HARTFORD, CONN (December 22, 2020) – Treasurer Cloud issued the following comments on COVID-19 and the status of operations of the City Treasurer’s Office.
Greetings, MERF Retirees and Active Members. I hope this note finds you and your families safe and well.
Although the COVID-19 pandemic continues to disrupt our daily lives, I am encouraged that our great front line responders to this crisis have begun receiving life-saving vaccines. It is also comforting to know that our most vulnerable family members, elderly citizens in nursing homes, are also now receiving vaccine, saving additional lives. Of course, given the disruption to our schools and everyday jobs, we still have a long way to go before the normal flow of life returns.
My office continues to coordinate closely with various states and local agencies with regards to a response to the virus.
Regarding our investments, my staff and I continue to closely monitor the financial markets in close coordination with our consultants and advisors. Specifically regarding the MERF, I am proud to inform you that its value recently exceeded $1.1 billion dollars, the highest level of my 11-year tenure as City Treasurer and one that has not been achieved since before the onset of the global financial crisis. Importantly, the portfolio has not only performed well, it is structured to continue to withstand the type of market volatility experienced during this difficult year.
Finally, I pledge the full resources of the City Treasurer’s Office towards getting us through this challenging time and I wish you and your families a happy and safe holiday season.
Thank you for your continued support,
Adam M. Cloud
Treasurer, City of Hartford