City counts $1.2M from hospital investment after year one
Published: May 5,2013
OXFORD — The city of Oxford’s investment of the proceeds from the sale of Baptist Memorial Hospital-North Mississippi has earned about $1.2 million its first year.
The city hired Glenmede in 2012 to handle the investment of the money.
The Oxford Eagle reports the market value as of March 31 was $32 million. It was $30 million when Glenmede received the funds. The fund’s fiscal year ended March 31.
The city will soon receive the first payment from the full trust fund balance, minus the expenses of the trust administrator. The first payment will be $962,938. About $140,000 of that money is already obligated for a bond repayment.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “City counts $1.2M from hospital investment after year one”
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Mad Genius, Eyevox owner acquires Mississippi Film Studios
- UPDATE — David Watkins says JRA left him in dark about HUD's Farish St. involvement
- Grain buyer’s bankruptcy could take steep toll on Delta farmers
- Payday lender, fired executive exchanging blame for lender’s regulatory woes
- UMMC reaching out after death of high school football player
- Mississippi no longer has highest unemployment rate in nation
- Report: Mississippi has worst child poverty rate in U.S.
- UPDATED: Jackson agrees to repay HUD $1.5 million for Farish Street blunders
- Fitch gives Mississippi Power a negative outlook due to Kemper plant