Download With regards to Section 33, Affirmative Action, our standard practice

With regards to Section 33, Affirmative Action, our standard practice is to provide numbers of
minority and female increase or decrease based on the EEO categories. Please confirm and/or
advise accordingly if this would be acceptable to you.
Please provide the specific information requested in the RFP.
If awarded the mandate, we do not anticipate hiring any subcontractors for management of the
Account. We therefore view all questions and requirements in this RFP regarding subcontracting,
including Section 31 of the Investment Management Agreement, as not applicable. Further, we
do not consider broker-dealers to be subcontractors nor do they provide discretionary investment
management services. Please confirm and/or advise accordingly.
Requirements regarding subcontractors will be enforced in any contractual
agreement per the terms of the City Code.
Will strategies that are benchmarked against the JP Morgan EMBI Global Diversified Index be
considered for this search?
Please submit strategies that meet the minimum criteria, including applicable
benchmarks, that are called for in the RFP.
In regards to the objective stated in the RFP (80 bps alpha vs. the S&P 500), can you please
advise over what time period this will be enforced? For instance, if we did not meet this
threshold on a 1 year basis, but do meet this threshold in a 3, 5 and 10 year basis, would be still
be eligible for consideration?
Firms and strategies that meet the minimum criteria called for in the RFP will be
eligible for consideration. The Commission and Staff are generally interested in funds that
meet the criteria you cite, net of fees, over a market cycle.
Are all statistics, personnel and asset data to be as of 3/31/16?
June 30, 2016 (or later, if available)
Question #23 asks for a breakdown of the firm accounts by client type. Endowments are a
category, but Foundations are not. Should I include Foundations in that number?
You may include endowments and foundations together if you wish.
Question #28 on the questionnaire asks for the number and assets of tax-exempt accounts the
firm gained and lost going back to 2007. Do you want the number of accounts and the dollar
amount in the same cell (box) of the table?
Please use your best judgment and submit that data in such a way that it is “reader
friendly” for Investment Staff.
We note that you are looking for an investment manager that exceeds the S & P 500 by 80 bps
net of fees. We will be presenting our composite track record as a proof statement, however we
would like to confirm if you will be looking at a certain time period or as of date? Would you
consider a manager that has not met this performance target historically?
Firms and strategies that meet the minimum criteria called for in the RFP will be eligible
for consideration. The Commission and Staff are generally interested in funds that meet
the criteria you cite, net of fees, over a market cycle.
For the “ERISA” category listed in the charts below, are you looking for “Corporate”
accounts/assets?
Yes.
Gained
Public
ERISA
TaftHartley
Endowment
Foundation
Other
Total
2007
2008
2009
2010
2011
2012
2013
2014
2015
YTD
03/31/2
# of
Accounts
$ Value
Tax Exempt
Assets:
ERISA
Public
Taft-Hartley
Endowment
Other*
Total TaxExempt:
Would the Commission consider a manager with a 25 year track record for a domestic ALL CAP
value equity composite as representative of that manager’s ability to manage a domestic large
cap core equity active mandate for the PGW Pension Plan?
Please submit strategies that meet the minimum criteria, including track records, that are
called for in the RFP. Strategies that do not meet listed criteria are ineligible for
consideration.
Under C.1. Services, please clarify whether managing a Domestic Investment Grade Credit
Fixed Income portfolio is part of the mandate requirements, or is this meant to read Actively
manage a Domestic Large Cap Core Equity portfolio?
Domestic Large Cap Core Equity. We apologize for the typo.
We noticed in the LCC RFP, the minimum requirement for product assets is $300 million. Our
Core Equity portfolio is currently at less than this amount, but our total firm wide AUM is much
higher.
Please advise on the AUM issue.
Please submit strategies that meet the minimum criteria, including applicable AUM, that
are called for in the RFP. Strategies that do not meet listed criteria are ineligible for
consideration.