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Page 5 of 6 <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 $32.9 million at the end of March 31, 2025, a <br />decrease of $0.4 million from the prior quarter. The Capital Growth portfolio quarterly <br />investment return was -1.16 percent, and the five-year annualized return was 10.92 percent. <br /> <br />Page 38 of 249