Académique Documents
Professionnel Documents
Culture Documents
of the
I. CALL TO ORDER
Messrs. Renck and Renck reviewed with the Trustees their investment
performance analysis for the quarter ending June 30, 1995 and other
financial information. President Renck noted that the Fund continues
to receive sound financial advice from the Pension Fund's Investment
Manager.
GOVERNME NT
EXHIBIT
GF-1
President Renck reviewed with the Trustees his firm's August 21, 19 95
written report regarding an investment management search and he
discussed the benefits derived from utilizing different investment
strategies.
President Renck and Fund Counsel Blitman reviewed with the Trustees
the status of the custodial search involving Paine Webber, Inc .} Smith
Barney, Inc. and others. Fund Counsel reviewed proposed changes he
had requested in the documents proposed by Paine Webber} Inc. and the
availability of custodial services being rendered at the Rochester
Office of Smith Barney, Inc. President Renck discussed various issues
involved in the custodial arrangement and recommended utilizing Paine
webber, Inc. President Renck indicated there were no changes he
proposed in the documents that Paine Webber, Inc. ~as suggesting to be
executed. Thereafter} a
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IV. PRESENT ATION OF MANNING & NAP I ER ADVISORS, INC.
Brad Goldman, Senior Vice President and Kurt schansinger, senior Vice
President entered the meeting and reviewed with the Trustees their
firm's written material including investment strategies utilized by
their firm. Various questions were asked and answered and Messrs.
Goldman and schansinger were excused from the meeting.
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After further discussions, a
MOTION was regularly made by Trustee Finkelstein
and duly seconded by Trustee Blake as follow s:
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IX. MISCELLANEOUS MATTERS
X. MEETING EXPENSES/ADJOURNMENT
After a review, a
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ADOPTED at a meeting of the Board of Trustees held on the
day of 1995.
DATED:
EMPLOYER TRUSTEE
DATED:
UNION TRUSTEE