Oktibbeha County Civicplus #20260715-001

Oktibbeha County Seeks Institutional Fiduciary for $55M Endowment Management

Oktibbeha County, Mississippi is seeking a qualified institutional fiduciary to manage its $55 million public endowment. - Government Buyer: - Oktibbeha County, Mississippi, acting through the Board of Supervisors as Trustees of the Oktibbeha County Reserve and Trust Fund - Office: Oktibbeha County Chancery Clerk - Services Requested: - Comprehensive discretionary investment management for a $55 million permanent public endowment - Custody coordination with an independent custodian bank - Quarterly and annual reporting, including CPI-U indexed inflation calculations - Preparation of annual audited compliance statements - General trust advisory services - Key Requirements: - Fiduciary must be a state- or federally chartered bank or trust company authorized in Mississippi and supervised by the Mississippi DBCF or OCC - Minimum 15 years of continuous trust powers - At least $15 billion in consolidated banking assets and $1 billion in trust division assets under management or administration - Management of at least three comparable endowment accounts of $25 million each - Minimum $20 million in E&O and fidelity bond insurance - Annual SOC 1 Type II and SOC 2 Type II audit reports - GIPS-compliant performance reporting - Independent custodian bank must have at least $1 trillion in assets under custody - Strict statutory fee cap of 0.50% and compliance with Mississippi law - Notable Exclusions: - Standalone RIAs, broker-dealers, and insurance agencies are not eligible - Proposal Submission: - Requires eight physical copies and one USB drive, with detailed corporate, regulatory, and performance information

Description

Oktibbeha County, Mississippi is soliciting proposals from qualified chartered institutional fiduciaries to provide comprehensive discretionary investment management, custody coordination, quarterly reporting, CPI-U indexed inflation calculations, annual audited compliance statement preparation, and general trust advisory services for the permanent public endowment of the Oktibbeha County Reserve and Trust Fund. The fund has an initial trust corpus of exactly $55,000,000.00. The selected fiduciary must meet specific qualifications including being a state- or federally chartered bank or trust company authorized to do business in Mississippi, maintaining significant banking assets, and complying with statutory mandates under Mississippi law. Proposals are due by 2:00 PM Central Time on August 31, 2026.

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