Trustees of Trust Funds Minutes
September 1, 2011

 

Trustees present: Dowse, and Huntington

Others present: Mike Wrenn, Relationship Manager of Bank of America

Chair Dowse called the meeting to order at 9 A.M.

Wrenn provided copies of the investment report and spoke in general about the volatility of the present economy.

US Trust has lowered its estimate of growth by 50 basis points for the year.

Common Fund: Assett allocation aprox. 25% equities 75% bonds and cash. YTD performance 3.6%. Continuing concern as how to replace higher yield bonds as they mature.

Expendable Fund: Up about 2%. No changes needed.

Investment Guidelines - Discussion re: adding phrase to include short term bond funds to eligible expendible investments. Dowse will have updated copy to sign for Department of Justice, Charitable trust Division at next meeting.

Next meeting Thursday 9/8 at 9:00.

Respectfully,

Leonard Dowse
Secretary Pro Tem

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