Must have at least $100 million currently under management.
Must have been in business at present firm for at least eight years. The history of the individual investment managers will also be considered.
Investment philosophy and strategy must be compatible with The Investment Policies currently approved by the Board of Trustees of the Warren County Foundation.
Must have a disciplined process for selection of securities that can be evaluated for continuity of investment strategy, and disclose the investment performance for three, five, and ten-year periods on a comparable basis, using CFA Institute GIPS Standards.
Must disclose past and current ownership, list the number of professionals directly involved with the firm, their length of service, and the turnover of professional staff during the past three years. The manager is also responsible to advise the Chief Financial Officer of the foundation if any significant future changes occur in the management of the firm or its staff of professional managers related to our accounts.
Must disclose the style of equity and fixed income management utilized.
Must have “state of the art” information systems, quality service and support record, and be able to report monthly and/or quarterly to the Warren County Foundation and/or its designated consultants in formats compatible with the Foundation’s investment performance measurement, using CFA Institute GIPS Standards.
Must have a fee structure that is reasonable in relation to industry standards.
Must be willing to meet periodically with the Finance or Investment Committees to report directly on its performance, and be willing to assume a role in supporting the continuing asset development activities of the Foundation.
Must disclose the number of accounts gained and lost over the past three years.
Must disclose any litigation or enforcement actions that have been initiated against the firm, the firm’s officers, directors, or investment professionals in the past five years.
Must have fidelity bond coverage and/or fiduciary liability or other insurance that would protect the interests of the Warren County Foundation in the event of a breach of fiduciary duty.
Must be qualified as a registered investment advisor and provide copies ofADVparts 1 and 2 to the Warren County Foundation. If a bank, then this does not apply.
Must be able to designate an account manager who is acceptable to the Warren County Foundation, and provide adequate attention and service to the account.
The finance committee may waive certain requirements where deemed appropriate.
