HomeMy WebLinkAboutMinutes - 2023.10.18 - 40796AMENDED OAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD
INVESTMENT SUB -COMMITTEE MINUTES
A meeting of the Oakland County Employees' Retirement and Deferred Compensation Board
Investment Sub -Committee was held on October 18, 2023 at 11:00 a.m. in the Pernick Aaron
Conference Room of the Board of Commissioners building.
I. CaII to Order/ Roll CaII
Members Present:
Members Absent
With Notice:
Others Present:
James VanLeuven, Jeffrey Phelps, Robert Wittenberg
Joseph Rozell
Carly Webster, Human Resources
Kelly Pena, Human Resources
Ambria Ellis, Human Resources
Chris Kuhn, AndCo
Peter Brown, AndCo
Ben Baldridge, AndCo
II. Approval of the Agenda
A. Moved by Wittenberg, seconded Van Leuven to approve the agenda as submitted.
Motion carried.
III. Public Comment
None
IV. Regular Agenda
V. Reports
A. Jerry Moffitt and Michael Vandenbossche of Boyd Watterson presented on
Intermediate Fixed Income Strategies. Discussion followed.
B. Raymond Caprio and Mark Anderson of National Investment Services presented on
Intermediate Fixed Income Strategies. Discussion followed.
Moved by Van Leuven, seconded by Wittenberg to recommend to the full board to
enter into agreement with Boyd Watterson and National Investment Services (NIS) to
provide Intermediate Fixed Income investment management services for a 3%
allocation (each) of the Oakland County VEBA Fund, to be funded overtime and
subject to legal review. Motion carried.
C. Ben Baldridge of AndCo Consulting presented the Distressed Manager Search
report and provided comments summarizing highlights contained in the report.
Discussion followed.
Moved by Van Leuven, seconded by Wittenberg to interview Marathon Asset
Management, L.P. and Strategic Value Partners, LLC to provide Distressed Fixed
Income investment management services for the Oakland County Employees'
Retirement System and VEBA Funds. Motion carried.
Investment Sub -Committee Minutes
Oakland County Employees' Retirement and Deferred Compensation Board
October 18, 2023
Page 2
D. Chris Kuhn of AndCo Consulting presented the Asset/Manager Summary — October
21, 2023, and provided comments summarizing highlights contained in the report.
Discussion followed.
Moved by Wittenberg, seconded by Van Leuven to recommend to the full board the
new target allocations for small/mid-cap as presented by AndCo on the
Asset/Manager Summary for both the OCERS and VEBA Funds. Motion carried.
VI. Unfinished Business
None
VII. New Business
VIII. Trustee Comment
A. Vice -Chairperson Phelps noted the next meeting of this Board will be Thursday,
November 16, 2023, at 10am in the Waterford Room of the Executive Office
Building.
B. Vice -Chairperson Phelps adjourned the meeting without objection at 1:10 p.m.
Respectfully submitted,
,d'efi Phelps, Vice -Chairperson
ty'Websyr, Secretary