The City of Santa Cruz is soliciting proposals from investment advisory firms for investment management services. The level of assets to be managed will range from $50 - 75 million. The scope of this RFP is exclusive of LAIF, custodial services and funds held in Trust. The City’s primary investment objective is to achieve a reasonable rate of return on public funds while minimizing the potential for capital losses arising from market changes or issuer default. Although the generation of revenue through interest earnings on investments is an appropriate City goal, the primary consideration in the investment of City funds is capital preservation in the overall portfolio. As such, the City’s yield objective is to achieve a reasonable rate of return on City investments rather than the maximum generation of income, which could expose the City to unacceptable risk.

The City anticipates awarding a contract to one qualified firm for a (3) three-year initial contract term, with the option to renew if the City so elects.

Proposal Delivery Instructions:

Proposals are due August 2, 2023 by 5:00 pm PST

Proposals are due no later than 5:00 pm on 8/2/2023 to guarantee review. Proposals received after the deadline will be deemed non-responsive. All proposals will be e-mailed to mgomez@santacruzca.gov before the due date. Proposers take full responsibility for City’s receipt of its Proposal. The City will not be liable for any expenses incurred by Proposers in responding to this solicitation, including but not limited to any costs associated with interviews. The subject line of the emailed proposal shall include the Project name and RFP number. It is the responsibility of the Proposer to ensure that electronic submittals are received by the City prior to the deadline.

For More Information:

RFP No. FIN2335 - Investment Management Services

ATTACHMENT 1 - City of Santa Cruz Statement of Investment and Portfolio Policy

ATTACHMENT 2 - Note 2 Cash Deposits and Investments audited as of June 30, 2022

ATTACHMENT 3 - Portfolio Management Report as of March 31, 2023

RFP No. FIN2335 - Investment Management Services - Addendum No. 1

RFP No. FIN2335 - Investment Management Services - Addendum No. 2