With a volatile market in the first quarter of 2016, the $30-plus million investment from the sale of Baptist Memorial Hospital-North Mississippi bounced back with a 1.5 percent gain since April 1.

On Tuesday, representatives from Glenmede Investment Group, which is handling the city’s fund, presented the quarterly report to the Oxford Reserve and Trust Fund Committee. The fiscal year for the investment fund runs from April 1 to March 31.

The value of the fund as of March 31 was $32,786,054, down from $33.7 million in January. However, as of June 30, the fund was valued at $33,344,192, a 1.5 percent return for the first quarter of the fiscal year.

John Church, with Glenmede, said as of Monday, the fund has increased slightly more and was valued at 33,713,151.

Since its inception, the fund has earned about $5.8 million, including any withdrawals for payments and the annual 3 percent payout to the city of Oxford that goes into the city’s general fund to help fund a variety of projects.

The fund’s long-terms goals, set up by the committee, are capital preservation and real growth after inflation, about 2.5 percent, and the annual 3 percent payoff.

“We think you’ve handled it very well through some choppy waters,” Patterson said. “We’re plugging holes every year with this money.”

Part of this year’s revenue will go toward a cost of living raise for city employees, Woodlawn Park, projects at FNC Park, bond repayment and more.

Glenmede is instructed to try to grow the fund enough to allow for annual payouts, but to do so in a conservative fashion as to not risk losing the initial $30 million investment. The fund is a moderately low-risk investment, according to Glenmede.

Church said the economy overall looks good, slowly going up in a positive manner.

As of June 30, 37 percent of the assets are allocated to equities, 59 percent are allocated to fixed income, and 4 percent is allocated to cash.

The top 10 holdings in the equity portfolio include Johnson & Johnson, Cisco Systems, JP Morgan Chase and Co., Oracle Corp, Omnicom Group, Dr. Pepper Snapple Group, Wal-Mart, Exxon Mobile, Pfilzer Inc. and the Chevron Corporation.