HomeMy WebLinkAbout05/16/2011 FPFB Minutes (special)Minutes of the Special Meeting of the
Mount Prospect Firefighters Pension Fund Meeting
May 16, 2011
I. CALL TO ORDER — ROLL CALL
President John Malcolm called the meeting to order at 1:02 p.m.
Present upon roll call John Malcolm - President
David Erb — Treasurer
Sam Baas — Retired Member
Joe Knoll — Secretary/Firefighter
Absent Jeff Ricker — FIOA /OMA Officer /Firefighter
Also present was Rick Potter and Mary Kannankeril Nye of Becker, Burke
Associates.
II. APPROVE AGENDA
Motion by Dave Erb, seconded by Sam Baas, to approve the Agenda as
submitted.
Motion was approved.
III. CITIZENS TO BE HEARD
None
IV. NEW BUSINESS
A. Presentations were given from the following Fixed Income Investment
Managers:
1. C.S. McKee, L.P
by Joseph Buongiorno and Brian Allen.
2. Galliard Capital Management, Inc.
by David Ferry
3. Great Lakes Advisors, Inc.
by Tom Kiley and Steve Rost
4. Mesirow Financial Investment Management, Inc.
by Andrew Pataky and Peter Hegel
Discussion by the Board as to Corporate Structure, Structure, Investment
Philosophy, Portfolios, Performance, Investment Experience and Fees of
the four Fixed Income Investment Managers.
Motion by John Malcolm, seconded by Dave Erb, to select Galliard
Capital Management, Inc. as the Fixed Income Investment Manager, and
to negotiate a reduction of their fees from 25bp to 20bp.
John Malcolm — yes
Dave Erb — yes
Joe Knoll — yes
Sam Baas - yes
Motion was approved.
V. OTHER NEW BUSINESS
None
VI. ADJOURNMENT
Motion by Dave Erb, seconded by John Malcolm, moved to adjourn the
meeting at 4:10 pm.
Motion was approved.
Respectfully Submitted,
Joe Knoll
Secretary
Minutes approved at the July 26, 2011 meeting.