HomeMy Public PortalAboutR2279 R E S O L U T I O N NO. 2279
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 act on behalf of any Trustee or Trustees of the
Pension Plan with respect to all or a specified portion of the assets of the Pension Fund held
by said Trustee. Such investment managers shall be either (a) registered as an investment
adviser under the Investment Advisers Act of 1940, (b) the securities of investment companies
(mutual funds) registered under the Investment Company Act of 1940, (c) a bank common or
collective trust fund as defined in the Investment Advisers Act of 1940, (d) a legal insurance
company qualified to manage, acquire or dispose of plan assets under the laws of Missouri,
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 of the Pension Plan 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 Plan, and will continue in that function, and
WHEREAS, Resolution No. 2196, adopted December 14, 1995, specified the
manner in which the assets of the Pension Fund of The Metropolitan St. Louis Sewer District
are to be invested.
NOW, THEREFORE, BE IT RESOLVED that the following investment managers
be appointed to act on behalf of the Trustee of the Pension Plan with respect to the assets of
the Pension Fund of The Metropolitan St. Louis Sewer District in the manner as hereafter
provided.
(A) Radnor Capital Management is hereby appointed
as an investment manager of the Value Equity
Asset Component as specified in Resolution No.
2196.
(B) Carl Domino Associates L.P. is hereby also
appointed as an investment manager of the Value
Equity Asset Component as specified in Resolution
No. 2196.
(C) Collective Equity Fund as managed by Mississippi
Valley Advisors, Inc. is hereby appointed
investment manager of the Growth & Income
portion of the Equity Asset Component as
specified in Resolution No. 2196.
(D) IDS/American Express is hereby appointed as an
investment manager of the Large Capitalization
Growth portion of the Equity Asset Component as
specified in Resolution No. 2196.
(E) NationsBank/Trade Street is hereby appointed as
an investment manager of the Small Capitalization
Equity Asset Component as specified in Ordinance
No. 2196.
(F) Income Research & Management, Inc. and Llama
Asset Management Company, L.P. are hereby
appointed fixed income investment managers to
manage a portion of the Fixed Income Asset
Component as specified in Resolution No. 2196.
(G) Mercantile Trust Company is hereby appointed
investment manager of the Short Term Investment
Fund (STIF) portion of the Fixed Income Asset
Component as specified in Resolution No. 2196.
(H) Lynch, Jones and Ryan is hereby appointed as a
recapture brokerage firm for the District's Pension
Plan.
BE IT FURTHER RESOLVED that the Executive Director, with the approval of
the Chairman of the Board of Trustees of The Metropolitan St. Louis Sewer District, is hereby
authorized and directed to execute any necessary instruments to give effect to the foregoing.
The foregoing Resolution was adopted February 12, 1998.