Investment Managers Report IP: 173.65.116.160 Posted on July 29, 2011 at 11:41:24 PM by Tommy Depolis
At the Jul 28th meeting of the pension board trustees our investment manager, Jay Bowen, presented his latest report. As of 6/30/11 the market value of investments was $1.574 billion. Investment return as of 6/30/11 was +17.5%. By Jul 28th the investment return had dropped to +14.5%. Mr. Bowen gave four causes for a declining or slow growing market.
1. The debt ceiling and budget debate in Washington.
2. The European market and financial turmoil.
3. China's attempt to slow their inflation rate.
4. Uncertainty of profits for companies traded on the U.S. market.
He went on to say that this is the slowest market recovery since the great depression. However, he is still able to identify productive stocks and maintain a healthy portfolio. Of course there is too much uncertainty to comment on the remainder of this fiscal year, so we will have to wait until Sep 30th to see how it turns out. Replies: There have been no replies.
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