To All, Attached you will find the third quarter performance report for Deferred Compensation. Best Regards, John [cid:AC_logo-150ppi_b0554e81-2d50-477d-8264-0219cbd8ac34.png]<http://www.alachuacounty.us/Pages/AlachuaCounty.aspx> John Carnell Risk Manager Risk Management 12 SE 1st Street 3rd floor * Gainesville * FL * 32601 352-264-6967 (office) * 334-651-9859 (mobile) * 352-381-0168(fax) [cid:Home2_44a3d51e-b983-4237-8082-72394e0032c7.png]<http://www.alachuacounty.us/Pages/AlachuaCounty.aspx> [cid:fb_logo_150ppi_9dd00851-99d8-4342-8932-10cac01030c6.png] <https://www.facebook.com/AlachuaCounty/> [cid:twitter_150ppi_9c3d56ae-20c9-4509-b852-4aaed5522edd.png] <https://twitter.com/alachuacounty> [cid:insta_150ppi_5be81f1b-b06b-49ca-b309-54edd0545f55.png] <https://www.instagram.com/alachuacounty/> [cid:youtube_150ppi_0da7ed3a-56a8-459c-b04c-ed8dfa1a388a.png] <https://www.youtube.com/user/alachuacounty> [cid:county_news_150ppi_14250fe5-78c3-4aa5-b059-283cc85fd4ea.png] <http://www.alachuacounty.us/depts/communications/pages/updatenewsletter.aspx> PLEASE NOTE: Florida has a very broad public records law (F.S.119). All e-mails to and from County Officials and County Staff are kept as public records. Your e-mail communications, including your e-mail address, may be disclosed to the public and media at any time. From: Paul Murray <[log in to unmask]> Sent: Friday, November 11, 2022 4:00 PM To: John Carnell <[log in to unmask]> Cc: Shaney Livingston <[log in to unmask]>; Todd Hutchison <[log in to unmask]> Subject: Alachua County Defined Contribution Plans - Q3 Investment Review CAUTION: This email originated from outside your organization. Exercise caution when opening attachments or clicking links, especially from unknown senders. Hello John - Attached is the Q3 2022 Investment Review for the Defined Contribution Plans. There are no funds changes recommended at this time. Domestic stocks and bonds were both down approximately 5% for the quarter and 15% for the 12-month period that ended on 9/30/2022. International equities fared even worse (down nearly 10% during the quarter and 25% or more for the 12 months that ended on 9/30/2022) given the strong US dollar and ongoing geopolitical events. Most of the themes from the prior two quarters remained - the Fed continues to raise interest rates to combat inflation and global events continue to disrupt supply chain and energy prices. The US housing market has begun to cool down due to the rapid increase in mortgage rates, which have doubled from 3% to 7% year-to-date. Value stocks declined more than growth stocks during the quarter. The growth / technology stocks that have been leading the markets over the last 24 months fell off significantly in 2022, and defensive stocks in the Consumer Discretionary, Health Care and Energy stocks continue to perform well on a relative basis. Domestic stocks rebounded 8-10% during the month of October, which improves the ytd returns. I would be happy to meet with you virtually or in person to review the report. Please let me know and share some dates for me to consider and I will try to accommodate your schedule. 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