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City of Pleasanton
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CITY CLERK
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AGENDA PACKETS
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2018
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060518
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5/30/2018 11:34:13 AM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
6/5/2018
DESTRUCT DATE
15Y
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Investment Authority: Except as otherwise noted, the Trustee, US Bank, has delegated <br /> investment authority to HighMark Capital Management, an SEC-registered investment adviser. <br /> Investment Manager has full investment discretion over the managed assets in the account. <br /> Investment Manager is authorized to purchase, sell, exchange, invest, reinvest and manage the <br /> designated assets held in the account, all in accordance with account's investment objectives, <br /> without prior approval or subsequent approval of any other party(ies). <br /> Investment Objectives and Constraints <br /> The goal of the Plan's investment program is to provide a reasonable level of growth which, will <br /> result in sufficient assets to pay the present and future obligations of the Plan. The following <br /> objectives are intended to assist in achieving this goal: <br /> • The Plan should seek to earn a return in excess of its policy benchmark over the life of <br /> the Plan. <br /> • The Plan's assets will be managed on a total return basis which takes into consideration <br /> both investment income and capital appreciation. While the Plan Sponsor recognizes the <br /> importance of preservation of capital, it also adheres to the principle that varying degrees <br /> of investment risk are generally rewarded with compensating returns. To achieve these <br /> objectives, the Plan Sponsor allocates its assets (asset allocation) with a strategic <br /> perspective of the capital markets. <br /> Investment Time Horizon: 2-3 years <br /> Anticipated Cash Flows: A portion of the assets in the Plan will fund the actuarial <br /> determined contribution to the CaIPERS Trust. <br /> Investment Objective: The primary objective is to generate additional income while <br /> maintaining a relatively stable asset base as the assets in this <br /> Plan will be used to fund Pension Plan obligations. <br /> Risk Tolerance: Conservative <br /> The account's risk tolerance has been rated Conservative, which <br /> demonstrates that the account can accept low price fluctuations <br /> to pursue its investment objectives. <br /> City of Pleasanton Employee Benefit Fund Pension Plan <br /> Investment Guidelines Document—HighMark Capital Management, Inc. <br /> (v. 04-18-2018-RY) 3 <br />
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