General • Prepare reports and analysis including reviewing and updating CTPF investment policies, criteria, and objectives; • Make annual recommendations for amendments or modifications to the CTPF’s portfolio structure with justification as warranted by the marketplace and the Fund’s unique constraints; • Assist in the formulation and review of investment goals, objectives, and policies. • Assist in the development and review of procedures and guidelines for the Fund’s investment programs; • Meeting attendance at the Fund’s monthly Board Meetings, First Look meetings, and Investment Committee meetings as required and with staff as required; • Research and recommend the use of investment advisers as directed by the Board of Trustees. Performance and Manager Monitoring • Perform ongoing review of portfolio performance (net and gross of fees), the underlying investments, and the investment advisers. Perform routine due diligence on current investment advisers (at a minimum annually). • Evaluate investment adviser performance in terms of effective implementation of investment strategy, performance versus established benchmarks, organizational stability, peer reviews, and adherence to the investment management agreement, including investment guidelines. • Identify current or anticipated underperformance within the portfolio, recommend corrective action, and participate in implementing the recommendations. • Provide the Fund with routine due diligence and performance reports on investment advisers, particularly with regards to personnel, performance, infrastructure, and strategy. Performance Measurement and Reporting • Prepare and present written and verbal, monthly and quarterly summaries of investment adviser activities and performance to the Board of Trustees; • Provide written summaries and notes of due diligence meetings with investment advisers; • Calculate investment performance (net and gross of fees) at the total fund (if applicable), asset class, investment style, and adviser levels; • Provide monthly and quarterly performance to the Fund’s staff and Board of Trustees within a reasonable timeframe that is mutually agreed upon; • Present to the Board of Trustees a quarterly performance report with the total Fund, asset class and each individual investment advisers’ gross and net performance. Manager Research and Selection • Upon approval from the Board of Trustees, conduct a search necessary to fill a need in the investment portfolio (e.g. termination of a manager or addition of a new mandate to the portfolio) utilizing the firm’s investment manager database resources, which is to include, in accordance with the Fund’s MWDBE Policy, investment advisers that are minority, women, and/or disabled; • Assist in the preparation of investment adviser and transition manager RFPs, review of candidates that meet the Fund’s criteria, and identify finalists to be presented to the Board of Trustees.
