Specifications include, but are not limited to: 6.1. General As a fiduciary, provide objective, creative and conflict free advice, including on‐site consultation and assistance, in the following areas: 6.2. Asset Allocation 6.2.1. Perform asset‐liability study and analysis; 6.2.2. Advise on a broad range of public and private asset classes; 6.2.3. Develop, maintain and present capital market expectations; 6.2.4. Recommend, consult and advise on asset allocation, including an annual review; 6.2.5. Advise on rebalancing policies; 6.2.6. Advise on strategic and tactical investment issues; and 6.2.7. Compare NYSTRS’ asset allocation to that of other comparable public pension funds. 6.3. Manager Research 6.3.1. Assist with manager searches, selections and terminations; 6.3.2. Provide detailed manager research reports asrequested and accessto manager research databases, if available; 6.3.3. Assist with external manager oversight, including ongoing review and interviews of managers, as requested by Retirement Board and staff, including investment performance analysis; 6.3.4. Provide written recommendations to the Board on the external manager annual renewal process for public equities and fixed income; 6.3.5. Advise on transition management issues and strategies; 6.3.6. Attend NYSTRS Annual MWBE Conference, if requested; 6.3.7. Assist in securities lending agent and/or custodian search and selection 6.4. Governance 6.4.1. Advise the Retirement Board on investment guidelines and policies, including the development of new guidelines and policies and the amendment of existing ones; 6.4.2. Advise on risk management issues; 6.4.3. Advise on management structure (e.g., policy benchmarks, active vs. passive, investment style mixes); 6.4.4. Advise on internal vs. external investment management; and 6.4.5. Attend a minimum of four board meetings and four investment advisory committee meetings per year held in Albany, NY; 6.4.6. Attend Internal Investment Committee meetings as requested. 6.5. Education 6.5.1. Perform fiduciary and/or investment educational sessions for the Retirement Board and/or staff as requested; 6.5.2. Provide research on asset‐liability, asset allocation, capital markets,sub‐asset classes, investmentstrategies and other special projects; 6.5.3. Compare NYSTRS’ investment performance, structure and choice of asset classes to that of other comparable public pension systems; and 6.5.4. Provide access to any proprietary web‐based investment research reports and analytical tools and or software.
