Danvers Retirement Board approves $23.3M portfolio gain and three service contracts.
Danvers Retirement Board approves $23.3M portfolio gain and three legal contracts. Segal Marco Investment Manager Rafik Ghazarian reported a 2025 net investment return of $23,318,976, or 13.8 percent year-to-date, outpacing the PRIT benchmark of 12 percent. The board unanimously approved three
Retirement Board · Meeting of January 28, 2026
Danvers Retirement Board approves $23.3M portfolio gain and three legal contracts. Segal Marco Investment Manager Rafik Ghazarian reported a 2025 net investment return of $23,318,976, or 13.8 percent year-to-date, outpacing the PRIT benchmark of 12 percent. The board unanimously approved three rebalancing moves: $2 million from PRIT Hedge Fund to International Equity, $2 million from Kayne Anderson to Rhumbline S&P 600, and $1.5 million from Eagle Management to cash.
Bills payable of $1,616,609.53 were approved; four new employees were admitted to the retirement system; and three service contracts with KMS Actuarial, Murphy Hesse Toomey & Lehane, and Sacco & Collins were unanimously authorized for Chair Joseph L. Collins' signature.
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Source: the Retirement Board meeting of January 28, 2026, compiled from the official minutes.
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