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PA Bulletin, Doc. No. 04-649

THE COURTS

SUPREME COURT

Investment Advisory Board; Request for Proposals

[34 Pa.B. 2066]

   The Supreme Court of Pennsylvania, through its Investment Advisory Board (IAB), plans to issue a request for proposal (RFP) for investment advisory services. The RFP will cover the investment operations of three court-appointed boards operating independently of each other, within the purview of the Supreme Court. The Supreme Court has decided to consolidate the investment activity of the boards to maximize overall investment returns, reduce investment costs, and increase operating efficiencies. The IAB is responsible for this consolidation and future investment oversight. The purpose of this notice is to determine your firm's interest in responding to the soon-to-be-released RFP.

   The services being sought will be to review the investment activity of each of the three boards with the intent to:

   1.  recommend a consolidated investment policy, strategy and asset allocation;

   2.  recommend an operating structure to accommodate the consolidation of board deposited funds for investment and the withdrawal of invested funds for individual board operating use, with separate accounting to assure the fair allocation of investment income at the board level;

   3.  assist in the selection of money managers once an investment policy, strategy and asset allocation plan are developed;

   4.  provide monthly, quarterly and annual reports to the IAB on investment performance, and quarterly reports to the IAB on money manager performance, advising the IAB accordingly; and

   5.  make annual recommendations to the IAB, to include but not limited to, modifications to the current investment policy, strategy and asset allocations.

   The expected size of the consolidated portfolio is in the $20 million range. Source of funds are attorney assessments and fees for service. Offices of the three boards are located in the Harrisburg, Pennsylvania area.

   If you are interested in receiving a copy of the RFP, please contact by letter the Administrative Office of Pennsylvania Courts, P. O. Box 719, Mechanicsburg, PA 17055, Attention IAB-RFP, or email to IAB-RFP@pacourts.us, by May 17, 2004.

MANUEL STAMATAKIS,   
Chairperson

[Pa.B. Doc. No. 04-649. Filed for public inspection April 16, 2004, 9:00 a.m.]


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