PERAC |
Regulation Number |
Investment Regulation/Supplemental Regulation |
April 24, 2006 |
21.01(3)(4)(5) |
The PIMCO Diversified Income Fund may use derivative securities, including U.S. and non-U.S. government futures, interest rate swaps, credit default swamps, options, and mortgage derivatives. The Fund’s statement of objectives allows unlimited use of such instruments, but actual use has never exceeded 15% of the Fund’s total market value and is not expected to appreciably exceed this level. The Board and its consultant are satisfied with PIMCO’s capability and experience in the use of such derivatives |
September 7, 2005 |
16.08 |
The Bristol County Retirement Board is authorized to invest in the BlackRock Apartment Value Fund III (AVF III). The board has been a satisfied investor in the predecessor fund, SSR Apartment Value Fund II, which is currently in a liquidation phase in which more than 100% of the Board’s investment is expected to be returned by the time of the first capital call for AVF III. The acquisition of SSR Realty by BlackRock has resulted in no substantive changes either in personnel or in strategy for this program. |
June 21, 2001 |
21.01(3)
|
The Bristol County Retirement System may utilize forward foreign exchange contracts with a gross value up to 60% of the international equity portfolio managed by Arrowstreet Capital, L.P. The purpose of these contracts is not to take or increase risk but to reduce risk by assuring that the portfolio’s currency position is in line with the MSCI-EAFE benchmarks. To offset the effect of equity holdings that may be higher or lower than the country percentage represented in the benchmark, offsetting long and short positions in foreign currency contracts will be used to bring the portfolio’s currency composition in line with the benchmark. |
May 7, 2001 |
16.08 |
In accordance with PERAC Investment Guideline 99-3, the Bristol County Retirement Board may invest in Charles River Partnership XI. The Board has been an investor in Charles River Partnerships VII, VIII, IX, and X and has submitted information on those investments as well as other required documents. |