stansbury, no. motion passes. >> could you please call the next item. >> item 11 report on investment performance of the retirement fund for the quarter ended september 30, 2015. >> thank you madam chair. if we can turn i think it is to page 11-no, page 18. item number 11. page 18, in item 11. my mistake. you look on the lower left column, you see a rough quarter. just a tad over 4 percent for the quarter. that did compare favorable relative to the bench mark which was down 5. public equity, solidly outperformed by 40 basis points. tough market. public equity [inaudible] 9.59 for the quarter. importantly in fixed income is that it is not the diversifying we hope it tobe because there is so much credit risk and the high yield market now isn't a good functioning market. it is a very illiquid market, it is hard to sell things and when they sell they sell at shockingly large declines relative to the recent bid. in fixed income we did not do well nor have we done well over the last year. we lagged by 1.3

stansbury, no. motion passes. >> could you please call the next item. >> item 11 report on investment performance of the retirement fund for the quarter ended september 30, 2015. >> thank you madam chair. if we can turn i think it is to page 11-no, page 18. item number 11. page 18, in item 11. my mistake. you look on the lower left column, you see a rough quarter. just a tad over 4 percent for the quarter. that did compare favorable relative to the bench mark which was down 5. public equity, solidly outperformed by 40 basis points. tough market. public equity [inaudible] 9.59 for the quarter. importantly in fixed income is that it is not the diversifying we hope it tobe because there is so much credit risk and the high yield market now isn't a good functioning market. it is a very illiquid market, it is hard to sell things and when they sell they sell at shockingly large declines relative to the recent bid. in fixed income we did not do well nor have we done well over the last year. we lagged by 1.3

stansbury, no. motion passes. >> could you please call the next item. >> item 11 report on investment performance of the retirement fund for the quarter ended september 30, 2015. >> thank you madam chair. if we can turn i think it is to page 11-no, page 18. item number 11. page 18, in item 11. my mistake. you look on the lower left column, you see a rough quarter. just a tad over 4 percent for the quarter. that did compare favorable relative to the bench mark which was down 5. public equity, solidly outperformed by 40 basis points. tough market. public equity [inaudible] 9.59 for the quarter. importantly in fixed income is that it is not the diversifying we hope it tobe because there is so much credit risk and the high yield market now isn't a good functioning market. it is a very illiquid market, it is hard to sell things and when they sell they sell at shockingly large declines relative to the recent bid. in fixed income we did not do well nor have we done well over the last year. we lagged by 1.3

motion is made by commissioner stansbury and second by commissioner driscoll. the motion passes unanimously. any other matters before the body? >> [inaudible] >> any other matters before this body? >> no calendar items >> this meeting is adjourned. thank you. [meeting adjourned]. >> ladies and gentlemen, the chair has called the meeting to order. please turn off your electronic devices as they interfere with the equipment in the room. please rise for the pledge of allegiance. >> i pledge allegiance to the flag of the united states of america and to the republic for which it stands, one nation, under god, indivisible, with liberty and justice for all. >> president, loftus, i would like to call roll. >> commission president loftus, commission president turman, commission marshall, commissioner dejesus, commissioner hwang is excused, commissioner mazzucco, commissioner melara. and with us is greg chief suhr and office of complaint joyce hicks. >> thank you, i would like to welcome everyone to our meeting tonight. we have an incredible crowd of people who have come