The vendor is required to provide investment management services includes:
• Assist the city in maintaining and enhancing its investment portfolio pursuant to the specific, stated investment objectives, including an annual review of the adopted investment policy; evaluate orders and recommend purchase and sale of securities and communicate settlement information with the city staff and assist in coordinating security settlement.
• Maintain and provide documentation to city staff for at least three (3) bids obtained where securities are purchased on a secondary market.
• Assist the city in identifying and selecting appropriate investment instruments within the range of permissible investments, as outlined in the city’s adopted investment policy.
• Maintain broker/dealer certification and perform due diligence on existing and new broker/dealers, as necessary.
• Serve as a general resource to the city staff for information, advice and training regarding fixed income securities, investments, and treasury operations.
• Assist staff with developing cash flow projections to ensure that the investment strategy consistent with the city’s cash requirements and provide recommendations for change.
• Assist the city in selecting and effectuating the purchase of specific securities; such assistance to include advice regarding recommended maturity dates and method of execution.
• Attend monthly meetings with the city’s chief finance officer; travel costs associated with these meetings shall be borne by the selected proposer.
• Provide quarterly investment reports for the city’s budget & chief financial officer, including a description of market conditions, investment strategies employed performance and suggested changes to investment strategy.
• Make a presentation to city staff, city committees or city councils, as requested by the city council or city staff.
• Assist in risk control to ensure the ongoing safety of the city’s assets not related to market risk.
• The investment management firm will not provide custodial services or security keeping.
• Provide city employees with free annual CPE training – minimum of eight (8) hours.
• Although the investment management firm will not provide custodial services or security safekeeping, they will recommend the selection of a custodian and agree that the custodian services fee will be paid through investment management.
- Contract Period/Term: 2 years
- A Virtual Pre-Proposal Conference Date: April 4, 2025
- Questions/Inquires Deadline: April 15, 2025