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06-20-07 FPAC Minutes
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06-20-07 FPAC Minutes
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6/24/2024 4:07:07 PM
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11/9/2007 2:19:12 PM
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06-20-07 Minutes
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Minutes
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6/20/2007
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• <br /> D. Review Procedures for Performance Monitoring and Policy Compliance: <br /> 1. Review of Policy: At least annually, the policies,objectives and guidelines set <br /> forth in this document will be reviewed by the Treasury Manager and the Director <br /> of the Office of Financial Services. Any changes will be brought to the Mayor <br /> and City Council for approval. Key occurrences that could result in a <br /> recommendation for policy modification include: <br /> a. Significant changes in the Cash Flow Projections or liquidity needs that may <br /> warrant policy change(s). <br /> b. Changes in long-term fixed income market trends and patterns that are <br /> materially different than those assumptions used to set the policy(see Exhibit <br /> B). <br /> c. Significant growth (or reduction) in the assets of the Portfolio. <br /> •2. Review of Investment Results: The Treasury Manager will measure and evaluate <br /> performance at least quarterly with the external managers. The elements to be <br /> included in these reviews are as follows: <br /> a. Evaluation of the total time-weighted return for quarterly and annual periods <br /> of the Total Portfolio,each Component Portfolio, and each separate account <br /> against benchmarks established in the IPS and the Manager Guidelines. <br /> b. Evaluation of risk adjusted returns, using Standard Deviation as a measure of <br /> risk, relative to the respective Performance Benchmark(s). <br /> c. Evaluation of yield for quarterly and annual periods relative to the respective <br /> Performance Benchmark(s). <br /> d. Compliance of investments with the guidelines and standards in this IPS for <br /> diversification and quality, as well as with statutory guidelines. <br /> 411/ <br />
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