HomeMy Public PortalAboutR2336 R E S O L U T I O N NO. 2336
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. 2293, adopted June 11, 1998, 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) Sanford C. Bernstein & Co. is hereby
appointed as an investment manager of the
Value Equity Asset Component as specified in
Resolution No. 2293.
(B) Mississippi Valley Advisors Collective Equity
Fund and Vanguard 500 Index Fund are
hereby appointed investment managers of the
Growth & Income portion of the Equity Asset
Component as specified in Resolution 2293.
(C) 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. 2293.
(D) Westcore and Fiduciary Trust International
are hereby appointed as an investment
manager of the Small Capitalization Equity
Asset Component as specified in Ordinance
No. 2293.
(E) 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. 2293.
(F) 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. 2293.
(G) INVESCO Retirement Trust International Equity Fund is hereby
appointed as an investment manager of the International Equity
Component as specified in Resolution No. 2293.
(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 September 9, 1999.