03-13-2007
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Edgewater Firefighter's Pension Fund
Regular Meeting
March 13,2007
Station 57
2626 Hibiscus
4:00 p.m.
CALL TO ORDER:
Chairman Jollie called to order the regular meeting of the Edgewater
Firefighters' Pension Fund Board on March 13, 2007 at 4:07 p.m. at
Edgewater Fire Rescue Station 57.
ROLL CALL:
Members present were Chairman Jim Jollie, Laura Reilly, Marty Tse,
Gary Butt and Ron Hayward. Also present was Mike Welker of Bogdahn
Consultants, Douglas Classen of Dana Investment, David Kelly of Bowen
Hanes & Company, Christopher Long and Greg Woodard of Manning &
Napier, Brett Tanner; Finance Director, Donna Looney; Interim Personnel
Director, Fire Chief Tracey Barlow and Shontella Jackson, Recording
Secretary .
APPROVAL OF MINUTES:
The minutes of the February 13,2007 meeting was submitted for
approval. MOTION bv Laura Reillv. SECOND bv Martv Tse to aDDrove
the minutes of Re2Ular Ede:ewater Firefie:hter's Pension Board on
Februarv 13,2007. MOTION CARRIED UNANIMOUSLY.
NEW BUSINESS:
Mike Welker of Bogdahn Consultant gave a brief overview of the
investment managers. Mr. Welker presented a fee analysis of the
investment managers to the Board for comparison.
Bowen Hanes & Company
David Kelly presented the Board with a packet of the company
background and investment process overview. Bowen Hanes & Co. is
headquartered in Atlanta, GA with an office in Winston-Salem, NC. The
firm assets under management approximated $2 billion. Bowen Hanes &
Co. manages the City of Venice Municipal Police Pension Fund.
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Edgewater Firefighters' Pension Fund
Regular Meeting
03/13/07 Page 2
Dana Investment Advisors Inc.
Doug Classen presented the Board with an information packet which
gave an overview of their investment process. Dana Investment has no
real estate products. Over $2.8 billion under management and the firm
is 27 years old. Dana Investment manages several municipalities such
as Oviedo Firefighters' Pension and Mt. Dora Police Officers Pension
Fund.
Manning & Napier Advisors Inc.
Christopher Long; V. President and Greg Woodard; Portfolio Strategist
presented the Board with an information packet. Manning & Napier is
headquartered in Rochester, NY. With over $14 billion in assets under
management.
Chairman Jollie opened the floor for discussion. The Board had a brief
discussion and Mr. Welker answered questions for the Board.
DISCUSSION ITEMS:
None.
ADJOURNMENT:
Chairman Jim Jollie adiourned the meetine: at 6: 17 p.m.
Minutes respectfully submitted by:
Shontella Jackson
Recording Secretary
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