Oktibbeha County Civicplus #20261014-002

Fiduciary investment management and trust advisory services for Oktibbeha County’s $55 million Reserve and Trust Fund

Oktibbeha County, Mississippi, is seeking a fiduciary to manage and advise its $55 million Reserve and Trust Fund. - Government buyer: Board of Supervisors of Oktibbeha County, acting as Board of Trustees of the Oktibbeha County Reserve and Trust Fund; Office of the County Administrator. - OEMs and vendors: No specific OEMs, investment firms, or custodians are named. Eligible proposers are qualified state- or federally chartered banks or trust companies authorized to operate in Mississippi. - Requested services: Discretionary investment management and Investment Policy Statement development; independent custody coordination; trust advisory and fiduciary services; quarterly performance, benchmark, attribution, and risk reporting; CPI-U inflation-adjusted corpus-floor calculations; distribution calculations and annual certification; and annual audited compliance statements. - Fund and fees: The initial corpus is $55 million. Total annual fees are capped at 0.50% of Fund assets. - Notable requirements: At least four in-person Board meetings per fiscal year; an independent federally regulated custodian with at least $1 trillion in assets under custody; and adherence to the 36-month trailing 4% spending cap. Other stated qualifications include at least 15 years exercising trust powers, $15 billion in consolidated banking assets, $1 billion in trust-division AUM/AUA, and experience administering at least three comparable endowments of $25 million or more. - Risk and oversight requirements: Proposers must accept full fiduciary liability, carry specified professional-liability and fidelity-bond coverage, provide annual SSAE 18 SOC 1 Type II and SOC 2 Type II reports, and supply at least five years of balanced-endowment performance records. - Term: Five-year initial contract term.

Description

Oktibbeha County is requesting sealed proposals from qualified chartered institutional fiduciaries to manage investments and provide fiduciary and trust advisory services for the Oktibbeha County Reserve and Trust Fund, which has an initial corpus of $55 million. Services include discretionary investment management, coordination with an independent third-party custodian, quarterly performance reporting, CPI-U indexed inflation-adjusted floor calculations, and annual audited compliance statements. The contract term is five years, and the proposal deadline is November 23, 2026, at 2:00 PM Central Time. Proposals must include eight bound, tabbed physical copies and one USB drive.

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