Last Modified on 07/02/2009 15:47:01
NOTICE OF RESULTS
CITY OF PHOENIX EMPLOYEES’ RETIREMENT BOARD
INVESTMENT COMMITTEEPursuant to A.R.S. Section 38-431.02, notice is hereby given to the members of the CITY OF PHOENIX EMPLOYEES’ RETIREMENT BOARD, INVESTMENT COMMITTEE and to the general public, that the INVESTMENT COMMITTEE held a meeting open to the public on, May 20, 2009, at 9:00 a.m. located in the Subcommittee Room, 2nd Floor, Historic City Hall, 17 South 2nd Avenue, Phoenix, Arizona. (Enter through the west door. If locked, use 1st floor entrance under the steps and press the intercom button to inform security that you want to attend the City of Phoenix Employees’ Retirement Board Meeting.) One or more members may participate via teleconference.
Notice is further given that a quorum of the City of Phoenix Employees’ Retirement Board may be in attendance at this meeting. This meeting is not, however, a meeting of the City of Phoenix Employees’ Retirement Board.
The results of the meeting were as follows:
RESULTS
9:04
1.
Approved
2.
Approval of Investment Committee Minutes of April 15, 2009
Discussion and possible Committee action
No action
3.
Consideration of Excess Benefit Arrangement Trust Report
Discussion and possible Committee action
No action
4.
Consideration of Commission Recapture Statement
Discussion and possible Committee action
No action
5.
Consideration of Securities Lending Earnings Report
Discussion and possible Committee action
No action
6.
Proxy Vote Summary Report
a)
AXA Rosenberg – 1st Quarter 2009
b)
Cadence Capital Management – 1st Quarter 2009
c)
Cramer Rosenthal McGlynn – 1st Quarter 2009
d)
Dimensional Fund Advisors – 1st Quarter 2009
e)
Eagle Asset Management – 1st Quarter 2009
f)
GMO – International Intrinsic Value Fund – 1st Quarter 2009
g)
Pyramis Emerging Markets Commingled Pool –
1st Quarter 2009
h)
Pyramis Global Advisors – International Growth Commingled Pool – 1st Quarter 2009
i)
The Boston Company – 1st Quarter 2009
Discussion and possible Committee action
No action
7.
Consideration of and Appropriate Action Regarding Organizational Changes: Grantham, Mayo, Van Otterloo & Co.
Discussion and possible Committee action
No action
8.
Consideration of Correspondence from Wells Capital Management Regarding Downgrade of Chrysler Dealer Floorplan ABS Bonds
Discussion and possible Committee action
No action
9.
Consideration of and Appropriate Action Regarding Organizational Changes: Western Asset Management
Discussion and possible Committee action
No action
10.
Consideration of Correspondence from Western Asset Management Regarding Downgrade of Bank of America Bonds
Discussion and possible Committee action
No action
11.
Consideration of Correspondence from Western Asset Management Regarding Downgrade of Countrywide Alternative Loan Trust Bonds
Discussion and possible Committee action
No action
12.
Consideration of Correspondence from Western Asset Management Regarding Downgrade of Glen Meadow Pass Through Bonds
Discussion and possible Committee action
No action
13.
Consideration of Correspondence from Western Asset Management Regarding Downgrade of Washington Mutual Non-Agency Mortgage Security
Discussion and possible Committee action
No action
14.
Consideration of Correspondence From Pyramis Regarding Administrative Fees
Discussion and possible Committee action
Executive Session
Pursuant to A.R.S. Section 38-431.03.A.3, the Committee may vote to convene in Executive Session for discussion or consultation with the Committee’s attorney for legal advice regarding items 15 and 16. The Committee will vote on actions to take on these items in open session.
No action
15.
Consideration of and Appropriate Action Regarding Class Action Lawsuit – Northern Trust
Discussion and possible Committee action
No action
16.
Consideration of and Appropriate Action Regarding Class Action Lawsuit – State Street
Discussion and possible Committee action
Recommend renewal
17.
Consideration of Contract Renewal – JP Morgan Investment Management (expires 10/16/2009)
Discussion and possible Committee action
Recommend renewal
18.
Consideration of Contract Renewal – Morgan Stanley Real Estate Advisor (expires 10/23/2009)
Discussion and possible Committee action
None
19.
Future Agenda Items
Informational
No response
20.
Call to the Public
Info only
21.
Next Committee Meeting: Wednesday, June 24, 2009 –
Historic City Hall, Second Floor, Subcommittee Room
Informational
9:34
22.
Close Session
For further information, please call Paula Whisel, Secretary III, Retirement Systems at 602-534-4400.
For reasonable accommodations, call Paula Whisel at Voice/602-534-4400 or TTY/602-534-5500 as early as possible to coordinate needed arrangements.
Printed: May 14, 2009