Investment Advisory Services
The Board of Trustees (the Trust Board) of the Denver Public Schools Professional Compensation System for Teachers (ProComp) Trust (the Trust) hereby solicits proposals from qualified firms to provide investment advisory services for the Trust. The Trust Agreement was approved by the Board of Education of the Denver Public Schools (the District) on November 17, 2005. The first tax dollars from the November 1, 2005, Denver voter-approved mill levy were received February 10, 2006.
Effective August 9, 2006, via state legislative enactment of House Bill 06-1287, the types of securities the Trust can invest in are no longer restricted to those allowable by state statute for state and local governments. In February 2006, the Trust Board approved the District investing the Trusts funds in either of two local government investment pools, which is permissible under state statutes for school districts. Currently, this is the COLOTRUST Plus+ local government investment fund which is rated AAA by Standard & Poors, Moodys and Fitch. MBIA inc., one of the worlds largest financial guarantors, has pledged to provide net asset value protection of the assets of the
COLOTRUST Plus+ portfolio. The investment, of which the fair value was $20,778,668, as of June 30, 2006, is highly liquid in that it can be accessed in its entirety on any day. The value of the Trusts investments is projected to grow to approximately $250 million by 2015. In light of the statutory change, the Trust Board desires an investment advisory firm that will provide it the services listed on pages 11-13 of this Request for Proposal (the RFP).
