HomeMy WebLinkAbout06.a.04 CA Transfer of Investment Account EXECUTIVE SUMMARY
AGENDA ITEM:
Transition of Investment Management Services
Date: July 21,2026
BACKGROUND:
Chandler Asset Management has notified CCUA that they will not be renewing their investment
management agreement. The remaining assets under Chandler's management consist primarily of longer-
term investments that originated with a previous investment management firm. As these investments have
matured, CCUA has transferred the available funds, leaving a relatively small amount of liquid assets for
active investment management.Based on the current composition of the portfolio,Chandler has determined
that it is no longer practical to continue providing investment management services.
Staff are in the process of transitioning the remaining investment portfolio to Truist Investments. CCUA
has maintained a longstanding and successful relationship with Truist through both its banking and
investment services. Truist is familiar with CCUA's financial operations and investment objectives,
providing continuity and minimizing disruption during the transition.
This transition will allow CCUA to consolidate its investment management with a trusted financial partner
while continuing to manage the portfolio in accordance with our Investment Policy and financial objectives.
Pursuant to CCUA's Procurement Policy, a competitive solicitation is not required for this engagement.
The policy specifically exempts professional services,including Financial Advisors,Financial Experts,and
Financial Services, from the competitive procurement process. Accordingly, CCUA may directly engage
Truist Investments to provide these services.
BUDGET:
There is no financial impact.
//KO (Author)
//KO (Final)