Investment Consulting Services

The Vendor is required to provide investment consultants to perform investment consulting services for the pension board.
- Advise on the asset allocation mix and other investment-related issues, including the addition or deletion of asset classes. 
- Provide guidance on whether agency have the appropriate diversification of funds within each asset class and as a whole.
- Prepare one asset allocation study per year, as requested by the Pension Board. An asset allocation study was completed in 2025.
- Perform an annual comprehensive investment analysis of all the investment managers.
- Perform, quarterly, with respect to the overall portfolio as a whole, by asset class, or by investment manager, an extensive analysis of the sources of return and nature of risks, including, but not limited to attribution analyses, value at risk, skewness, kurtosis, Sharpe ratio and other meaningful measures.
- Perform an attribution analysis by investment manager, explaining what contributed to the investment manager's gains or losses (e.g., security selection, asset allocation, market timing, etc.).
- Evaluate, calculate, monitor and review the performance of current investment managers and the assets overall and provide comprehensive performance reports on a monthly basis.
- Conduct investment manager searches, including organizing and attending due diligence trips, if applicable. Any such trips would be included in the flat fee proposal.
- Advise the Pension Board on when to terminate a relationship with an investment manager or when to put an investment manager on a watch list.
- Review the portfolio and the individual investment managers to confirm the assets are invested consistent with the investment policies and guidelines.
- Alert the Pension Board of any significant changes of investment manager personnel.
- Advise the Pension Board relating to issues with respect to performance of the investment custodian.
- Provide proxy voting reporting and recommendations regarding proxy voting policies and procedures.
- Review management fees and trading costs and analyze brokerage expenses annually. Include a breakdown of fees, costs and expenses paid to minority-, women- and disabled-owned firms.
- Increase the portfolio's efficiency by assisting in the evaluation of and reduction of managers' and others' fees.
- Provide recommendations concerning risk management strategies.

- Contract Period/Term: 3 years
- Questions/Inquires Deadline: December 10, 2025