The vendor is required to provide investment management services for include:
1. Appointment
a. Staffing:
• Manager shall act under the authority and approval of chandler's chief financial officer or designee, who shall assist manager with any necessary information, audit billings, and approve payments.
2. Manager’s responsibilities
a. Research, supervision, monitoring and evaluation
• Manager shall provide investment research and supervision of the accounts. manager shall continuously monitor investment opportunities for the accounts and shall continuously evaluate the investment of the accounts.
b. Investment and reinvestment.
• Manager shall ensure that the accounts are invested in compliance with the policy, as determined at the time of purchase of an investment.
• Manager shall be responsible for any losses incurred by chandler arising from a violation of the previous sentence.
• The manager shall receive no soft dollar benefit for any transactions placed on behalf of the account.
• Unless otherwise specified in writing by chandler to manager, all orders for the purchase and sale of securities for the account shall be placed in such markets and through such brokers and dealers for execution, at such prices as in the manager's best judgment shall offer the most favorable execution of each transaction, the determination of which may take into account, subject to any applicable laws, rules and regulations, whether statistical, research and other information or services have been or will be furnished to the manager by such brokers and dealers.
• Manager is authorized, as an agent of chandler, to give instructions to custodian as to deliveries of securities and payments of cash for the accounts.
• Manager shall not take possession of or act as custodian for the cash, securities, or other assets in the accounts and shall have no custodial responsibility for such assets or accounts.
• Manager shall take into account, and may rely upon, chandler's written advice concerning anticipated need to make cash withdrawals from the accounts.
c. Prudent investor standard applies
• In investing and managing the managed assets, manager shall exercise the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent investment expert, would use in the conduct of an enterprise of like character and with like aims.
d. Books, records, reporting, and certification.
• Manager shall keep accurate books and records relating to transactions made with respect to the accounts.
• No less than monthly, manager shall provide chandler with written appraisals of the accounts valued as of the last business day of the month, together with performance tabulations and a summary of purchases and sales within three business days of month end.
• Manager shall furnish such additional information to chandler about the accounts as chandler may reasonably request in writing from time to time.
• To the extent necessary to ensure the accuracy of the accounting and investing of the managed assets, manager shall permit chandler to inspect manager's books and records during regular business hours relating to the account upon advance written notice of at least 10 business days.
e. Specialized services
• Manager shall provide chandler with specialized services concerning the foregoing, including but not limited to conducting research or writing papers relating to investment strategies or philosophies, new investment vehicles or structures, economic conditions, portfolio management issues pertaining to an investment style or product, conducting educational presentations to chandler, and providing general investment literature.
f. Disaster recovery program
• Manager shall maintain a disaster recovery program designed to mitigate the impact of natural disasters and other acts, events or circumstances that may prevent it from complying with its other obligations under this agreement.
- Contract Period/Term: 4 years
- Pre-Proposal Conference Date: May 19, 2025