Louis Firefighters% Retirement Plan, (the "Plan), is conducting a domestic investment grade core aggregate and investment grade global fixed income investment manager
search under the guidance of their investment consultants, Barry Bryant, CFA and Steven Roth, CFA.
The term "testimonials" includes a "statement of a client's experience with, or endorsement of, an investment manager
It will also consider the consequences to the relevant investment manager
in the event of a breach.
There are a number of keys questions that you can put to a prospective investment manager
in order to make an informed decision:-
Or, does it want to retain those operations in-house and hire an investment manager
to select funds and monitor their suitability?
In addition, the DOL issued an earlier class exemption (PTCE 86-128) that generally provides relief where an investment manager
has discretion with respect to, or provides investment advice to, either the buyer or seller, but not both.
This floor rate specifically limits downside performance to the plan, while giving the investment manager
both the time and flexibility to bring portfolio returns back up.
The power of the investment manager
is all derivative.
I submit that we, the plan sponsors, are guilty of creating those types of conflicts because we expect the investment manager
to come in and say, "I beat the index every quarter.
I believe that any investment manager
who agrees to fees that are contingent on performance minimums without calculating the insurance cost to him in terms of business survival, and adjusting his standard fee schedule accordingly, is naive.