HARTFORD CITY TREASURER ADAM CLOUD STATEMENT ON MERF VALUATION
HARTFORD, CONN (August 13, 2020) – Treasurer Cloud issued the following statement regarding the MERF Portfolio Market Value.
On August 10, the MERF’s investment portfolio was valued at one billion, sixty one million dollars, representing a post-Global Financial Crisis high. This valuation reflects a sharp rebound back over the billion-dollar valuation mark that was last reached before the onset of the COVID-19 pandemic. As I had communicated at that time, our prudent investment approach incorporating conservative positioning and an emphasis on liquidity, diversification and opportunistic risk taking would continue to serve us well. To date, I am pleased to report that this approach has helped the MERF withstand the historic market turbulence of the last six months. We will maintain this approach as we seek to ride out the remainder of this unprecedented crisis. I am proud of this accomplishment and credit the Pension Commission, my investment team and the continued funding provided by the City and our employees in helping to achieve this result.