January 25, 2017 CITY OF FRESNO RETIREMENT SYSTEMS REGULAR JOINT MEETING OF THE RETIREMENT BOARDS

Two manager presentations on small cap growth and small cap value.

Consultant reviews of each small cap strategy.

Consultant work plan for pension plans in 2017.

Asset Allocation as of December 31, 2016

Asset Allocation from Northern Trust

Investment Manager Monitoring and Evaluation Review

NEPC Overview of Small Cap Growth Manager

NEPC Overview of Small Cap Value Manager

Performance Report from Northern Trust

Proposed Board Meeting Agenda Items

Small Cap Growth

Small Cap Value Presentation