Non-Discretionary

Non-discretionary services require approval from our clients prior to the execution of each transaction. Non-discretionary management offers our public fund clients the opportunity to access outside resources, improve the existing investment management process, increase access to fixed income securities, and maintain control of the ultimate investment decision.

GPA is structured to serve public entities who are seeking experienced professionals to supplement and support their existing financial staff. We believe all public funds should maintain final approval of all investment decisions as the ultimate fiduciary responsibility resides with the Chief Financial Officer and Investment Boards. That is why our service emphasizes a clear and concise communication process with definitive investment guidelines, dynamic educational forums for investment staff and strong reporting procedures to support decision making.

Specific Tasks:

  • Create guidelines for the portfolio including an extensive review of investment policy
  • Develop investment strategies and benchmarking procedures
  • Determine appropriate average maturity and duration
  • Propose specific securities to be purchased within policy
  • Propose a plan to execute transactions
  • Establish a process to communicate specific purchases and an approval procedure on each transaction

GPA works in collaboration with each client’s financial staff to ensure that the investment program is implemented in a manner that is clearly identified in policy and practice. GPA incorporates a process that offers a high level of communication regarding portfolio strategy, market expectations, and trade execution. Through efficiencies in the investment management process, our clients can reduce the amount of time allocated to the management of the investment fund.