Subject: PENSION FUND UPDATE - April 20, 2020
It has been two weeks since the last San Antonio Fire & Police Pension Fund update and our City, State and Country are still suffering the medical and economic hardships of the Corona Virus.
As of Friday 4/17/20 the Fund’s value was $ 3,077,000,000.00. Our Fund has increased in value $72 million dollars in the past two weeks.
That said, the markets are down today, Monday, and oil prices have fallen precipitously today, down to their lowest price per barrel in 34 years.
As mentioned previously, your pension fund takes less risk in its investments than the risk in the stock market.
As of Friday 4/17/20 we are down 9.0% for the calendar year and the S&P 500 is down 11.41%.
I have mentioned our Fund earned a positive 14.9% for the calendar year 2019, that return has increased to 15.0%, due to final market value returns continuing to come in from our less liquid investments. These investments do not report values daily like publicly traded securities.
I thank you for allowing me to play a small role in the governance of our pension system, and I will continue to provide updates during these very trying times.
Finally on an unrelated note, today, April 20, was the birthday of our oldest living SAPD officer, Sergeant Jimmy Gaffney, he is 97 years old today.
Regards, Harry Griffin