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MOI Trust board urges ordinance unchanged, says trust manager must have institutional investment experience
Summary
Representatives of the MOI Trust Board told the Assembly budget committee they support an ordinance to create a designated trust manager with institutional investment experience, said the measure was approved by voters in 2023, and reported minor budget adjustments including removal of an $80,000 training line item.
Representatives of the MOI Trust Board told the Anchorage Assembly’s budget committee that the board supports the pending ordinance to designate a trust manager and urged the Assembly to pass it as written when it returns on May 20.
The trust board said the manager position must hold “institutional investment” experience and that the proposed staffing and budget changes primarily reallocate existing costs rather than increase the net cost of the trust.
Chair Slifka, chair of the MOI Trust Board, said the board’s objective is “to meet our fiduciary duty in consistent with both the charter and the code,” and repeated the board’s recommendation that the trust have “a trust manager who very specifically possesses significant institutional investment management.” Slifka said the board is indifferent about where that person sits inside…
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