BANKING-3460 - USA (Delaware) - Investment Management Services - Deadline September 2,2021

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: BANKING-3460

Government Authority located in Delaware; USA based organization looking for expert vendor for investment management services.

[A] Budget: Looking for Proposals

[B] Scope of Service:

Vendor needs to provide investment management services to the government authority located in Delaware.
- Investment Strategy
The investment policy of the Health Benefit Plan has been developed from a comprehensive
evaluation of alternatives considered by the Trustees. This policy represents a consensus of
input from trustees, financial and actuarial consultants, investment advisors and legal
- Among the factors considered in the development of this investment policy are:
- Primary Investment Goal
- Rate of Return Objective
- Investment Risk
- Investment Time Horizon
- Asset Allocation
- Investment Requirements and Prohibitions
- Primary Investment Goal
The goal of the Health Benefit Plan is to provide, protect and enhance the economic well being of employees, retirees and beneficiaries through effective management of the Plan based on sound actuarial principles and available resources consistent with applicable laws. Consistent with this objective, the goal of the investment policy is to preserve the capital of the Plan and maximize investment earnings in excess of inflation with acceptable levels of volatility. This objective will be achieved through an investment strategy which combines the need to maintain a long term horizon in making investment decisions with acceptable levels of volatility.
- i. Provide all transactional functions related to the daily management of the investment portfolio pursuant to the specific stated investment objectives and Investment Policy of each individual fund. In performing the services described herein, the Proposer shall have discretionary authority to purchase or sell publicly-traded securities for the investment portfolio (including discretion with respect to amount, timing, and selection of broker or dealer), provided that such discretionary authority is exercised pursuant to the specific stated investment objectives and Investment Policy of each individual fund and in accordance with the investment objectives, policies and restrictions adopted by the Authority and with applicable provisions of the Trust Agreement.
ii. Provide monthly reports detailing by fund, the portfolio investments, composition, changes, returns, valuations, ratings of investments and other industry information which is necessary and appropriate to monitor fund compliance and performance.
iii. Provide detailed and summarized monthly reports by fund showing the following for each investment; the amortization/accretion information, amortized purchases and sales and any realized gains and losses.
iv. Review and recommend modifications to the Investment Policy and written procedures as requested or appropriate.
v. Develop and implement investment strategies that will seek to enhance portfolio performance within the parameters of each individual fund’s investment policy and cash flow needs.
vi. Provide semi-annual or annual reporting and presentations of portfolio performance to the Commissioners and applicable plan fiduciaries as requested.
vii. Serve as a resource to staff and/or the Commissioners and applicable plan fiduciaries for information regarding treasury and other investment-related operations and information and advice regarding economic outlook and market conditions.
viii. Attend meetings with staff and the Commissioners and applicable plan fiduciaries upon request.
b) The Investment Manager shall provide analytical and support services for financial planning efforts associated with the Authority's long-term operating and capital budget requirements.
i. Assist in the development of long-range investment modeling and plans designed to meet organizational operating and capital needs.
ii. Provide ongoing support, assistance and advice concerning various financial issues and engagements.
iii. Perform other services as needed with relation to investment analysis and advice as requested.
Fiduciary Standards of Care
The Investment Manager shall be subject to all accompanying fiduciary duties, standards of conduct, and all other applicable state and federal regulations. In addition, the firm shall practice the following standards of care throughout the term of the agreement:
a) All investments shall be managed in accordance with applicable laws, trust documents, and corresponding Investment Policy.
b) The Investment Manager, as fiduciary, shall be aware of its duties and responsibilities at all times
c) The Investment Manager and parties in interest shall not be involved in self-dealing.
d) The Investment Manager’s service agreements and contracts with third parties, if any, shall be in writing, and shall not contain provisions that conflict with fiduciary standards of care.

[C] Eligibility:

- Onshore (USA Organization Only);

[D] Work Performance:

Performance of the work will be Offsite. Vendor needs to carry work in their office location.

Expiry Date : Thursday, 2 September, 2021

Category : Banking Services

Country : USA

State : Delaware

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