HomeMy Public PortalAboutR1693 R E S O L U T I O N NO. 1693
WHEREAS, Section 9.3 of the Pension Plan of The
Metropolitan St. Louis Sewer District provides that the Board of
Trustees of the District may, from time to time, appoint one or
more investment managers to direct any Trustee or Trustees with
respect to all or a specified portion of the assets of the Pension
Fund held by the Trustee, and
WHEREAS, Section 9.4 of the Pension Plan of The
Metropolitan St. Louis Sewer District provides that the Board of
Trustees of the District may, from time to time, direct the
Trustee to invest a specified portion of the Pension Fund in a
particular asset or assets, and
WHEREAS, Mercantile Trust Company has been designated
as Trustee of said Pension Fund,
NOW, THEREFORE, BE IT RESOLVED that the following named
investment managers be named to direct the Trustee with respect to
the assets of the Pension Fund of The Metropolitan St. Louis Sewer
District in the manner as hereafter provided.
(A)Loomis, Sayles & Company, Incorporated, Analytic
Investment Management, Inc. and Midwest Advisory
Services, Inc., are hereby appointed investment
managers with respect to the portions of the Pension
Fund specified below and thereafter with respect to the
assets attributable to such portions.
(B)Twenty-six percent (26%) of the Pension Fund is to be
subject to the management of Analytic Investment
Management, Inc., with a primary objective of selling
exchange-traded covered options.
(C)Twenty-four percent (24%) of the Pension Fund is to be
subject to the management of Loomis, Sayles & Company,
Incorporated, with a primary objective of selling
exchange-traded covered (call) options.
(D)Twenty-four percent (24%) of the Pension Fund is to be
subject to the management of Midwest Advisory Services,
Inc., with a primary objective of managing investments
in bonds.
(E)The balance of the Pension Fund shall be held by the
Trustee pursuant to the terms of the Trust Agreement,
with the provision that their holdings shall not exceed
forty percent (40%) in equities.
BE IT FURTHER RESOLVED that the Trustee is hereby
directed to allocated future contributions to each of the
investment managers as hereinafter specified.
(A) 50% Mercantile Trust Company
(B) 20% Analytic Investment Management, Inc.
(C) 15% Loomis, Sayles & Company, Incorporated
(D) 15% Midwest Advisory Services, Inc. The foregoing Resolution was adopted November 23, 1983.