The selected low volatility equity firm(s) will invest Board funds in an amount to be determined across the above-described strategies. The low volatility equity firm(s) will specifically: 1. Provide monthly reporting in a format(s) required by the Board, general consultant, and custodial bank. 2. Provide daily liquidity (as needed) for the Board’s funds as part of our cash management processes. 3. Invest the Board’s funds with minimal tracking error to the underlying benchmark(s). 4. Comply with all investment restrictions as required by law, ordinance, or Board policy (e.g., Sandy Hook Principles). 5. Achieve all investment objectives in a low-cost product(s). The firm(s) may also be asked to provide other services as required by the Board Trustees and/or the Investment Staff. The selected firm(s) will report directly to the Board, working closely with the Board and the Investment Staff. The firm(s) will serve in a fiduciary capacity, acknowledging in writing the firm’s fiduciary status without qualification, and providing service to the Board in conformity with the Board’s policies and in the interest of the System’s participants and beneficiaries.
