The Oxford Municpal Reserve and Trust Fund Board voted Tuesday to continue its relationship with investment firm Glenmede and attorney Robert Payne that manage the city’s $30 million investment from the sale of Baptist. (May 20, 2015, Page 1A)
The Fed’s stimulus announcement in June caused the returns of Oxford’s $30 million investment to dip ending the second quarter of the fiscal year with a -0.7 percent return.
However, the Fed shortly announced it changed its position and fixed income investments rallied allowing Oxford’s returns to jump back up to 2.1 percent gain in July. (August 1, 2013, Page 1)