In accordance with Florida Statute 112.664, Governmental Accounting Standards Board (GASB) Statement Numbers 67 and 68, the following is hereby provided:
Fiscal Year Ended September 30, 2015 Compliance Statement
FYE 2015 Aggregate Fixed Income Factsheet FYE 2015 Disciplined Value Factsheet (net)
The performance of the accounts from inception, June 11, 2013 with Manning & Napier through January 31, 2016 are as follows:
Indian River Shores Firefighters & Police Officers Pension Fixed Income 2.2% Indian River Shores Firefighters & Police Officers Pension Disciplined Value 6.54%
Fact sheets that show five year performance for each of the composites.
The asset allocation is 60% Equity and 40% Fixed Income.
While past performance cannot guarantee future results, an estimated long term return (30+ year) of 8%-10% for the equity portion and 2%-3% for the fixed income portion is reasonable.
John Mann III, CPA, Vice President/Client Consultant - Manning & Napier