News Detail

Spring 2022



Dear Fund Members,

After ending Fiscal Year 2021 with a 33.7% rate of return, the Fund is off to a good start in 2022. Under board leadership, our investment team’s strategies maintain a diversified portfolio designed to protect against volatility such as that created by escalation of the Russia-Ukraine conflict. I believe we are well-positioned to weather the storm and outperform large pension funds in the state. Over the long term, our annual return is 11.8% over 5 years, 8.4% over 7 years, 9% over 10 years, and 8.2% over 15 years. Rest assured, the Fund is healthy and consistently maintains a level of liquidity to satisfy our obligations including your benefit payments.

We are excited to welcome our new executive director, Tim Schauer. Finding the right person for this position was a crucial responsibility for the board and we are confident in our selection. His extensive background in management, community leadership, and government relations directly support our mission. I would be remiss if I did not take this opportunity to express our appreciation for Ralph Marsh, our previous executive director, who recently retired after successfully leading the Fund with integrity and a genuine commitment for seven years. As you would expect, he went to great lengths to prepare HFRRF for the changeover and ensure a smooth transition for his successor.

It is an honor to continue my service on the Board of Trustees as your chairman and I am grateful for your continued support. Please join me in thanking all the trustees and HFRRF staff for their hard work and relentless dedication. We are all here for you, our members. Do not hesitate to contact me, other board members or HFRRF staff with your questions or concerns.

I’m looking forward to seeing our retirees at the BBQ on May 5th!

Brett Besselman
Houston Firefighters’ Relief and Retirement Fund