Investment Consulting Services

The vendor is required to provide that investment consulting services for the treasury pool and other university financial assets in a fiduciary capacity.
- Provide advice and recommendations on the design, development, implementation, reporting and monitoring of the investment assets to the treasurer as well as the investment advisory committee (IAC).
- The treasury pool has the following investments:
• Cash equivalents
• Domestic large capitalization equities
• Domestic mid- and small-capitalization equities
• International equities
• Global equities
• Domestic fixed income
• A commingled, endowment-like allocation managed by the university’s foundation
- The investment consultant shall have a fiduciary obligation as an investment advisor and will owe a duty to the regents of the university and the treasurer, its delegated fiduciary, to exercise reasonable care in providing investment advice.
- The investment consulting firm will be required to participate in and/or provide expert advice include, but are not limited to, the following:
• Development and maintenance of an annual checklist of portfolio-related tasks, including completion timeline and status updates.
• Investment policy and procedure annual evaluation: consultant will work with the university to develop a clear understanding of the university’s objectives and goals, and to ensure that this is translated into an appropriate investment policy statement (IPS) for the university’s review and approval
• The consultant shall monitor policy compliance and regularly communicate results to the treasurer and IAC, proactively review and communicate any recommended changes needed in the investment policy and assist the university with the review and updating of the operating guidelines accompanying the IPS
• Quarterly and annual manager performance evaluation and reporting including, but not limited to:
1) Measurement of total pool performance and investment returns of individual managers
2) Reconciliation of custodian and manager performance data differences in data are to be investigated and explained to treasury staff.
3) High level performance attribution
4) Composition and sector analysis
5) Comparisons to appropriate market benchmarks
6) Comparisons to appropriate manager peer groups
7) A summary of results of compliance monitoring against performance criteria outlined in the IPS, including a recommendation to terminate or retain
• Ongoing portfolio monitoring to include:
1) Periodic review and interviews of investment managers
2) Timely reporting of key investment staff, organizational and/or other changes that could have the potential to affect the strategy of the fund.
3) These changes are to be reported, in writing by e-mail or memorandum, to treasury staff, by the investment consultant, with a recommendation to terminate or retain.
• Investment manager search and selection including, but not limited to:
1) Defining the type of manager needed
2) Developing solicitation documents
3) Performing due diligence review of each manager
4) Preparing a profile summarizing the fundamental information about each manager
5) Receipt and evaluation of proposals and reporting of conclusions
6) Manager fee negotiations, as applicable
• Assistance with liquidity analysis and asset allocation optimizations on an annual basis, or more often if deemed necessary.
• Monitoring compliance with allocation targets on a quarterly basis and providing guidance on portfolio rebalancing to stay in compliance with the IPS/allocation targets, as needed
• Annual fee benchmarking survey and review, including comparisons with industry medians and research on the lowest fee structure available.
• Provide capital market projections: current and future market conditions that may affect portfolio risk and return
• Participation in the investment advisory committee meetings held in-person, approximately 6-7 meetings annually.
• Investment consultant shall assign a senior consultant who shall attend each of these meetings; the consultant will:
1) Provide objective and creative input, subject to his or her fiduciary duties in addition to other services described herein
2) Advise on strategic and tactical investment issues
3) Advise on management structure
4) Advise on additional asset classes
5) Advise on alternative investment products and vehicles
• Participation as needed in the university’s annual external audit
• Provide online or in-person training, certifications, and/or educational opportunities to IAC members and treasury staff on requested investment topics and fiduciary training.
• Provide adequate resources, including, but not limited to personnel and technology, to effectively communicate and present financial information to the treasurer and IAC members
• Provide other investment consulting services as requested.
- Contract Period/Term: 2 years
- Questions/Inquires Deadline: March 07, 2025