A. Investment Policies and Asset Allocation Structure 1. Conduct an annual comprehensive review and analysis of the Plan’s investment policies and recommend changes, if appropriate. The review should address investment objectives, asset allocation and management structure. 2. Assist in reviewing and updating a comprehensive written Investment Policy Statement for the Plan. 3. Assist in developing an appropriate investment management structure for the Plan and each asset class, which considers the role of active versus passive management, available management styles and the advisability of altering management structures under differing market conditions. 4. Provide assistance in analyzing the investment characteristics of available asset classes and the risk/return potentials of alternative asset mixes. 5. Coordinate with the Plan’s actuary to incorporate asset/liability needs of the Plan, actuarial assumed rate of return and capital market assumptions. 6. Advise in the development of guidelines and procedures for rebalancing the asset mix. 7. Provide the Board with information about new developments in investment management techniques and portfolio management theory. Analyze how new techniques might improve the Burlington Employees’ Retirement System Board's investment program and whether they should be, or should not be, implemented. 8. Assist, in collaboration with the City of Burlington, the Burlington Retirement Board, and the System’s actuarial consultant to develop, recommend, and help implement strategies to improve the Retirement System’s funded ratio.
