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SOQ-22-041 Investment Manager for the Parish of Jefferson
Louisiana > Jefferson Parish Government
SOQ: 59823709

IMPORTANT ANNOUNCEMENTS

Bid Law Requirement Update: Act 406
Vendors will be required to submit certain documentation with SOQ submission, i.e. affidavits, proof of insurance, etc. These requirements will be outlined specifically in the instructions of each SOQ package. Vendors should continue to carefully read and respond accordingly per the requirements of the SOQ packages. These changes are pursuant Louisiana Public Bid Law more specifically, Act 406 of the 2016 Louisiana Legislative Regular Session. For the purposes of this communication, this change applies to Jefferson Parish Government bid solicitations only. For more information, please call Jefferson Parish Purchasing at 504-364-2678.

Electronic Bond Submission May Be Required
If the SOQ documents require a surety, vendors submitting responses to Jefferson Parish through this site must submit an electronic bond through the respective online clearinghouse bond management system(s). You may click the link below to use: https://www.centralauctionhouse.com/central-bidding/bid-bonds

SOQ Submittal Formats:

While this site accepts various file types, sizes and quantities, the preferred method for delivering all of the appropriate and required SOQ documents is one single scanned PDF file. Vendors submitting a SOQ with multiple uploaded images/photos of bid responses are solely responsible for clarity. If uploaded images/documents are not legible, the vendors submission will be rejected. Please note all requirements in this SUBMITTAL package for electronic SOQ submission.

NOTICE:

TO RESPOND TO THIS SOLICITATION, PLEASE PRINT THE ENTIRE SOQ FORM INCLUDING THE INSTRUCTIONS. COMPLETE THE SOQ FORM AND ATTACH ANY SPECIFICATIONS OR ADDITIONAL REQUIRED DOCUMENTS. SCAN THE ENTIRE SOQ RESPONSE AND UPLOAD TO THE ONLINE BIDDING SITE. ENSURE THAT YOU HAVE REVIEWED ALL INSTRUCTIONS THAT APPLY TO THIS SOQ, AS THE REQUIREMENTS FOR BOND SUBMISSIONS HAVE CHANGED.

Listing Information/Advertisement
PUBLIC NOTICE                                                           SOQ 22-041
 
                                       Investment Manager for the Parish of Jefferson
 
The Parish of Jefferson, authorized by Resolution No. 139969, is hereby soliciting Statements of Qualifications from firms/individuals interested in serving as Investment Manager for the Parish by actively trading the portfolio managed within the Parish’s Investment Policy guidelines and according to state law. (Parish Wide)
 
Deadline for Submissions: 3:30 p.m., August 19, 2022
 
 
The Parishwide funds include approximately 6 accounts which are to be managed and reported on separately.  The allocation of these funds will consist of approximately 220 Treasury and Agency securities, 840 Municipal bonds (both taxable and tax exempt), and 3 Corporate Bonds.  The investment services will include liquidity management of operating funds requiring daily interaction with the Parish.  The Investment Manager will be responsible for maintaining compliance with state law as well as the internal investment guidelines and various bond indenture covenants of the Parish and its related entities.
 
Minimum Qualifications: Respondents must provide verification that they are a Securities and Exchange (SEC) Registered Investment Advisor. Respondent shall have at least one (1) firm representative who has at least five (5) years’ experience as a Registered Investment Management Advisor.
 
 The following criteria shall be used to evaluate the statements of the firms submitting:
 
Respondent’s understanding of Jefferson Parish’s overall investment program and the investment objectives and constraints unique to Jefferson Parish.35 points
B.        Professional training and experience of the firm/individuals assigned to this project and their past experience as investment managers of public funds for public agencies.                                  30 points
C.        Respondents provide evidence of errors and omissions insurance in effect at the time of submission and adequate financial resources to fund potential obligations resulting from malfeasance, inappropriate conduct and negligence.                                                   10 points
D.        Respondents provide a suggested fee schedule relative to services.  This will be used for negotiation purposes.
25 points
 
 
The person or firm submitting a Statement of Qualification (General Professional Services Questionnaire) must identify all subcontractors who will assist in providing professional services for the project, in the professional services questionnaire.  Each subcontractor shall be required to submit a General Professional Services Questionnaire and all documents and information included in the questionnaire.  (Refer to Jefferson Parish Code Ordinance, Section 2-928)
 
All individuals must submit a Statement of Qualifications (Jefferson Parish General Professional Services Questionnaire) by clicking on “Business with the Parish” under Business Services, and then clicking on “General Professional Services Questionnaire”. Submissions are to be submitted on the eProcurement site at www.jeffparishbids.net no later than 3:30 P.M. on August 19, 2022.         
 
These submissions will only be accepted electronically via the Parish’s e-Procurement system, Central Bidding. Central Bidding can be accessed by visiting either www.centralauctionhouse.com or www.jeffparishbids.net. All vendors will be required to register with Central Bidding. Jefferson Parish vendors are able to register for free by accessing the following link: www.centralauction.house.com/registration.          
 
No statements will be accepted after the deadline.
 
Affidavits are not required to be submitted with the Statement of Qualifications (Jefferson Parish Professional Services Questionnaire) but shall be submitted prior to contract approval.
 
Disputes/protests relating to the decisions by the evaluation committee or by the Jefferson Parish Council shall be brought before the 24th Judicial Court.
 
 
ADV: The New Orleans Advocate: July 20 and 27, 2022.

SUBMITTAL INFORMATION
Creator Username: DREAMEY
Submittal Privacy: Response Encryption
Started: 20-Jul-2022 12:08:00 PM
Ends: 19-Aug-2022 03:30:00 PM ( 15h, 51m+ )
History: 351 Views, 5 Messages
Event Status: Open
Actions: Sign-In to Bid
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Visitors: Visitors/Central Bidding Plan Holders
PUBLIC MESSAGE BOARD
Discuss questions with the owner/creator of this Listing.
DREAMEY on 25-Jul-2022 03:38:40 PM
1. I wanted to see why the search was being conducted – contract expiration of incumbent provider, standard due diligence purposes, seeking additional services, etc.? ANSWER: Contract expiration of incumbent provider. 2. I wanted to see what firm is currently providing the services? Will they be invited to rebid? ANSWER: Sisung Investment Management Services, LLC. Yes, they are invited to rebid. 3. What is the expected contract length/term for the selected provider? ANSWER: The expected contract length is 3 years beginning January 1, 2023 with one option to extend for an additional two year period. 4. Finally, I was looking for an approximate size of the parish's investment portfolio. If you are also able to provide a breakout of the size of the 6 accounts in the portfolio it would be helpful. ANSWER: Approximate size is $1,635,995,000.00. Also, there are now a total of 8 accounts. 1. GASB 75 (OPEB) 40,600,000.00 2. Pooled Cash 1,087,000,000.00 3. 2019 Sales Tax Bond Proceeds 212,271,000.00 4. 2022 Waterworks Bond Proceeds 176,074,000.00 5. Sales Tax Revenue 3,525,000.00 6. Water Meter Deposits 16,620,000.00 7. 2022 Sewerage Bond Proceeds 90,727,000.00 8. 2022 Culture/Parks Bond Proceeds 9,178,000.00 5. Has the parish employed an investment manager previously? ANSWER: Yes 6. If so, which firm was used, and can they rebid? ANSWER: Sisung Investment Management Services, LLC. Yes, they are able to resubmit a new SOQ.
NANCYBANKER on 02-Aug-2022 08:44:32 AM
Can you please provide the Investment Policy and current holdings?
DREAMEY on 02-Aug-2022 01:37:51 PM
QUESTION: Can you please provide the Investment Policy and current holdings? ANSWER: The answers have been done as a attachment to the SOQ.
publictrust2 on 16-Aug-2022 12:49:04 PM
Are we to respond to A-D of the Public Notice in addition to the Professional Services Questionnaire?
DREAMEY on 16-Aug-2022 02:31:08 PM
ANSWER: The question below refers to the criteria that will be used to evaluate each submittal. Letter C and Letter D ask that the proposed vendor provide specific documents, such as (C) evidence of errors and omissions Insurance and (D) Suggested fee schedule. The vendor should provide those documents. Regarding Letters A and B, the vendor should respond by providing any information that wasn't already included in the Professional Services Questionnaire, that would provide insight to the committee on the proposed vendor's (A) overall understanding and (B) professional training and experience.
UPDATE/ADDENDUM HISTORY
All updates/changes are listed below::
02-Aug-2022 01:34:36 PM
ANSWERS TO QUESTIONS ON PUBLIC MESSAGE BOARD SEE ATTACHED.