San Bernardino County Employees Retirement Association
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File #: 23-434    Name:
Type: Action Item
File created: 10/17/2023 In control: INVESTMENT COMMITTEE
On agenda: 11/16/2023 Final action:
Title: Recommend that the Board approve the CY 2024 Investment Manager Due Diligence Schedule and Exception List.
Attachments: 1. Exhibit A: Proposed CY 2024 Due Diligence Schedule and Existing List of Exceptions_11-16-23, 2. Exhibit B: CY 2023 Completed Due Diligence Items_11-16-23, 3. Exhibit C: CY 2025 Tentative Look-ahead Schedule _11-16-23

 

FROM:                                            Don Pierce, Chief Investment Officer

 

SUBJECT:                                            Calendar Year (CY) 2024 Investment Manager Due Diligence Schedule and Exception List

 

RECOMMENDATION:

title

Recommend that the Board approve the CY 2024 Investment Manager Due Diligence Schedule and Exception List.

body

 

BACKGROUND:

Staff has prepared a proposed CY 2024 Investment Manager Due Diligence Schedule in accordance with SBCERA’s Due Diligence Policy (the Policy).   The Policy requires on-site or remote investment due diligence for all managers at least once every three (3) years: 

 

The preliminary due diligence schedule for CY 2024 is attached as Exhibit A.  The anticipated mode of conducting each visit is listed along with other details for each proposed meeting.  Due to the volume of New York-based managers, two (2) trips to that locale, one in the spring and one in the fall, are planned. 

 

Exhibit A also includes a list of existing exceptions for investment due diligence visits. No new exceptions are being requested at this time. For reference, Exhibit B includes a list of the due diligence meetings which have been completed in CY 2023; Exhibit C is a look-ahead to anticipated due diligence in CY 2025.

 

BUDGET IMPACT:

None.

 

STRATEGIC PLANNING GOAL/OBJECTIVE:

Prudent Fiscal Management

 

STAFF CONTACT:

Eydie Cox

 

ATTACHMENTS:

Exhibit A:                     Proposed CY 2024 Due Diligence Schedule & Existing List of Exceptions

Exhibit B:                     CY 2023 Completed Due Diligence Items

Exhibit C:                     CY 2025 Tentative Look-ahead Schedule