HomeMy Public PortalAboutR3068RESOLUTION NO 3068
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, US Bank National Association has been designated as Trustee of said
Pension Plan, and will continue in that function, and
WHEREAS, Resolution No. 2986, adopted August 11, 2011, 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 Board of Trustees of the District with respect to the assets of
the Pension Fund of The Metropolitan St. Louis Sewer District in the manner as hereafter
provided.
(A) Vanguard Windsor II Fund is hereby appointed as investment
manager for the Domestic Large Cap Equity Asset Component as specified in Resolution
No. 2986.
(B) Vanguard 500 Index Fund is hereby appointed investment managers
of the Growth & Income portion of the Domestic Large Cap Equity Asset Component as
specified in Resolution No. 2986.
(C) Times Square Asset Management and Kennedy Capital
Management Co., Inc. are hereby appointed as an investment manager of the Domestic
Small Capitalization Equity Asset Component Resolution No. 2986.
(D) Income Research & Management, Inc. And Loomis Sayles is
hereby appointed fixed income investment managers to manage a portion of the Fixed
Income Asset Component as specified in Resolution No. 2986.
(E) First American Fund – Prime Obligations Fund, Class Z, is hereby
appointed investment manager of the Short Term Investment Fund (STIF) portion of the
Fixed Income Asset Component as specified in Resolution No. 2986.
(F) Morgan Stanley International Equity Fund is hereby appointed as an
investment manager of the International Equity Component as specified in Resolution No.
2986.
(G) Grantham, May, Van Otterloo & Co., LLC is hereby appointed
investment manager of global tactical asset allocation and PIMCO All Asset Fund is
appointed manager for the global tactical asset allocation and absolute return component
Resolution No. 2986.
(H) Brandywine Asset Management LLC is hereby appointed as
investment manager of the Global Fixed Income Components as specified in Resolution
No. 2986.
(I) Penn Capital Management Company, Inc. is hereby appointed as
investment manager of the High Yield Fixed Income Component as specified in
Resolution No. 2986.
(J) Pyramis Global Advisors is hereby appointed investment manager
of the Market Neutral Component as specified in Resolution No. 2986.
(K) UBS Realty Investors LLC, Real Estate Separate Account
("RESA") is hereby appointed to manage the Real Estate Investment Component as
specified in Resolution No. 2986.
(L) BNY ConvergEx formerly Lynch, Jones and Ryan is hereby
appointed as a recapture brokerage firm for the District's Pension Plan Resolution No.
2986.
(M) Wellington Trust Company, National Association, Diversified
Inflation Hedges Portfolio is hereby appointed to manage the Real Assets Investment
Component as specified in Resolution No. 2986.
(N) Pictet Asset Management, Ltd (Pictet Emerging Local Currency
Debt Fund, LLC) is hereby appointed as investment manager of the Emerging Market
Debt (local currency) as specified in Resolution No. 2986. Pictet Emerging Local
Currency Debt Fund, LLC is a Delaware-registered limited liability company. Custodian:
Brown Brothers Harriman & Co.
(O) T. Rowe Price Group, Inc. and Holland Capital Management, LL
are hereby appointed as investment managers of the Large Capitalization Growth portion
of the Domestic Large Cap Equity Asset Component as specified in Resolution No. 2986.
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 Ordinance was adopted on January 10, 2013.