The City of Long Beach is interested in local agencies that have or are
currently using external cash investment managers. Please exclude LAIF,
County Pools or Mutual/Money Market Funds. I would like to know the
following information;
1. What manager (s) does the local agency use for the Investment of
Public Funds?
2. What percentage and dollar amount of the total investment
portfolio is being managed by external mgrs?
3. What type of payment for services is being used for compensation
for the external managers?
4. Does the agency use a "performance pay" method for compensation?
5. Does the agency pay the external manager as an invoice payment or
is the compensation paid from the "gross" earnings before the "net"
earnings is booked by the agency?
6. How long and how many different external managers have the local
agency used?
7. Were the external cash managers selected or retained by a RFP
process?
8. Have the local agency ever "fired" or replaced an external manager
because of poor performance?
I've asked a lot of questions. I don't want to take up too much of your
time. The first four or five questions can probably be answered rather
quickly with short responses. The latter questions may require more
time and expanded responses. For those agencies that have experience
and reponses to the latter questions, please call me at your
convenience. Thank you in advance for your help in this survey. Hank
Stern @ CLB (562) 570-6169
