HomeMy Public PortalAboutr2664R E S O L U T I O N NO. 2664
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 Trust Company has been designated as Trustee
of said Pension Plan, and will continue in that function, and
WHEREAS, Resolution No. 2563, adopted June 10, 2004, 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) Vanguard Windsor II Fund is hereby
appointed as investment manager for the
Value Equity Asset Component as specified
in Resolution No. 2563.
(B) Vanguard 500 Index Fund is hereby
appointed investment managers of the
Growth & Income portion of the Equity Asset
Component as specified in Resolution 2563.
(C) Waddell & Reed, are hereby appointed as
investment managers of the Large
Capitalization Growth portion of the Equity
Asset Component as specified in Resolution
No. 2563.
(D) Times Square Asset Management and Ark
Asset Management Co., Inc. are hereby
appointed as an investment manager of the
Small Capitalization Equity Asset
Component as specified in Ordinance No.
2563.
(E) Income Research & Management, Inc. is
hereby appointed fixed income investment
managers to manage a portion of the Fixed
Income Asset Component as specified in
Resolution No. 2563.
(F) 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. 2563.
(G) Morgan Stanley International Equity Fund
is hereby appointed as an investment
manager of the International Equity
Component as specified in Resolution No.
2563.
(H) Grantham, May, Van Otterloo & Co., LLC is
hereby appointed investment manager of
global tactical asset allocation.
(I) Brandywine Asset Management LLC is
hereby appointed as investment manager of
the Global Fixed Income Component as
specified in Resolution No. 2563.
(J) Penn Capital Management Company, Inc. is
hereby appointed as investment manager of
the High Yield Fixed Income Component as
specified in Resolution No. 2563.
(K) Fidelity Management Trust Company is
hereby appointed investment manager of the
Market Neutral Component as specified in
Resolution No. 2563.
(L) UBS Realty Investors LLC, Real Estate
Separate Account ("RESA") is hereby
appointed to manage the Real Estate
Investment Component as specified in
Resolution No. 2563.
(M) 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 August 10, 2006.