Investment Committee Minutes – July 10, 2007

                              Investment Committee Meeting
                 ...
Mr. Nelson presented an overview of the report.

Motion to enter non-public session for the purpose of reviewing confident...
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Investment Committee Minutes … December 12, 2006

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Investment Committee Minutes … December 12, 2006

  1. 1. Investment Committee Minutes – July 10, 2007 Investment Committee Meeting July 10, 2007 New Hampshire Retirement System 54 Regional Drive Concord NH 03301 Investment Committee: Dean Crombie, Debra Douglas, Senator Harold Janeway, Chuck Koontz, Representative Patricia McMahon, Charlton MacVeagh, Germano Martins, Joe Morris, Brian Morrissey and State Treasurer Catherine Provencher were present. Sam Giarrusso and David Kelley were not present. There is one vacant Group II trustee position. Ms. Kris Ford, Ms. Dessy Leintz, and Mr. Brett Nelson of Ennis Knupp + Associates (“Ennis Knupp”) were present as investment consultants to the New Hampshire Retirement System. The Investment Committee meeting began at 11:05 am. Supporting documentation for the items listed below is maintained on file and available for review at the New Hampshire Retirement System’s (“NHRS” or “System”) administrative office. Items requiring Committee discussion or action: I.1. Approval of the June 12, 2007 Investment Committee Minutes Motion to accept the Investment Committee minutes: Motion: Representative McMahon Second: Senator Janeway Motion passed with unanimous approval. I.2. Investment Consulting Workplan Update Ms. Ford presented a review of the 2007 investment program accomplishments, including the review of the fixed income portfolio structure; the implementation of an international equity index fund; and the commencement of the alternative investment portfolio review. In addition, Ms. Ford outlined the proposed initiatives for the first half of fiscal year 2008. These projects include revisiting the asset liability modeling study in light of recent legislative changes; presenting conclusions of the alternative investment portfolio review; and evaluating current and potential fixed income managers. The presentation was placed on file at the NHRS office. I.3. Alternative Investment Review I.1. Investment Committee Minutes - July 10 2007.doc
  2. 2. Mr. Nelson presented an overview of the report. Motion to enter non-public session for the purpose of reviewing confidential financial information in accordance with RSA 91-A:3, II(d). Motion: Mr. Morrissey Second: Representative McMahon Motion passed with unanimous approval. Motion to conclude non-public session. Motion: Ms. Provencher Second: Mr. Morrissey Motion passed with unanimous approval. The document was placed on file at the NHRS office. Motion to delegate authority to NHRS staff and Ennis Knupp for continued due diligence and determinative action relative the interest held by NHRS in an alternative investment. Motion: Senator Janeway Second: Mr. Morris Motion passed with unanimous approval. Informational Items: The following informational items were placed on file at the NHRS office. II.1. Investment Performance for the fiscal-year-to-date May 31, 2007 II.2. Crescendo IV limited partnership update [confidential] II.3. Institutional Capital Corporation – firm update Motion to adjourn the July meeting of the Investment Committee: Motion: Mr. Martins Second: Representative McMahon Motion passed with unanimous approval. The meeting was adjourned at 12:30pm. I.1. Investment Committee Minutes - July 10 2007.doc

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