Finance and Audit
Committee Substitute
April 14, 2008
IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
A RESOLUTION authorizing the Chief Administrative Officer to execute extensions to the contracts with Hotchkiss and Wiley Capital Management, LLC of Los Angeles, CA, and Enhanced Investment Technologies, LLC of Palm Beach Garden, FL.
Intro
RESOLUTION #16607 April 7, 2008
INTRODUCED BY Scott Burnett, County Legislator
Body
WHEREAS, by Resolution 16294, dated May 14, 2007, the Legislature did authorize contracts with the following vendors to provide investment management services in connection with the Jackson County Employees' Pension Plan, all for the period ending December 31, 2007:
Vendor Services Cost
Hotchkiss and Wiley Investment Management varying percentage
Capital Management, of asset
LLC value/month
Los Angeles, CA (avg. $43,000/quarter)
Enhanced Investment Management varying percentage
Investment Technologies, of asset
LLC value/quarter
Palm Beach Gardens, FL (avg. $31,000/quarter)
and,
WHEREAS, by Resolution 16494, dated January 7, 2008, the Legislature did authorize extensions of those contracts for an additional ninety (90) days ending March 31, 2008; and,
WHEREAS, since the award and extension of these contracts, Callan Associates Inc has been retained by Resolution 16512, dated January 22, 2008, for the furnishing of investment advisor services for 2008 and beyond; and,
WHEREAS, the Administration now recommends that these contracts be extended for an additional period through July 31, 2008 for Callan Associates Inc to evaluate the investment management services and make recommendations for future services; now therefore,
BE IT RESOLVED by the County Legislature of Jackson County, Missouri, that the Chief Administrative Officer, as Chair of the Pension Plan Administration Committee, be and hereby is author...
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