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Board authorizes TCG asset portfolio program with 0.08% advisory fee
Summary
Trustees authorized TCG Management's Asset Portfolio program for district reserve investments; the advisory fee was stated as 0.08% and the recommendation cited Board Policy CDA (Local) governing investment officers.
Clint McLain presented alternatives for managing district reserve funds beyond TexPool and Lone Star and recommended authorizing TCG Management to provide investment advisory services. He said TCG's fee would be 0.08% and that the service includes monthly and quarterly reporting, full portfolio management, policy oversight and audit support.
The board approved the authorization under the auspices of Board Policy CDA (Local), which directs the superintendent or designated investment officer to manage investments with a priority on safety of principal while pursuing return. The motion passed with a recorded vote of 6–0 (1 absent).
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