Specific responsibilities of the selected investment manager will include, but not be limited to the following: 1. Effectively manage on a daily basis the City’s separate investment portfolios pursuant to the specific, stated investment objectives and cash flow needs. 2. Place orders for the purchase and sale of securities, communicate settlement information to the City’s staff, and coordinate security settlement. 3. Serve as the general resource to City staff for information, advice, and training regarding securities and investments. 4. Work with the City staff to understand cash flow projections to ensure that the investment strategy is consistent with the City’s liquidity requirements. 5. Provide monthly statements with all the information required by the Arizona Revised Statutes and Governmental Accounting Standards Board (GASB). The reports must include a mark-to-market valuation. The selected investment manager must maintain accurate reports of investments including the diversity of investments and compliance with the applicable investment policies of the City and the State of Arizona statutes. 6. Provide year-end GASB Statement 40 “Deposit and Investment Risk Disclosures” disclosure information, including, but not necessarily limited to, credit risk, interest rate risk, and concentration risk. 7. Provide monthly and quarterly investment reports including a description of market conditions, investment strategies employed, performance, and suggested changes to investment strategy. The performance numbers shall be presented as required by the CFA Institutes “GIPS”. The quarterly report shall provide market value, book value, unrealized gain/loss amounts, maturity distribution graphs, allocations by security types, allocations by credit quality, security type % of portfolio against permitted amounts allowed by investment policy, maturity % against permitted amounts allowed by investment policy, the holdings by issuer % in portfolio against the amounts permitted by investment policy which will be provided to Mayor and Council. 8. Annually assist in the review of the City’s investment policy. The proposed changes to the investment policy will be presented in draft form to the City Treasurer prior to submission to the City Council. 9. The investment advisor will not provide custodial services or security safekeeping.
