PERAC Memo #14 - 2001: Verification of Managers, Custodian and Consultant

Verification of Managers, Custodian and Consultant

Summary

This memo asks retirement boards to verify PERAC's records of investment managers, custodian, and consultant retained as of December 31, 2000, for use in the PERAC 2000 Annual Report—note that pooled funds (mutual funds, commingled funds, etc.) count as investment managers for this purpose. Boards must notify PERAC in writing of any discrepancies (including name differences) and report any liquidations or terminations with dates; if no response is received by February 12, 2001, PERAC will treat its records as accurate.

Full Text

PERAC MEMO #14/2001 M E M O R A N D U M TO: All Retirement Boards FROM: Robert A. Dennis, Investment Director RE: Verification of Managers, Custodian and Consultant DATE: January 29, 2001 The Investment Unit is in the process of compiling information necessary for the PERAC 2000 Annual Report. Please assist us in this regard by verifying that the attached list of manager(s), custodian, and consultant (if any) were retained by your retirement board as of December 31, 2000. Please note that PERAC considers each pooled fund (e.g. mutual funds, commingled funds, group trusts, real estate funds, limited partnership funds, and venture capital funds) as an investment manager for the retirement system. Please notify PERAC in writing of any discrepancies between our records and the board’s records including any differences in the names of the investment management firms or differences in the names of pooled fund products. Please note that if a fund has been liquidated or if a manager has been terminated, the Board must submit a letter to the Investment Unit stating the name of the fund or name of the manager and the date of liquidation or termination. Absent a response by February 12, 2001, we will assume the information is accurate.