Long - Term Investment Management

2026-11-03

Scope of Work 1 . INTRODUCTION AND BACKGROUND Georgia Housing and Finance Authority ( GHFA ) is seeking proposals for long term investment management services . The purpose of this Request for Proposals ( RFP ) is to acquire professional services that will further develop and improve the long - term investment objectives , standards of prudence , eligible investments and transactions , internal controls , reporting requirements , and safekeeping and custodial procedures necessary for the prudent management of the investment funds of GHFA . GHFA ’ s funds available for investment are comprised of monies in the long - term portfolio . A . The GHFA Long - Term Investment Portfolio is currently managed by external investment managers and totals approximately $ 160 million B . The core $ 80 million allocation seeks credit risk exposure and net returns commensurate with that of the chosen index . C . External manager to manage the core intermediate duration U . S . investment grade credit portfolio . D . Overall portfolio managed to the risk profile of the designated index . E . Fund performance is measured on a net total return basis vs . the index . F . The estimated portfolio size is approximately $ 80 million . G . Fluctuations in portfolio size throughout the year are normal . The current investment management procedures are carried out by an outside investment firm . 2 . SCOPE OF WORK The supplier shall manage the core $ 80 million fixed - income bond portfolio benchmarked to the Bloomberg Intermediate U . S . Aggregate bond index . 3 . SPECIFIC CONTRACTOR RESPONSIBILITIES The supplier shall complete the following actions , tasks , obligations , and responsibilities : 1 . Supplier must preserve existing capital while seeking to prudently increase the size and value of the Long - Term General Fund Investment Portfolio . 2 . Manage the portfolio for maximum total - return consistent with the stated purposes and objectives of the GHFA Long - Term Investment Policy . 3 . Supplier must maintain adequate diversification of investment maturities , issuers , counterparties , securities , and class of securities . 4 . Maintain reasonable bands around the benchmark concerning overall portfolio interest rate risk and credit risk levels while emphasizing securities with high levels of general marketability . 5 . Supplier must comply with all requirements set forth in the Georgia Housing and Finance Authority Act , O . C . G . A . § 50 - 26 - 1 , et seq . ( the “ Act ”). 6 . All securities purchased for the Long - term portfolio must be rated investment grade at the time of purchase unless otherwise noted . 7 . Transaction counterparties must be rated investment grade at the time of the transaction . 8 . If a security or entity is rated investment grade by any one of S & P , Moody ’ s or Fitch , it shall be considered investment grade . 9 . The expected size of the GHFA core allocation of the Long - Term portfolio to be managed by the investment manager , is approximately 50 % of the overall GHFA Long - Term portfolio and shall be governed by the GHFA Long - Term Investment Policy . 4 . GHFA LONG - TERM GENERAL FUND INVESTMENT POLICY All investments in the GHFA Long - Term Investment Portfolio must adhere to the “ GHFA LongTerm General Fund Investment Policy ” included as Attachment B . Please read this Policy carefully . The investment manager chosen to manage this core long - term portfolio will NOT have access to four investment types listed in Sections V ., VI . & VIII . The investment types NOT allowed in the core long - term portfolio are : K . Whole Mortgage Loans M . Mutual Funds – money market funds are allowed N . Derivative Securities , and P . Institutional Investor Funds The remaining parts of the Policy do apply to the core long - term portfolio .

Georgia

2026-04-29