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Oily of Casselberry Police Officers' and Firefighters' Pension board of Trustees mutes of May I O.201 Meelin Page 2 of A. The Boodahn Croup - Quarterly Financial Review Presentation Mr. Jack Evatt, The f oadahn Group, presented the performance review of investment activity for the quarter ending March 31, 2016. Y11jor Market Index Performance: The decrease and subsequent increase of energy prices was a contributing faetor to the unusual intraday volatility in both domestic and international stocks during this quarter. Additional factors included weaknesses in biotech and healthcare stocks, global economic growth concerns, and the prospect of rising domestic interest Yates. However, bond values increased and showed the hest gains during this time. AssetVocation by Total Fund: The quarter ending March 1, 2016 began at 17.96 million and ended at 18.15 million. flan cont6butiolls were $249,000 with distributions, fees, and expenses totaling approximately $103,000 with a return on investment of about $44,000. The plan continues to be very close to target 1*11 all segments. Comparative Performance: Active plan managers did poorly during the quarter and struggled to make their benchmarks. Domestic Equity Composite: The Vanguard Total Stock Market Index was up and helped to increase the overall portfolio for the quarter. Domestic qui C'on ositc c tiv ,. All of the active managers struggled this period and were down a combined 2.79%. The larger cap growth funds were hurt by capitalization. Primarily, biotech and technology were poor performers. The wells Fargo Growth Fund was behind their benchmark by 4.28% while the Delaware Small Cap Core was slightly ahead of the benchmark. International Equity Composite: International performance was similar to domestic. The largest effect was felt based on emerging market exposure. The American Funds EuroPacif c was down 2.32%. Transame ca International Equity was closer to their benchmark. It was Mr. Evatt's opinion that overall, out of International Equity managers, these two faired far better than average. Domestic Fixed Income: The Baird Aggregate Band was in Line with the benchmark at .03%. Global Fixed Income: while PIMCO Diversified and Templeton Global were big winners last quarter, this quarter they did not perform as well. They were hurt by currency exposure and were up 1. %. Alternative Income: Westwood Income Opportunity Fund was up 1.57%. Deal Estate Income: American Core Fealty bucked the trend of most Real Estate Composites and showed a gain of 2.63%. , New Business A. Discussion of the Summary flan Description (SPD) A revised Sunimary Plan Description was presented. The changes to the SPD include benefits changes, removal ofFire Department languacr . in many sections, d. the addition of the Share Plan four both Police and Fire. The new Surr mai-y Plan Description will be distributed to members by the Plan Administrator. MOTION: Member van ore moved to approve the revised Summary Pian Description with a correction to Exhibit A to replace the name William Hufford with Donald Harkins. Motion was seconded by Member Harkins. Motion carried by voice vote 3-0.