Request for Proposal

Investment Management & Custodial Services
Rochester Public Library

Overview

The Rochester Public Library (RPL) is requesting proposals for comprehensive asset management of its investment portfolio, including advising the RPL Finance Committee about, but not limited to, investment philosophy, capital market trends, investment performance reports, policy reviews and updates, asset allocation strategies, and any other consulting and fund management assistance as requested.

The RPL additionally seeks through the RFP custodial services with a bank, trust company, or broker/dealer to handle the receipt and delivery of securities to and from brokers, preparation of any required financial reporting, and performance of all necessary services related to investments, such as depositing dividends and exercising stock rights. If the Proposal does not include an integrated custodian, note that the investment manager is the sole contractual entity and shall appoint a custodian.

The agreement between the RPL and selected investment manager is intended for a five-year term, with an additional five-year renewal period.

Proposals are to be submitted no later than 2 pm, Friday, November 2, 2018 to:

Brie Harrison, Library Finance Officer (brie.harrison@libraryweb.org)
Rochester Public Library
115 South Avenue
Rochester, New York   14604

It is anticipated that services will commence in April 2018; based on this projection, schedule as follows:

  • Issuance of RFP – October 5, 2018
  • Deadline for submitting questions – October 19, 2018
  • Deadline for Proposals – November 2, 2018
  • Finalist notification – by November 16, 2018
  • Finalist Interviews – early December 2018
  • Recommendation to Board of Trustees – January 23, 2019
  • Commencement of Services – April 1, 2019

RFP Investment Management Library

Appendix A RPL Investment Policy

Appendix B City Standard Terms And Conditions