Specifications include, but are not limited to:. The Investment Manager will directly manage all of the fixed income portfolio assets and will work closely with the State Treasurer and Investment Deputy to monitor the portfolios with the goal of meeting or beating an assigned benchmark.
The State Treasurer’s Office (STO) is issuing this Request for Proposal (RFP) from qualified firms to provide management services for the Prepaid Tuition Portfolio. Specific requirements for the portfolio are listed in the Investment Policy and Nevada Revised Statutes (NRS 353B.160).. Initially:
Meet with State Treasurer and staff to discuss overall risk tolerance and target duration.
Provide a detailed draft plan for the transfer of securities (if applicable) and initial portfolio construction prior to receipt of securities and/or assets.
Review of Respondent’s pre-approved list of corporate issuers.
Invest the separately managed account (SMA) on a discretionary basis within the parameters of applicable Nevada Revised Statutes, applicable portfolio Investment Policy and State Treasurer direction. The State Treasurer reserves the right to review and provide direction on eligible issuers, and to provide direction on maximum maturities and other matters depending upon the market conditions and STO’s risk tolerance.
Monitor and send trade/transaction settlement information to the State’s custodian.
Provide the State Treasurer with a brief explanation/justification of buys and sells which are considered exceptions to the norm.
Monitor credit exposure and credit rating, and immediately contact the State Treasurer via telephone to report material events which affect the SMA. Be prepared to follow up with a detailed plan of action for any securities that are not in compliance with Nevada Revised Statutes and the Investment Policy Statement.