Investment Management and Advisory Services

STATEMENT OF PURPOSE The City of West Sacramento is requesting proposals from qualified investment advisory firms ("Proposer") for portfolio management services. Investment practices and procedures must comply with state law and the City’s written investment policy. The investment advisory firm will be expected to perform to the Prudent Expert Standard. The City’s investment policy (Exhibit A) is based on the principles of prudent money management and California law relating to the investment of public funds. The primary objective calls for the safety of invested funds. Secondary to safety is sufficiency of liquid cash to meet ongoing obligations. The policy also calls for attaining a market rate of return on its investments. The City, by way of its investment advisor, purchases investments with the intent to hold until maturity but does not preclude sales before maturity if it can be demonstrated that the transaction will benefit the portfolio. The City’s investment style can be described as moderately active. Responsibility of the investment program is assigned to the Treasurer. Exhibit B contains the City’s investment report for the quarter ended June 30, 2024. The City is seeking proposals from qualified firms to: Provide investment services in a comprehensive manner to handle the day-to-day administration of the City’s investment portfolio; and Provide discretionary investment advisory services to help govern the City’s investment portfolio, currently valued at approximately $350 million Each qualified Proposer is to submit a proposal in conformity with the terms of this Request for Proposal ("RFP") by the deadline below ("Proposal"). The Proposer selected by the City pursuant to the terms of this RFP and the City's contracting procedures, if any is selected, is referred to herein as "Contractor." SYNONYMOUS TERMS Unless the use indicates otherwise, as used throughout this bid and its attachments, the following terms are synonymous: a. Firm, Consultant, Supplier, Vendor, Contractor, Successful Bidder, Offeror b. Purchase Order, Contract, Agreement c. Services, Work, Scope, and Project d. Pricing proposal/sheet, Cost proposal/sheet, Rate table/sheet