02-18-10 Minutes v CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE OFFICERS' PENSION BOARD SPECIAL MEETING
MINUTES
March 4,2010
1. The City of Atlantic Beach Police Officers' Pension Board Special Meeting was called to order
at 5:03 PM. The members in attendance were trustees: Dale Hatfield, Bob Steinfeld, John Wolfel,
Harry McNally and Vic Gualillo (who arrived at 5:25 PM). Also in attendance were Nelson Van
Liere, Pension Plan Administrator; &Michael O'Shields, Investment Consultant from Morgan
Stanley Smith Barney.
2. The selection of the Officer's for the Police Officers' Board of Trustees were: the motion for Dale
Hatfield as Chair was made by Harry McNally, seconded by John Wolfel & unanimously approved;
the motion for Vic Gualillo as Vice Chair was made by Dale Hatfield, seconded by Harry McNally&
unanimously approved; &the motion for Harry McNally as Secretary was made by John Wolfel,
seconded by Dale Hatfield & unanimously approved.
3. The Investment Policy for the Police Officers' Pension was approved: the motion was made by
Vic Gualillo, seconded by John Wolfel & unanimously approved.
4. The selection of the Investment Managers for the Police Officers' Pension was:
Investment Manager Second
Investment Type Selected First Motion Motion Approved Opposed
Bob
Large Cap Growth Jennison Associates _ Sternfeld John Wolfel All None
Metropolitan West
Capital Management,
Large Cap Value LLC John Wolfel Dale Hatfield All None
Penn Capital
Mid Cap Management John Wolfel Bob Sternfeld All None
Bob -------
Small Cap Growth Riverbridge Partners Sternfeld Dale Hatfield All None
Small Cap Value GW Capital Inc. John Wolfel Harry McNally All None
International Harding Loevner John Wolfel Harry McNally All None
Fixed Income-
50% McDonnell Government John Wolfel Harry McNally All None
Fixed Income - Madison Investment
50% Advisors John Wolfel Harry McNally All None
5. Discussion of Investment Policy adopted above: the motion was made by Dale Hatfield to amend
page 3 to delete MSCI EAFE & add MSCI AC World EX US, seconded by John Wolfel&
unanimously approved.
6. No New Business.
7. Adjourn—the motion was made by Harry McNally&the meeting was adjourned at 7:04 PM
V ‘71-7
Vic ualillo Harry McNally
Vice Chair Secretary