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Commissioners approved trades moving investments from the underperforming BIZD exchange-traded fund into energy pipeline and high-dividend, lower-volatility funds, while suspending further work on proposed investment-parameter changes and an external OPEB portfolio manager. The board also approved $547.96 in Library Trust Fund expenditures and recorded $14,940 in trust-fund revenue.
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The investment changes affect the Town’s main account, OPEB retiree health care trust, Library Endowment, and Library Trust Funds. Work on changing investment rules for the General Stabilization Fund and hiring an outside manager for the OPEB trust is paused following the resignation announcement of Select Board Member Paras Bhayani. The board reported that the Library Endowment held 63.2% in equities and that its asset allocation matched the investment policy.
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