INVESTMENT ADVISORY SERVICES
The City is seeking proposals from firms interested in providing investment advisory services to manage and direct the Citys investments. The successful firm would manage and direct the investment of excess funds in accordance with the Citys investment objectives as set forth in City of Miami Beachs Investment Policy. The key objectives of the Citys investment policy are safety of capital, sufficient liquidity to meet requirements and attaining marketaverage rates of return. Excess funds are defined as funds not required to meeting short term expenditures of the City. Currently, funds available for investment consist of approximately $400 million which include: $225 million from operating funds, $114 million from various bond proceeds, and $66 million from the Miami Beach Redevelopment Agency (RDA).
