Specifications include, but are not limited to: The requirements specified are designed to assist the Committee in submitting a proposal to the full College Board of Trustees that will best meet the needs of LCCC. A. General Information 1. Organization. The firm shall have: a. Demonstrated experience in managing assets; b. A low level of client turnover and evidence of controlled business growth; c. Not been involved in any major litigation surrounding investment management activities; d. An investment vehicle for a strategy that enables the College to properly balance the investment of restricted and non-restricted assets, within the funding needs of the organization. e. Appropriate licensing, registrations and insurance coverage. 2. Investment strategy. The firm shall have: a. A well-diversified investment strategy, including a proven track record of managing investment portfolios for organizations of similar structure using a total return approach to investing. b. The flexibility to meet the objectives of the College, as appropriate. 3. Performance. The investment options shall have: a. A verifiable track record that demonstrates consistent adherence to the stated investment b. Risk and return characteristics of historical data that are consistent with its role. B. Reports 1. Monthly reports a. The provider shall provide monthly statements to the Board of Trustees (including gains and losses) and/or its designees that contain the following information: 1. Beginning balance for the period (in dollar amount and number of shares); 2. Contributions and withdrawals for the period; (Account entries) 3. Earnings or losses for the period, including dividends/capital gains distributions that are reinvested; 4. Ending balance for the period (in dollar amount and number of shares); 5. Quarterly performance and benchmark information shall be presented to the Audit, Finance Committee by a representative of the provider; 6. Any other information reasonably required by the Board. 7. Fees or commissions charged to the account(s) and the break- down and explanation thereof...
