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<br /> <br />Investment Activities <br />Management Discussion and Analysis -Continued <br />May 12, 2009 <br />Investment income is vital to the Plan's current and continued financial stability. Therefore, the Board of Trustees has a fiduciary <br />responsibility to act prudently when making Plan investment decisions. Portfolio performance is reviewed quarterly by the Board <br />of Trustees. The Association also has an active Investment Committee to broaden its attention to asset allocation and fund returns. <br />Economic Factors <br />' The primary function of the pension trust is to (a) appropriately award and pay benefits and (b) manage investments. The <br />opportunity available considering various investment choices is invaluable in the asset allocation and money manager ove <br />Contacting the Plan's Financial Management <br />The fmancial report is designed to provide citizens, taxpayers, plan participants and the marketplace's credit analysis with <br />overview of the Plan's finances and the prudent exercise of the Board's oversight. If you have any questions regarding thi <br />or need additional fmancial information, please contact the Elk River Fire Relief Association, 13065 Orono Parkway, Elk <br />Minnesota 55330. <br />rsight. <br />an <br />s report <br />River, <br /> <br />1 <br /> <br /> <br /> <br />n <br /> <br /> <br /> <br /> <br /> <br />