FROM: Don Pierce, Chief Investment Officer
SUBJECT: Approve updates to Investment Policy No. 015 (Transactions with Former Board Members and Officers of SBCERA)
RECOMMENDATION:
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Approve and adopt updates to Investment Policy No. 015 (Transactions with Former Board Members and Officers of SBCERA).
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BACKGROUND:
General Policy No. 005 involves the periodic review of Board Policies and indicates that the Investment Committee shall review investment policies every three years.
Investment Policy No. 015 (Transactions with Former Board Members and Officers of SBCERA) was last reviewed in 2017.
Pursuant to General Policy No. 005, staff has conducted a review of Investment Policy No. 015, and has found it both generally consistent with current practice and appropriate for SBCERA's program. Staff is therefore recommending renewal of Investment Policy No. 015 without substantive change.
COMMITTEE REVIEW:
This item was reviewed by the Investment Committee at its August 11, 2020 meeting and recommends Board approval, with a 4-0 vote.
BUDGET IMPACT:
None.
STRATEGIC PLANNING GOAL/OBJECTIVE:
Prudent Fiscal Management
STAFF CONTACT:
Don Pierce
ATTACHMENTS:
Exhibit A: Investment Policy No. 015 (Transactions with Former Board Members and Officers of SBCERA), Issue 3.0 - Redline