May 13 , 2013 President/Secretary to sign Meeting Minutes for Jun 21 , 2013 Special Meeting Meeting Minutes for Jul 15, 2013 Special Meeting Monthly Treasurer' s Report as of June 30, 2013 Bills for Payment Meeting Call to Order : President Todd Overmyer 5 : 03pm Roll Call: Present: Mr. Sibenaller, Mr. DuSell, Mr. Fredrickson, Mr. Mikolasek, Mr. Goldsmith, Mr. Overmyer Guests : Dwight Ower and John Mitchell, Mitchell, Vaught and Taylor; Cary Collins, Attorney; Larry DeBord Previous Meeting Minutes: May 13 , 2013 Corrections/Approval : Motion to approve : Mr. DuSell 2"d Mr. Sibenaller 5 Ayes 0 Nays Jun 21 , 2013 Special Meeting Corrections/Approval Motion to approve: Mr. DuSell 2nd Mr. Mikolasek 5 Ayes 0 Nays July 15, 2013 Corrections/Approval Motion to approve: Mr. DuSell 2nd Mr. Mikolasek 5 Ayes 0 Nays Communications : Monthly Treasurer' s Report: as of June 30, 2013 Motion to Approve: Mr. Mikolasek 2nd Mr. Sibenaller 5 Ayes 0 Nays i Bills for Payment: MVT Management Fee : (Jul - Sep 2013 ) $ 5,534 . 00 From Schwab Acct: 3137-9036 Zabinski Consulting Services (May-June 2013 ) $ 316 . 67 IPPAC Conference Tuition (Ryan Goldsmith $ 1 ,050 . 00 Greg Sibenaller, Ray Mikolasek, Fred DuSell) Greg Sibenaller (IPPAC Conference Lodging — (Ryan Goldsmith, Greg Sibenaller, Ray Mikolasek, Fred DuSell) $ 810 . 96 IPPAC Annual Membership Fee $ 500 . 00 Collins and Radja: Attorney $ 15350 .00 Total Bills for Payment: $ 9,561 .63 i Motion to Approve : Mr. DuSell 2nd Mr. Goldsmith j Roll Call Vote : Mr. Mikolasek Aye, Mr. DuSell Aye, Mr. Sibenaller Aye, Mr. Goldsmith Aye, Mr. Overmyer Aye . I Investments : Progress Reports from Mitchell, Vaught, and Taylor John Mitchell: Included Growth and Emerging Markets Equity Overview in packet Fund has net investment gain of $ 1 ,465,600 since 03/31/2006 Discussion of internationals o Oakmark International was brought back into fund and beat benchmarks + 10 . 93 % o Lazard Emerging Markets has been in portfolio for a long time +2 .42% Domestics i o Artisan Mid Cap +3 .27% Negatives o Domestics outperformed foreign stocks o worst bond market in fifty years, investment grade worst since 1986 o bought Walmart (corporate bond) last quarter and it performed poorly Overall � ( o Since inception of fund the tim waite . •oss gain is 6 .2% which is one percent over the Yorkville Investment Policy benc mark Next quarter strategy o Will look for short duration bonds due to rising rates negatively affecting long duration bonds o Looking to bleed off mortgage backed securities Unfinished Business : Finalize agreement with Great Lakes Advisors to manage equities Moved till later date until blanks are filled in on contract and signed by President and Secretary Cary Collins : language and terms have been fmalized New Business : I Personnel Changes and Additions: f Additional Business : Pension Beneficiary Certification Forms sent out Have received all back from beneficiaries but one - Blue pension books are finished and will be delivered soon j i Next meeting: Nov 12, 2013 5 : 00pm Motion to Adjourn: President Todd Overmyer 5 : 36pm 2013 meeting dates : Feb 12, May 13 (Monday), Aug 13 , Nov 12 Presi e Secretary i