Zachary Zwick, an investment representative from 3 Bearings, reviewed Hooksett's common capital reserve fund and common trust funds at a trustees meeting and said the portfolios are close to target allocations and produced modest recent returns.

In a presentation to the Hooksett Trustees of Trust Funds, Zwick reported a three-month net time-weighted return of 2.3% for the common capital reserve fund and a 12-month return of about 6.5%. He said the fund's allocation is roughly 15% equities and 85% bonds and that the firm's strategy is constrained by state RSAs to high-credit-quality domestic securities: "we go by the RSAs that are currently on the books" and that restricts investments to "high credit quality domestic equities and high credit quality, domestic bonds," he said.

The trustees discussed upcoming withdrawals the town had requested. Zwick listed scheduled CRF withdrawals and other account distributions by line item: town building maintenance $267,453; DPW vehicle $20,500; canine trust $308; and an "emergency bridal communications" item of $8,660. He said some cash on hand will be used to satisfy those withdrawals and the portfolio will be rebalanced back to target after distributions.

Zwick described the common trust funds as having a higher equity target (about 25%) and being structured to produce income for spending. He said those portfolios favor dividend-paying, income-oriented stocks rather than large growth technology names, and projected roughly $9,085 in distributable income over the next 12 months for the trust funds.

Trustees asked whether the reports could be shared publicly. Zwick said the investment reports contain no sensitive account information and are suitable for publication: "these reports should be publicly available to the taxpayers if they wanted to see them." Trustees agreed to post the reports on the town website and to include a brief summary in the meeting minutes.

Trustees asked questions about duration and bond positioning. Zwick said the firm shifted some holdings toward intermediate-term bonds this year to increase potential upside if interest rates fall: "if you go out in duration ... you're gonna have more upside when interest rates start to come down." He also noted uncertainty in macroeconomic data and the Federal Reserve's path and described current equity valuations as high relative to historical averages.

No formal motions or votes were recorded on investment policy or withdrawals during the presentation. The trustees said they would include a short summary of the presentation in the minutes and post the full reports online.

Zwick left printed copies of the reports for the trustees and offered to answer further questions by phone or email.