Utah Public Procurement Place U3P #SNOC26271023

Snow College Endowment and Foundation investment advisory and custodial services

Snow College is seeking a financial institution to advise on and/or safeguard its Endowment and Foundation investments. - Buyer: Snow College, Purchasing Department. - Services requested: - Non-discretionary investment advisory services for a portfolio of approximately $34 million, with additional funds expected. The advisor will recommend investment strategies and support portfolio reviews and implementation. - Custodial services for the Endowment and Foundation funds; vendors may propose custody alone or together with advisory services. - Monthly portfolio activity and performance reports, plus separate annual fiscal-year performance reports. Reporting must include relevant benchmarks and follow GAAP and GASB fair-value reporting requirements. - Notable requirements: Provide timely consultation and meet with College administration, trustees, Foundation representatives, and/or staff at least twice a year and as needed. Services must comply with applicable laws and College and Utah Board of Higher Education policies. The advisory role is non-discretionary. - Term: Intended five-year contract beginning upon award and signing; it may be ended with written notice. The documents cite both 30-day and 90-day notice provisions. - OEMs and named companies: No OEM or prospective investment-services vendor is identified. Huawei Technologies Company and ZTE Corporation are mentioned only in a certification restricting certain goods or services from those companies; they are not requested suppliers. - Products and quantities: No physical products, part numbers, or service-unit quantities are specified.

Description

Snow College is seeking proposals from qualified financial institutions to provide investment management and custodial services, or custodial services only, for its Endowment and Foundation investment funds. The funds total approximately $34 million, with additional funds expected to accrue during the contract term. Investment management services include advising the College and Snow College Foundation Board on investment strategy and providing regular performance reports with recommendations for adjustments. The selected firm must manage funds in compliance with applicable state and federal requirements, including State Board of Regents and Snow College policies.

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