The vendor is required to provide objective, third-party advice and counsel that will enable the county to make well-informed and well-educated decisions regarding the investment of the retiree healthcare trust system’s assets.
1. Development of investment policy, objectives and guidelines
• Assist the county in the development and periodic review of a policy statement that properly reflects the county’s tolerance for risk and that best helps the county meet its rate-of-return, funded status and administrative expense objectives.
2. Asset allocation studies
• Conduct an asset allocation study (IES) to determine whether the current asset allocation falls within the county's investment objectives and guidelines.
3. Investment manager search
• When deemed necessary, assist the county in its due diligence and search for new investment manager(s) utilizing the appropriate data base.
4. Development of investment manager performance standards/guidelines
• Assist the county in the development and review of performance standards and guidelines with which the county can measure each investment manager's progress
• . Attend monthly meetings or special meetings as requested by the county.
5. Performance measurement & monitoring
• Monitor the performance of the investment manager(s) to provide the county with the ability to determine the manager’s progress toward achieving the county’s investment objectives.
6. Monitor compliance with act 314
• Monitor the investment of the retiree healthcare trust system’s assets consistent with the limitations under state public act 314 of 1965, as amended, with written quarterly reports submitted to the county.
7. Assist in fund diversification
• Assist the county in the development of an investment structure that provides adequate diversification with respect to the number and types of investments/managers to be retained by the county.
8. Historical information related to specific holdings
• Provide information regarding the holdings, sale and purchase of specific equities in order to complete proof of claims related to securities litigation.