Treasury investment professionals handle cash management and short-term investing; however, for longer-term investment portfolios, Treasury uses the services of external investment managers.
These firms manage their assigned portfolios subject to oversight by Treasury’s Investment Committee and financial advisors. Specific duties include:
Discretionary investment management (decisions to buy, sell, or hold individual securities);
Submit investment performance reports;
Notify Treasury of any significant external factors, such as major changes in economic outlook or capital market trends, that may affect the investment portfolio; and
Notify the Deputy State Treasurer for Investments and the Investment Committee, in writing, when external events have caused the manager’s portfolio to include securities that are no longer consistent with the portfolio’s intended composition or discipline.
Treasury’s current investment managers:
Below is a list of Treasury’s current investment managers.
Avenue Capital Group
Blue Hill Investment Partners, L.P.
Chartwell Investment Partners
Clayton Perfilio, Ltd.
Community Capital Management
Credit Suisse Asset Management
DC Investors I, LLC
Emerald Advisers, Inc.
Federated Investment Counseling
ClearArc Capital, Inc. (Fifth Third)
Generation Investment Management US LLP
Macquarie Funds Management Inc.
Logan Circle Partners, L.P.
Mesirow Financial Investment Management
New Spring Capital
Pacers Advisors, Inc.
Philadelphia Trust Company
Princeton Advisory Group, Inc.
Queensboro Advisors, LLC
Selene Investment Partners LLC
Stoneridge Investment Management, LLC
Sound Point Capital Management
The Haverford Trust Company
The Swarthmore Group
Thornburg Investment Management
Valley Forge Asset Management Corp.
Vista Equity Partners
Weaver Barksdale & Associates
Potential investment managers:
Treasury encourages qualified firms to apply to become an investment manager for Treasury by completing and submitting the industry-standard PSN application.
In order to be considered, all managers must submit their product data and performance history to the PSN database by sending an e-mail to PSNdata@informais.com with the following information:
Name of the investment management firm
Name of the data contact who will be responsible for submitting the required information and communicating with Informa Investment Solutions (IIS) on any data issues