Description
The Cosumnes Community Services District is seeking proposals from qualified firms to provide investment management services. The selected firm will be responsible for managing the District's public funds, prioritizing safety of principal, maintaining adequate liquidity, and achieving a reasonable rate of return. The scope of work includes investment management and advisory services, cash flow and liquidity coordination, compliance and policy support, reporting and performance measurement, custodial and broker coordination, education and additional advisory services, governance, ethics, and fiduciary standards, and risk management and internal controls. The District's investment portfolio currently totals $142.3 million, and the selected firm will be expected to provide services in accordance with the District's adopted Investment of District Funds Policy and applicable provisions of the California Government Code.
• The District is seeking a firm with experience in managing investment portfolios for public funds and governmental entities, particularly in California.
• The selected firm will be required to provide monthly investment statements and quarterly investment reports, and to present performance results in accordance with the CFA Institute's Global Investment Performance Standards (GIPS).
• The firm will be expected to maintain records demonstrating portfolio diversification, credit quality, maturity structure, and policy compliance, and to assist the District in evaluating broker-dealer creditworthiness and performance.
• The District is committed to ensuring that diversity, inclusiveness, and equity are integral parts of day-to-day management, work, and service delivery, and the selected firm will be expected to demonstrate its commitment to these values.