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Metropolitan Airports Commission

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Presentation on theme: "Metropolitan Airports Commission"— Presentation transcript:

1 Metropolitan Airports Commission
Investment Adviser

2 Investment Adviser Benefits Expertise - Accreditation Experience
Access to information Analytical tools Continuity Access to securities Buy in larger blocks Help staff develop a benchmark

3 Options for MAC Post-Retirement Fund
- Maturity limits of 10 years or less All other MAC Funds - Maturity limits of 4 years or less

4 Results of Review Based upon interviewing 2 investment firms
Post-Retirement Medical Fund - Yes Best opportunity to generate incremental income Longer time horizon until the funds are needed Take full advantage of the benefits in the previous slide Other MAC Funds - No Short term characteristics of portfolio (e.g. Debt Service & CIP commitments) In-house expertise and experience Would not generate incremental revenue to offset fees

5 Recommendation Issue a Request for Qualifications
Post-Retirement Medical Fund Initial amount approximately $30 million Subject to annual review

6 RFQ Team Scoring Members Advisers Todd Hurley – City of St. Paul
LeaAnn Stagg – MN. State Board of Investment Nick Hinchley – MAC Finance Ed Podnieks – MAC Finance Bob Schauer – MAC Finance Advisers Commissioner Harris Pam Rasmussen – MAC Legal Vinh Ngo – MAC Finance

7 Timeline January 2017 – Issue RFQ
February 2017 – Evaluation and Interviews March 2017 – Finance & Administration Committee recommendation


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