Investment Advisory Board; Request for Proposals for Manager of Managers Investment Services [39 Pa.B. 3042]
[Saturday, June 20, 2009]The Supreme Court of Pennsylvania, through its Investment Advisory Board (IAB), plans to issue a request for proposal (RFP) for investment services. The RFP will cover the investment operations of four court-appointed boards operating independently of each other, within the purview of the Supreme Court. The Supreme Court has consolidated the investment activity of the boards to maximize overall investment returns, reduce investment costs and increase operating efficiencies. The purpose of this notice is to determine your firm's interest in responding to the soon-to-be-released RFP for a manager of managers.
The Manager of Managers services being sought include the following:
* Consistent with the approved investment policy, manage the consolidated investment portfolio on a discretionary basis to outperform relevant benchmarks.
* Provide monthly, quarterly and annual reports to the IAB on net investment performance of the consolidated investment portfolio and its segments compared to relevant benchmarks.
* Make periodic recommendations to the IAB to include but not limited to modifications of the current investment policy, strategy and asset allocation.
The consolidated portfolio size ranges between $20--30 million. Source of funds are attorney assessments and fees for service. Offices of the four boards are located in the Harrisburg, PA area.
Persons interested in receiving a copy of the RFP should contact by letter the Administrative Office of the Pennsylvania Courts, P. O. Box 719, Mechanicsburg, PA 17055, Attention IAB-RFP or IAB-RFP@pacourts.us, by July 13, 2009.
MANUEL STAMATAKIS,
Chairperson[Pa.B. Doc. No. 09-1101. Filed for public inspection June 19, 2009, 9:00 a.m.]
