Specifications include, but are not limited to: The investment management firm(s) will be selected to manage the investment mandates for the applicable portfolio(s) on a discretionary basis for a period of four (4) years. Services to be provided include: 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. Daily: 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. 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 applicable Portfolio Investment Policy Statement. Be available to answer questions of STO as needed. Provide weekly SMA account statistics for the previous Friday to include duration and yield. Monthly: 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. Provide the respondents listing of corporate issuers approved for use monthly.
