Items Types:
OPEB Trust - Board of Trustees
For Meeting of:
October 20, 2014
District: ALL From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No

Selection of Artisan Partners to Manage the International Equity Assets of the OPEB Trust Fund

The international equity assets of the OPEB Trust Fund are currently managed by Thornburg Investment Management, Inc.  Due to performance concerns and significant changes in the portfolio management team, the City's investment consultant, NEPC, recommended the replacement of Thornburg.  NEPC conducted a search for a replacement investment manager.  On October 3, 2014, the City's Investment Committee reviewed the firms recommended by NEPC and voted unanimously to recommend to the OPEB Board of Trustees the selection of Artisan Partners to replace Thornburg as the investment manager for the international equity portfolio of the OPEB Trust Fund.  The meeting minutes of the Investment Committee are attached for reference.

Fiscal & Efficiency Data: N/A

Recommended Action:
Approve the selection of Artisan Partners to manage the international equity assets of the OPEB Trust Fund, authorize staff to transition assets from Thornburg to Artisan Partners, and authorize the Chairman to sign any necessary documents.

Agenda Item attachment(s) on file in the City Clerks Office.

Note: All agenda items must be in the City Clerk's office by Noon Friday, six(6) business days prior to the regular Monday City Council meeting.

Contact: Christopher P. McCullion, Treasurer
Approved By:

Department Date and Time
Budget Outside Routing Approval 10/8/2014 4:56 PM
City Clerk 10/8/2014 5:20 PM

Name: Description: Type:
Investment_Min10032014_Final.pdf Meeting Minutes - Investment Committee 10-3-2014 Backup Material

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