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Jacksonville council approves two-year advisory agreement with Deep Blue Investment Advisors
Summary
The Jacksonville City Council authorized the city manager to enter a two-year agreement with Deep Blue Investment Advisors to provide discretionary portfolio management and reporting for municipal funds; council discussed fees, bond‑proceeds limits and risk before approving the contract unanimously.
Jacksonville — The Jacksonville City Council voted to allow the city manager to enter a two‑year agreement with Deep Blue Investment Advisors to provide investment advisory services for the city’s portfolio, the council approved unanimously during its April meeting.
The agreement authorizes Deep Blue to advise and make discretionary trades within the city’s portfolio subject to the Public Funds Investment Act and the city’s adopted investment policy, for an annual flat fee of $25,000. Staff said the firm would manage approximately…
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