Overview: The balanced beam portfolio has held up well despite negative macro sentiment
driven by high inflation and rising rates.

The balanced beam portfolio has held up well despite negative macro sentiment driven by high inflation and rising rates. The committee is happy with the asset allocation and diversification of the portfolio.

The committee is considering more strategies that have low correlation to the broader equities market. The ones currently being used have provided a buffer to negative returns from broad equity funds.

The committee made no changes to the portfolio this month.