The Pension Board met on September 25.

The primary decision was to allocate funds to two multi-strategy platforms to the Capital Preservation bucket: Magnitude and Graham. Magnitude offers exposure to a diversified set of multi-strategy managers with approximately 70% of Magnitude’s portfolio composed of managers that are otherwise inaccessible to new investors so providing our Plan with a unique advantage. Graham, on the other hand, specializes in macro strategies—a segment underrepresented in our current capital preservation structure—and thus provides complementary diversification. The proposed changes are expected to improve the portfolio’s performance. The current Capital Preservation allocation has delivered an annualized return of approximately 4% with a volatility of 5.5% for the period between August 2023 and July 2025. The revised structure, incorporating the new managers, would by contrast have yielded over the same period a higher 9% return with reduced volatility of 2.4%.

Final preparations for the upcoming annual meeting of the pension plan, scheduled for October 9 were also discussed. The meeting is a key event in the pension calendar, with approximately 300 attendees expected. In response to feedback from previous years, the proposed presentation will be lighter in content and considerably more concise, with a target duration of 60 minutes to improve participant retention throughout the session.