NEPC, the Investment Consultant for the OPEB Trust Fund, has recommended the addition of an active small/mid capitalization equity manager and a diversified fixed income manager for the OPEB Fund.  A search for both managers was done through NEPC’s search process, and the results were presented to the Investment Committee and the Finance Committee.  Both committees approved the recommendation to hire Clarkston to manage the small/mid capitalization equity allocation, and Manulife to manage the diversified fixed income allocation.

Approve the selection of Clarkston Capital Partners LLC and Manulife Asset Management to manage a portion of the assets in the OPEB Fund and authorize the Chief Financial Officer to negotiate and execute investment management agreements and any other necessary documents with these firms, subject to review by the City Attorney’s Office as to form and legality.