Investment Consulting Services for Trust funds

Event ID # EV00008511

Contact information

John Houton

John.houton@boston.gov

(617) 635-3071

The City of Boston, Massachusetts (the “City”), acting by and through its Chief Financial Officer (the “Official”) hereby requests proposals for a consultant (the “Consultant”) to provide investment consultant services in connection with the more than 400 trusts that have been entrusted to the City for the benefit of its residents and employees (the “Trust Funds”), as more particularly set forth in the Request for Proposals captioned above, dated October 19, 2020 (the “RFP”). The RFP shall be made available on the City’s Supplier Portal at http://www.cityofboston.gov/procurement or by emailing such a request to john.houton@boston.gov commencing at 12:00 p.m. Eastern Daylight Time (EDT) on October 19, 2020.  The RFP shall remain available until the time specified below for the submission of proposals. Questions regarding the RFP should be delivered in the manner specified under the heading “Proposals Submission Specifications and Deadline,” in the RFP. Sealed proposals shall be submitted in the manner provided for below, in accordance with the RFP.

The Consultant’s responsibilities with respect to the Trust Funds shall include, but not be limited to, the following: (1) recommending general investment policies and procedures; (2) preparing annual asset allocation plans; (3) preparing annual asset optimization plans; (4) attending trustee board meetings in Boston upon request; (4) performing general research and analysis, and providing advice on specific matters relating to the administration and operation of the Trust Funds, upon request; (5) preparing quarterly reports evaluating the performance of Trust Funds portfolios, and evaluating public market strategies; (6) providing quarterly performance analysis; (7) overseeing and evaluating the performance of investment managers; (8) assisting with the selection of investment managers; and (9) assisting with the selection of the custodial institutions.

One (1) original and four (4) printed of each proponent’s price and technical (non-price) proposals, and one (1) electronic copy of each price and technical proposal in “.PDF” file format on a single  jump drive or similar storage device must be submitted no later than 12:00 p.m., EDT, November 16, 2020 (the “Submission Date”) to the Official at the Office of the Collector-Treasurer, Boston City Hall, Room M35, Boston, Massachusetts 02201-1020. Immediately after the deadline for the submission of proposals the Official or her designee shall open only those proposals received at or before 4:00 p.m. EDT on the Submission Date in City Hall Room M-35. The Official or her designee shall prepare a register of proposals which shall be open for inspection. Until the completion of the evaluations, or until the time for acceptance specified in the RFP, whichever occurs earlier, the contents of the proposals shall remain confidential and shall not be disclosed to competing offerors. The Official shall designate the individuals responsible for the evaluation of the proposals. The award shall be subject to the successful completion and execution of a contract and any related documentation. Any proposals that fail to conform to the provisions and/or the Minimum Evaluation Criteria specified in the RFP will be rejected. The Official also reserves the right to cancel the procurement, to reject in whole or in part any and all responses to the RFP, and to waive minor informalities in any response. The maximum time for the award of a contract after the opening of bids shall be thirty (30) days, unless the Official shall request an extension of such period in writing, and price proposals shall remain effective for the entire thirty (30) day period. The award of the contract shall be subject to the approval of the Mayor of the City of Boston.

Unless the Official rejects all proposals and cancels the RFP, the contract executed by the City and the Firm shall have a term of three (3) years, with an option to renew and extend the contract for two additional years, said option exercisable solely by the City at the Official’s discretion. The exercise of the option for renewal and extension of the contract shall not be subject to agreement or acceptance by the selected Firm.

Emme Handy, Chief Financial Officer