ARTICLE
Blair County Employees’ Retirement Fund Outperforms Amid a Challenging Market Hollidaysburg, Pennsylvania – November 10, 2022 -- The Blair County Retirement Board (the "Board"), consisting of Commissioners Bruce Erb, Amy Webster and Laura Burke, along with Treasurer Jim Carothers and Controller A.C. Stickel, recently met with Pat Wing from Marquette Associates, Inc. to review the Blair County Employees’ Retirement Fund’s (the "Fund") Investment Performance Report for the third quarter of 2022. The Fund had an investment return of -4.7% for the quarter (all returns are net of investment management fees), slightly outperforming its policy benchmark (-4.7% vs. -4.8%). A more conservative approach led to the outperformance amid a poor capital markets environment that saw global equity and fixed income markets decline by approximately 7% and 5%, respectively. Over the past year, the Fund had an investment return of -12.3%, outperforming its policy benchmark return of -13.9%. During this period, the Fund ranked in the top 20% in a national database of public funds of all sizes Since investment policy and investment changes were enacted by the Board in late 2014, the Fund’s return ranks in the top 39% in a national database of public funds of all sizes. During the same period the Fund’s risk-adjusted return ranks in the top 25% in a national database of public funds of all sizes. This indicates that the risk taken to generate the Fund’s return is better than 75% of the public funds included in the national database over this period. The Board’s disciplined rebalancing approach and concerted effort to control investment costs have largely driven the favorable results relatives to peer funds. With investment management fees at just 0.32%, the fees paid by the Fund remain considerably below most public fund peers.
Blair County Employees’ Retirement Fund Outperforms Amid a Challenging Market
Hollidaysburg, Pennsylvania – November 10, 2022 --
The Blair County Retirement Board (the "Board"), consisting of Commissioners Bruce Erb, Amy Webster and Laura Burke, along with Treasurer Jim Carothers and Controller A.C. Stickel, recently met with Pat Wing from Marquette Associates, Inc. to review the Blair County Employees’ Retirement Fund’s (the "Fund") Investment Performance Report for the third quarter of 2022.
The Fund had an investment return of -4.7% for the quarter (all returns are net of investment management fees), slightly outperforming its policy benchmark (-4.7% vs. -4.8%). A more conservative approach led to the outperformance amid a poor capital markets environment that saw global equity and fixed income markets decline by approximately 7% and 5%, respectively.
Over the past year, the Fund had an investment return of -12.3%, outperforming its policy benchmark return of -13.9%. During this period, the Fund ranked in the top 20% in a national database of public funds of all sizes
Since investment policy and investment changes were enacted by the Board in late 2014, the Fund’s return ranks in the top 39% in a national database of public funds of all sizes. During the same period the Fund’s risk-adjusted return ranks in the top 25% in a national database of public funds of all sizes. This indicates that the risk taken to generate the Fund’s return is better than 75% of the public funds included in the national database over this period.
The Board’s disciplined rebalancing approach and concerted effort to control investment costs have largely driven the favorable results relatives to peer funds. With investment management fees at just 0.32%, the fees paid by the Fund remain considerably below most public fund peers.