RFP-783-UofH-3015 Custody Services

Agency:	State Government of Texas
State:	Texas
Type of Government:	State & Local
Posted Date:	Mar 5, 2025
Due Date:	Mar 26, 2025
Solicitation No:	RFP-783-UofH-3015
Original Source:	Please Login to View Page
Contact information:	Please Login to View Page
Bid Documents:	Please Login to View Page

Description

Solicitation ID:

RFP-783-UofH-3015

Status:

Posted

Contact Name:

Eric Cabiran

Contact Number:

(713) 743-8568

Contact Email:

ecabiran@Central.UH.EDU

Response Due Date:

3/26/2025

Response Due Time:

5:00 PM

Agency/Texas SmartBuy Member Number:

730

Posting Requirement:

21+ Days for Solicitation Notice

Solicitation Posting Date:

3/5/2025

Last Modified:

3/5/2025 4:06 pm

Class/Item Code:

94600-Financial Services;
94648-Financial Advisor;
94649-Financial Services (Not Otherwise Classified);
95839-Financial Management Services;
94900-FINANCIAL SERVICES, HIGHER EDUCATION;

Solicitation Description:

The System is acceptingresponses to a Request for Proposal (RFP) in connection with the award of acontract, in accordance with the terms, conditions, and requirements set forthin this RFP, for custody services, as more fully described herein, covering itsendowment fund and operating funds.

The EndowmentFund is a pooled, unitized fund consisting of approximately 1,688 sub-fundaccounts with a combined market value of $580.6 million as of 12/31/16. Theendowment fund assets are allocated among 65 investment managers. Please referto Exhibit C for a detailed list of the types of investment managers andcustody accounts currently being used by the System. Some of these managers areunder a directed brokerage arrangement with the System. The System uses FrankRussell Implementation Services for its commission recapture program. Anytransactional cash held by one or more of our separate account managers isautomatically invested at the end of the day in an AAAmf money market fundsponsored by the custodian. The System does not currently have a securitieslending program, and we do not anticipate establishing one; thereforeinformation concerning securities lending is not necessary. Periodic reportingis required at the pooled fund level, asset class level, manager level, andsub-fund account level.

Operating fundsof the System are separated into two parts: short term funds (STF) andintermediate term funds (ITF). The STF is unitized and totals $172.3 million asof January 31, 2017. Each of the components of the System owns a portion of theSTF. The STF invests in a nationally recognized AAAmf money market fund. Thecustodian’s institution will not be the fund sponsor for the money market fundsin which the System’s operating funds are invested. We currently provide writteninstruction to the custodian when we need to purchase or redeem shares from thefund sponsor.

The ITF is unitized and is comprisedof fixed income securities managed by an external investment manager. The fiveSystem components currently invest in the ITF. The ITF has a market value of$246.3 million as of January 31, 2017. Any transactional cash held by the ITFmanager is automatically invested at the end of the day in a AAAmf money marketfund sponsored by the custodian. Reporting for the STF and ITF is by each ofthe five components of the System .

RESPONDENTSARE CAUTIONED TO READ THE INFORMATION CONTAINED IN THIS RFP CAREFULLY AND TOSUBMIT A COMPLETE RESPONSE TO ALL REQUIREMENTS AND QUESTIONS AS DIRECTED.

Anycontract resulting from this RFP will become effective upon the later of theeffective date indicated in the contract or the date that all parties havesigned the contract.

To view bid on Jaeggerwebsite: https://bids01.jaggaer.com/apps/Router/PublicEvent?CustomerOrg=UH

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RFP-783-UofH-3015 Custody Services

Description

See Also