Duxbury finance director and Rockland Trust report steady returns and explain portfolio constraints
June 02, 2026 | Duxbury, Plymouth County, Massachusetts
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Duxbury’s finance director and investment managers from Rockland Trust presented the town’s trust-fund portfolio to the Select Board on June 1, describing allocation goals, returns, fees and constraints imposed by Massachusetts law.
Finance Director Mary McKinnon said the accounts managed by Rockland Trust cover a range of restricted funds — scholarships, cemetery funds, community preservation and similar trust and agency accounts — and that the pooled balances are ‘‘just north of $40 million’’ as of the March statement provided to the board. Rockland Trust’s Brian Callow summarized the portfolio approach: safety and liquidity are prioritized for funds that may be called upon in the short term; other funds (for long-term liabilities such as OPED/pension reserves) may be more heavily weighted to equities to pursue growth.
The presenters described a set of model portfolios used across the town’s accounts: a balanced portfolio (roughly a 55/45 split of stocks and bonds), a more conservative health-trust portfolio concentrated in fixed income (a ‘‘sleep-at-night’’ reserve), and a more aggressive OPED allocation intended for long-term growth. Rockland reported an inception-to-date return for a moderate portfolio of about 6.56% (gross of fees) and said the firm’s fee to the town is 0.29% of assets.
Board members pressed on options to increase returns, particularly for the health trust that helps set employee rates. Rockland Trust cautioned that higher equity exposure brings volatility and scenario risk; managers offered to work with staff to run scenario analyses if the board wants to explore modest allocation shifts.
Several board members requested that the slide deck be shown live during presentations in the future and that a redacted version (with account numbers removed) be posted on the finance department web page so residents can follow along.
The presentation did not change policy; Rockland Trust and town staff will follow up on requested analyses and post materials for public access.
Finance Director Mary McKinnon said the accounts managed by Rockland Trust cover a range of restricted funds — scholarships, cemetery funds, community preservation and similar trust and agency accounts — and that the pooled balances are ‘‘just north of $40 million’’ as of the March statement provided to the board. Rockland Trust’s Brian Callow summarized the portfolio approach: safety and liquidity are prioritized for funds that may be called upon in the short term; other funds (for long-term liabilities such as OPED/pension reserves) may be more heavily weighted to equities to pursue growth.
The presenters described a set of model portfolios used across the town’s accounts: a balanced portfolio (roughly a 55/45 split of stocks and bonds), a more conservative health-trust portfolio concentrated in fixed income (a ‘‘sleep-at-night’’ reserve), and a more aggressive OPED allocation intended for long-term growth. Rockland reported an inception-to-date return for a moderate portfolio of about 6.56% (gross of fees) and said the firm’s fee to the town is 0.29% of assets.
Board members pressed on options to increase returns, particularly for the health trust that helps set employee rates. Rockland Trust cautioned that higher equity exposure brings volatility and scenario risk; managers offered to work with staff to run scenario analyses if the board wants to explore modest allocation shifts.
Several board members requested that the slide deck be shown live during presentations in the future and that a redacted version (with account numbers removed) be posted on the finance department web page so residents can follow along.
The presentation did not change policy; Rockland Trust and town staff will follow up on requested analyses and post materials for public access.
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