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May 4, 2021Finance Committee Minutes <br />Director Hsieh introduced guest speakers Mr. Barker (PARS) & Mr. Yurchak <br />(HighMark) who provided an overview of various investment strategies offered by the <br />PARS pension trust. <br />Director Hsieh recommended a 5 to 7 year investment horizon for a moderately <br />conservative approach. <br /> <br />Committee members inquired about the reporting process. Mr. Barker stated that <br />monthly statements are sent to the Plan Administrator, et. al. with access. The <br />returns are shown for one month, six months, and one year. There is also an annual <br />on-site review (done via Zoom due to COVID.) Mr. Barker can send more detailed <br />statements on a quarterly or semi-annual basis. <br />Committee members requested to review this information with PARS & HighMark twice <br />a year (versus once a year) at minimum, so as to exercise the committee's social and <br />fiduciary responsibilities. <br />Mr. Yurchak mentioned the possibility of a customized strategy such as a blend of <br />active and passive, or a mix that falls between moderate and moderately conservative. <br />An actively managed portfolio would more closely consider socially responsible <br />investments. <br />Committee members stated a preference for an actively managed position at a <br />moderate risk tolerance rate. <br />Future Agenda Items2.B. <br />Director Hsieh provided the following list to Committee for future agenda items: <br />1. Review of City Debt <br />2. Discussion on Banking Services <br />3. Quarterly Financial Reports <br />4. Quarterly Pension and OPEB Trust Investment Reports <br />Committee members requested to add to the list: <br />- PERS Reports <br />- CIP List & Funding Status (unsure if the responsibility lies with the Finance <br />Committee or Facilities Committee) <br />PUBLIC COMMENTS3. <br />None were provided. <br />COMMITTEE MEMBER COMMENTS4. <br />No additional comments were provided. <br />ADJOURN5. <br />The meeting was adjourned at 4:48 p.m. <br />Page 2City of San Leandro