Wayland Trust Fund Commission reviews $4.16M portfolio, trims adviser updates

WAYLAND — October 24, 2022 — Wayland Trust Fund Commission reviews $4.16M portfolio and moves to consolidate trust records with the town. Meeting chair Nicole Sissel, with members Adam Gutbezahl and Barry Rothschild, heard a quarterly update from Kathleen Glowacki and Brian Jamrose of Bartholomew showing the fund at roughly $4.16 million as of Sept. 30 and about $4.18 million in October. Calendar-year performance was down about 21 percent, against a global equity benchmark off 26 percent and a bond index down 15 percent, but the portfolio has returned an annualized 4.74 percent since 2013. Alternatives — Blackstone Real Estate, AMG and Partners — comprise more than 15 percent of holdings and have "really helped" buffer losses, Glowacki said. The commission agreed to shorten routine quarterly updates to 15 minutes and to ask Treasurer Lily to take custody of original trust documents covering the Swain, Norwich, Gossels and Draper funds. Members adjourned unanimously at 4:45 p.m.