2401 Colonial Drive, 3rd Floor
Helena, Montana
Monday, June 14, 2004
AGENDA
|
I.
|
CALL TO ORDER |
9:30 a.m.
|
|
|
|
A.
|
Roll Call |
|
|
|
B.
|
Approval of the April 23, 2004 Regular Meeting Minutes |
|
|
II.
|
PUBLIC COMMENT |
9:35 a.m.
|
|
|
A.
|
Public Comment on Board-Related Items |
|
|
|
III.
|
SPECIAL REPORTS/RECOMMENDATIONS |
9:45 a.m.
|
|
|
A.
|
RFP Sub-Committee Reports/Recommendation(s) - Will be mailed separately | ||
|
B
|
Investment Process Report/Recommendation(s) | ||
|
IV.
|
EXECUTIVE DIRECTOR REPORTS - Carroll South |
10:45 a.m.
|
|
|
A.
|
Budget Status Report |
|
|
|
V.
|
BOND PROGRAM - Louise Welsh |
11:00 a.m.
|
|
|
A.
|
INTERCAP | ||
| 1. Activity Summary | |||
| 2. Staff Approved Loans Report | |||
| 3. Loan Requests | |||
|
VI.
|
CHIEF INVESTMENT OFFICER REPORTS - Jim Penner, CFA |
11:15 a.m.
|
|
|
A.
|
Economic Overview - Newsletter | ||
|
B.
|
Asset Allocation | ||
|
C.
|
Asset Allocation - Plan 2005 Revisions | ||
|
D.
|
Recommendation - Residential Loan Program | ||
|
E.
|
Peer Comparisons | ||
|
VII.
|
MONTANA LOAN PROGRAM - Delrene Rasmussen |
12:30 p.m.
|
|
|
A.
|
Consider Commercial/Multi-Family Loans | ||
| 1. CTA Building, LLC. | |||
| 2. Big Sky Economic Development Authority - Infrastructure Loan Request | |||
|
B.
|
Recommendation - The Lodge at Whitefish Lake, LLC. | ||
|
C.
|
Pension Mortgage Program Activity Report - April | ||
|
D.
|
Coal Tax Loan Program Activity Report - April | ||
|
E.
|
Approved Lenders | ||
|
VIII.
|
INVESTMENT ACTIVITY - Equity |
12:45 p.m.
|
|
| A. | Domestic Equities (Montcomp) - Rande Muffick, CFA | ||
| 1. Transactions - April | |||
| 2. Holdings Report | |||
| 3. Strategy | |||
| B. | Montana Private Equity Pool (MPEP) - Ed Kelly | ||
| 1. Transactions - April | |||
| 2. Holdings Report | |||
| 3. Recommendation - WCAS Captial Partners Fund | |||
| C. | Montana International Equity Pool (MTIP) - Rich Cooley, CFA | ||
|
IX.
|
INVESTMENT ACTIVITY - Fixed Income | ||
| A. | Intermediate Funds - Rich Cooley, CFA | ||
| 1. Treasurer's Fund Transactions - April | |||
| 2. Treasurer's Fund Holdings Report | |||
| 3. State Fund Transactions - April | |||
| 4. State Fund Holdings Report | |||
| 5. Strategy | |||
| B. | Long Term Funds - Bob Bugni, CFA | ||
| 1. Fixed Income Transactions - April | |||
| 2. Strategy | |||
| 3. Periodic Reports | |||
| a. Non-Investment Grade Holdings | |||
| b. U.S Government Agency Holdings | |||
| 4. Investment Policy Statements | |||
| a. Treasure State Endowment Regional Water Funds | |||
| b. Treasure State Endowment Funds | |||
| c. Permanent Coal Trust Funds | |||
|
X.
|
INVESTMENT ACTIVITY - FYI Items | ||
|
A.
|
Montcomp Portfolio Additions | ||
| Citrix Systems | |||
| Flextronics Int'l | |||
| Motorola | |||
| Qualcomm | |||
| Tribune | |||
| United Health Group | |||
| Vishay Intertech | |||
|
B.
|
STIP Transactions/Holdings Report | ||
|
C.
|
Security Lending Report | ||
|
D.
|
Market Perspectives | ||
|
E.
|
MPEP FYI Items | ||
|
F.
|
BNY Securities Group - Soft Dollar Update | ||
|
G.
|
Educational Opportunities / Conferences / Seminars | ||
|
H.
|
External Active Manager Portfolio Holdings | ||
|
XI.
|
ADJOURNMENT |
3:30 p.m.
|
|
| The Board of Investments makes reasonable accommodations for any known disability that may interfere with a person's ability to participate in public meetings. Persons needing an accommodations must notify the Board (call 444-0001) or write to P.O. Box 200126, Helena, Montana 59620) no later than three days prior to the meeting to allow adequate time to make needed arrangements. | |||