Investment Advisory services – Request for Proposals

United Way for Southeastern Michigan seeks an experienced firm to provide advisory and investment management services for two Board Designated Funds.

Funds Functioning as an Endowment

The Board designated fund has a balance of approximately $24 million. The current Investment Policy Statement is attached at the end of the RFP. The primary investment objective is to preserve the long-term purchasing power of the Fund’s assets after accounting for spending (currently 3 percent per year). This means that the Fund intends to seek, on average, a minimum total annual rate of return equal to inflation plus actual Fund spending over a perpetual investment time horizon. In order to have an opportunity to meet this primary objective, a long- term investment perspective is required when formulating investment strategy and evaluating spending levels.

The Fund has two secondary co-equal objectives. The first is to increase its long-term purchasing power after spending, which would require a total annual rate of return toexceed inflation plus Fund spending. The other secondary co-equal objective is to prudently diversify overall Fund risk as to mitigate the magnitude of intermediate-term investment losses that could jeopardize the Fund’s long-term mission.

Emergency Stabilization Fund

The Emergency Stabilization Fund has a balance of approximately $5.8 million with $1.5 million scheduled to be withdrawn in the next six months. The purpose of the Emergency and Stabilization Fund is to ensure stability during economic downturns. These funds can also be allocated to special projects or initiatives at the discretion of the Finance and Executive Committees with Board approval.

To request further information and to receive a copy of the RFP, please complete the following form. When the form is completed, you will receive a link.