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Page 5 of 6 <br /> <br /> <br />The second portfolio (Capital Growth) addresses the longer-term pension liabilities with an <br />initial investment of $21.3 million. The focus of this portfolio is to earn a higher rate of return <br />over the next 10 years or so before the City needs to draw upon it. <br /> <br /> <br /> <br />The Capital Growth portfolio balance was $31.6 million at the end of June 30, 2024, an <br />increase of $0.4 million from the prior quarter. The Capital Growth portfolio quarterly <br />investment return was 1.35 percent, and the five-year annualized return was 7.66 percent. <br />Page 287 of 454