General Employee Pension Board Minutes 09-12-2013 CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
GENERAL EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
September 12,2013
1. The City of Atlantic Beach General Employees' Pension Board meeting was called to order at
6:30 P.M. The members in attendance were trustees: Timothy Townsend, Gil Flores,and Alan
Gleit. Nelson Van Liere,Pension Plan Administrator and Investment Advisor Michael O'Shields
were also in attendance.
2. Approval of the minutes from the General Employee Retirement System August 15,2013
meeting. Motion to approve was made by Alan Gleit and seconded by Timothy Townsend. The vote
was unanimous to approve.
3. Michael O'Shields led the discussion on the investment performance for the month of August
including year to date information. Discussion related to current equity and bond investment
allocation. Current quarterly performance has resulted in a$302,427 gain with a current ending
portfolio value of$13,590,848 which represents a 2.3%net return for the quarter as of 9/10/13. The
board agreed to maintain current aggressive strategy due to expected favorable conditions for
September.
4. Adjournment—the meeting was adjourned at 6:50 PM.
im by ownsend Alan Gleit
Cham Secretary
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