the minutes. >> commissioner meiberger thank you. i'll rptd request the minutes are reflective of the minutes on the board meeting this is what minutes are about there was discussions of the value of the assets misinformation about a law and i think that the public needs to know the facts of the swoigs i'll respectfully ask the minutes be amended to include number one the gentle consulted al repeated the funds for 2015-2016 and 2014 were one .9 percent plus and 18 percent respectfully and then martin said the funds did amazingly well and the 16 and third for the last 3 fiscal years compared to did pension funds with assets grandchildren one billion dollars and secondly, the advocates spoke 9 protocol was 4 point plus blinded and more - since the fund had a positive return is the benefit of the payments and thirdly, for the period ending 2016 the fund was 7 point plus per year placing s c r s the best performing fund in the history of the pension fund no pension funds in the universe earned returns grandchildren the long-term assumes

the minutes. >> commissioner meiberger thank you. i'll rptd request the minutes are reflective of the minutes on the board meeting this is what minutes are about there was discussions of the value of the assets misinformation about a law and i think that the public needs to know the facts of the swoigs i'll respectfully ask the minutes be amended to include number one the gentle consulted al repeated the funds for 2015-2016 and 2014 were one .9 percent plus and 18 percent respectfully and then martin said the funds did amazingly well and the 16 and third for the last 3 fiscal years compared to did pension funds with assets grandchildren one billion dollars and secondly, the advocates spoke 9 protocol was 4 point plus blinded and more - since the fund had a positive return is the benefit of the payments and thirdly, for the period ending 2016 the fund was 7 point plus per year placing s c r s the best performing fund in the history of the pension fund no pension funds in the universe earned returns grandchildren the long-term assumes

the minutes. >> commissioner meiberger thank you. i'll rptd request the minutes are reflective of the minutes on the board meeting this is what minutes are about there was discussions of the value of the assets misinformation about a law and i think that the public needs to know the facts of the swoigs i'll respectfully ask the minutes be amended to include number one the gentle consulted al repeated the funds for 2015-2016 and 2014 were one .9 percent plus and 18 percent respectfully and then martin said the funds did amazingly well and the 16 and third for the last 3 fiscal years compared to did pension funds with assets grandchildren one billion dollars and secondly, the advocates spoke 9 protocol was 4 point plus blinded and more - since the fund had a positive return is the benefit of the payments and thirdly, for the period ending 2016 the fund was 7 point plus per year placing s c r s the best performing fund in the history of the pension fund no pension funds in the universe earned returns grandchildren the long-term assumes

sethi n spring a motion has been made by meiberger second bite makras. without objection the motion passes. thank you. please call item >> item 12 >> item 12 chief investment officer report >> thank you mdm. chairman can all be pretty quick here. november the proposed it fun. we were up 35 basis points. it was a huge divergence of return . the us stock market rallied very sharply after the election and meanwhile fixed income and international stocks did poorly. international stocks [inaudible] trade and fixed income on worries of inflation and rising interest rates. but overall the portfolio did fine. for the first five months of the year are both blue is up 3.17%. every aspect or every asset class in our portfolio is up for the year led by us stocks which are up 7.5% in the last five years. on a calendar year basis >>[inaudible] [off mic] in the last five months. i'm sorry. five months. on a calendar year to basis, we are up 5.83% and again us stocks are the asset class leading the market up up almost 9.5% we don't have any updates in personnel to annou