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City introduces Chandler Asset Management as new investment adviser
Summary
The committee heard an introductory presentation from Chandler Asset Management, the firm awarded the city's investment advisory contract (award April 7; transition completed July 16). Chandler outlined a 1–5 year reserve strategy, compliance practices and monthly/GASB reporting.
City staff introduced Chandler Asset Management, Inc. as the city’s newly selected investment adviser and hosted a presentation from Chandler representatives Mia Correll Brown and Carl Meng.
Lisa (Finance Director) said the contract was awarded to Chandler on April 7 and the transition was completed on July 16. Mia Correll Brown (regional director) described Chandler’s public-sector experience and compliance framework: “We were founded in 1988 … Chandler manages over $45,000,000,000 in assets,” and the firm is registered with the SEC under the Securities Act of 1940. Carl Meng, Chandler’s senior portfolio strategist, said the firm is recommending a 1-to-5-year strategy for reserve funds to take advantage of the term structure while maintaining liquidity for short-term needs.
Chandler said it will provide monthly and quarterly reporting, integrate the city’s investment policy into its Bloomberg Trade Order Management System to ensure compliance, and deliver GASB 40 and 72 information for the city’s ACFR. The presentation was introductory; staff stated no motion was required for this item.
