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<br /> <br /> <br />BOARD OF TRUSTEES FOR UNIVERSITY CITY PENSION PLAN <br />MINUTES OF JOINT MEETING <br /> <br />Non-s Retirement System <br />July 24, 2018 at 6:30 p.m. <br /> <br />A meeting of the Board of Trustees was called to order by acclamation at 6:30 p.m. at the <br />Heman Park Community Center 975 Pennsylvania Ave, University City, MO. <br /> <br />Members in Attendance: Frank Reedy, Edward McCarthy, Thomas Jennings, Juli Niemann, <br />James Stutz, Brian Isenberg, Joel Myers, Ewald Winker; non- <br />voting Gregory Rose and Steve McMahon <br /> <br />Member(s) Absent: Holston Black <br /> <br />Member(s) Excused: Patrick Wall <br /> <br /> <br />Others in Attendance: Sean Hughes Ziegler Capital Management <br />Kara Krawzik Greensfelder, Hemker & Gale, P.C <br />Shannon Koons Conduent <br /> Tina Charumilind Treasurer <br /> <br />Agenda <br />Chairman Reedy called for an approval of the agenda. Agenda was motioned for approval. <br />The agenda was seconded and approved with unanimous consent. <br /> <br />Minutes <br /> <br />Member Rose mentioned that both he and Member McMahon should be listed under Members <br />in Attendance, non-voting, in the draft of the minutes. Member Jennings motioned to approve <br />the May 22, 2018 Meeting Minutes, including this new motion by Member Rose. The motion <br />was seconded and approval carried unanimously. <br /> <br />Quarterly Portfolio Review <br />Sean Hughes opened with saying that overall economic growth has been good, employment is <br />strong, unemployment is at a really low level, and corporate profits are also strong and actually <br />at a record level. This is primarily due to tax reforms that reflected above average earnings <br />growth. The second quarter is where we had growth outperforming value of stock. Equities and <br />Covered Call have outperformed bonds by a wide margin, which is more good news. Mr. <br />Hughes also discussed bonds and Covered Call in regard to the portfolio. Acceptance of the <br />reports was unanimous. <br /> <br /> <br /> <br /> <br />