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PRESENTATION FROM THE CITY’S INVESTMENT BOARD CONCERNING THE 2023 INVESTMENT MANAGEMENT
Craig Millar, Chief Financial Officer introduced Geoff Waters, Chair of the Investment Board and acknowledged Thierry Rayaisse, Portfolio Manager of Jason Bayley, Investment Analyst for their management of the City’s investment portfolios.
Geoff Waters, Chair of the City’s Investment Board provided a presentation regarding the 2023 Investment Management Report.
Mr. Waters discussed slides concerning the following topics:
• The City’s market performance in 2023;
• The Magnificent Seven (group of high-performing and influential companies in the stock market) in 2023;
• The highlights on the City’s performance related to the return/benchmark for the operating, capital and growth funds;
• The performance highlights (realized/unrealized) for money market, fixed income and equity;
• Pie Charts illustrating the asset allocations;
• The liquidity profile for the operating fund;
• The sector allocation for the capital fund;
• The longer maturity of the corporate bonds outperformance in 2023;
• A summary of the growth fund portfolio; and
• A summary of the market outlook and opportunities.
Members of Committee asked a number of questions of Mr. Waters, City staff and received responses.