Specifications include, but are not limited to: Invest the separately managed accounts (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 any SMAs. ; Provide investment detail report which includes holdings, interest received, realized gains/losses/ amortization and accretion, all buys/sells, etc. Provide detail performance report versus the agreed upon benchmark. Be available for conference calls to discuss investment program, including investment strategy and performance, economic and market conditions, and other investment related information. Be available to provide detailed information on the agreed upon benchmark, as needed. Provide a monthly stress test which provides the value of the portfolio utilizing interest rate changes which are representative of the various potential market environments. ; Compile separate detail reports for STO. The detail report is a comprehensive investment, analytic, and performance report. Be prepared for a call with the State Treasurer and Investment Deputy to discuss any or all aspects of the quarterly report.