Veritas Preparatory Charter School
Minutes
Investment Subcommittee Quarterly Meeting
Date and Time
Tuesday January 21, 2025 at 4:00 PM
Committee Members Present
A. Mendelson (remote), D. Ford (remote), M. Landon (remote), R. Martin (remote)
Committee Members Absent
None
Guests Present
N. Gauthier (remote), R. Romano (remote), S. Howard (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
M. Landon called a meeting of the Investment Sub-Committee Committee of Veritas Preparatory Charter School to order on Tuesday Jan 21, 2025 at 4:07 PM.
C.
Approve Minutes - October Quarterly Meeting
D. Ford made a motion to approve the minutes from Investment Subcommittee Quarterly Meeting on 10-22-24.
M. Landon seconded the motion.
The committee VOTED unanimously to approve the motion.
II. Investment Sub-Committee
A.
Veritas Investment Portfolio Update
III. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 4:48 PM.
Respectfully Submitted,
M. Landon
Documents used during the meeting
- 4Q24--Veritas Performance Monitor January 2025.pdf
- 01.15.25 Veritas Portfolio Weight Snapshot.xlsx
Investment Portfolio Performance
The investment portfolio has shown significant gains, with the total value increasing from $600,000 to approximately $654,000.
Market Outlook and Opportunities
A positive outlook was expressed regarding the broadening theme in the market, noting that much of the market outside top performers is relatively cheap after three years of underperformance.
Changes in Investment Positions
The portfolio recently sold out of an India ETF position due to headwinds from tariffs and currency issues, despite previous good returns.
Fixed Income and Cash Management Strategies
Discussion included strategies for managing fixed income and cash positions, with yields of around 5.8% achievable using agency paper from entities like the Federal Home Loan Bank.
Balancing Long-Term Growth and Liquidity Needs
The balance between long-term growth and potential liquidity needs was discussed, recognizing the original mandate for long-term growth without immediate liquidity needs.
Potential Future Uses for Funds
Potential future uses for the funds were discussed, including the possibility of using some money for teacher salaries or special programs.
Market Monitoring