Specifications include, but are not limited to: The Investment Manager will develop and or maintain a statutorily acceptable portfolio which may include collateralized mortgage obligations and mortgage-backed securities. Since these portfolios are all working capital portfolios, contributions to the Investment Manager will be provided after meeting liquidity requirements. The duration target of all portfolios is 1.9 years. The Investment Manager will have independent discretionary authority with respect to the investment of that portion of assets under management subject to federal rules and regulations, the Annotated Code of Georgia, the County Investment Policy, and such other written limitations as the Gwinnett County Investment Committee or Gwinnett County Board of Commissioners impose upon the Investment Manager. The Investment Manager will provide reporting and economic forecasts as stipulated in the County Investment Policy. The Investment Manager will document all investment transactions and maintain a portfolio management system in accordance with usual and customary accounting standards of practice and confirm all executed transactions for custodial account records with the firm’s own broker/dealer. The Investment Manager will make written recommendations for changes in County Investment Policy and provide written summations of impact from changes to applicable State and Federal laws and regulations. The Investment Manager will provide services on an annual basis with four (4) additional one-year options to renew. Costs specified in the proposal shall remain firm for the period of five (5) years. The Gwinnett County Investment Manager will review the Investment Manager performance quarterly and make formal recommendations to the Director of Financial Services and the Gwinnett County Investment Committee to renew the annual contract and/or to make such changes to investment scope, horizon, duration, benchmarks, performance, contributions, etc.
