La. Admin. Code tit. 71 § I-117

Current through Register Vol. 50, No. 11, November 20, 2024

Section I-117 - Investment Consultants

A. Method of Selection. Should the state treasurer retain the services of an investment consultant, the treasurer shall choose a firm or individual to serve as an investment consultant for the LEQTF in accordance with all applicable Louisiana laws and rules regarding the process of choosing and contracting with professionals and consultants.

B. Minimum Criteria. Any investment consultant chosen must have at least five years of experience consulting accounts with assets greater than $250 million as well as experience conducting investment manager searches and performance measurement for public funds with total assets greater than $250 million.

C. Payment of Fees. Investment consultants shall be paid in arrears on a quarterly basis. All consulting fees shall be paid from the assets of the Support Fund.

D. Disclosure of Affiliations. Any consultant who is a broker/dealer or affiliated with a broker/dealer or investment manager must disclose the nature of the relationship. The investment consultant shall not receive compensation of any kind from any investment manager contracted by the state treasurer for management of the LEQTF.

La. Admin. Code tit. 71, § I-117

Promulgated by the Department of the Treasury, Office of the Treasurer, LR 21:476 (May 1995).

AUTHORITY NOTE: Promulgated in accordance with R.S. 17:3802(C)(4).