PERAC |
Regulation Number |
Investment Regulation/Supplemental Regulation |
| September 8, 2008 | 16.08 | In accordance with Investment Guideline 99-3, the Brookline Retirement Board is authorized to invest in INVESCO Venture Partnership Fund V, L.P. The Board has been a satisfied investor in a predecessor fund. Performance has been good and the portfolio management team is essentially unchanged. The manager has submitted an updated Exemption Application. |
September 24, 2007 |
16.08 |
The Brookline Retirement Board is authorized to invest in State Street Global Advisors’ MSCI-EAFE Fund on a temporary basis. After several months of having the firm on “watch” due to long-term underperformance, the Board voted to terminate its previous international equity manager, The Boston Company, on September 18, 2007. The SSgA fund was selected for this mandate because the Board has two existing index fund relationships with the firm and SSgA offered the lowest cost, most efficient option. |
September 24, 2007 |
16.08 |
The Brookline Retirement Board is authorized to invest in State Street Global Advisors’ Lehman Aggregate Index Fund. At its September 18, 2007 meeting, the Board terminated its investment grade bond mandate with BlackRock for long-term underperformance. The SSgA fund was selected for this mandate because the Board has two existing index fund relationships with the firm and SSgA offered the lowest cost, most efficient option. |
May 7, 2007 |
16.08 |
In accordance with Investment Guideline 99-3, the Brookline Retirement Board is authorized to invest in HarbourVest Partners VIII. The Board has been a satisfied investor in HarbourVest’s predecessor fund, which has had a strong return to date. The management team remains essentially intact, the strategy is unchanged, and the Board has submitted the required updated regulatory documents. |
June 28, 1999 |
21.01 |
The Brookline Retirement Board has authorized State Street Research & Management Company to utilize financial futures and options in the management of its fixed income portfolio. These instruments will be used solely as tools to manage portfolio risk with regard to such measures as duration, convexity, and yield curve analysis. Use of these instruments is limited to 25% of the total value of the fixed income portfolio. (All other Prohibited Investments of 21.01 still apply). |
March 7, 1996 |
20.03(1) |
Equity investments shall not exceed 60% of the total book value of the portfolio at the time of purchase. |
November 11, 1995 |
20.06(8)
|
Purchases and sales of fixed income investments with maturities exceeding one year shall not exceed 200% of the market value of all fixed income obligations in any twelve month period, excluding cash and short term obligations. Purchases and sales of equity investments shall not exceed 100% of the average market value of all equity holdings in any twelve month period. |
February 21, 1992 |
4.03: |
Copies to be Sent to PERA Within four (4) weeks of the close of each month, after all entries for the month have been posted and a trial balance performed, the board shall send to the Public Employee Retirement Administration a photocopy of the following for the month:
|
February 20, 1991 |
16.02(4) |
The board may charge custodian bank expenses against earned income from investments in an amount not to exceed $29,763.96. |
December 11, 1991 |
16.02(3)
16.02(4) |
The board may incur expenses for investment advice or management of the funds of the system by a qualified investment manager and the board may incur expenses for consulting services. Such expenses may be charged against earned income from investments provided that the total of such expenses shall not exceed in any one year:
The board may employ a custodian bank and may charge such expenses against earned income from investments provided that such expenses shall not exceed in any one year .08% of the value of the fund. |
September 12, 1990 |
20.03(1) |
Equity investments shall not exceed 50% of the total book value of the portfolio at the time of purchase. |
August 24, 1989 |
20.03(4)
|
International equity and fixed income investments shall not exceed 15% of the total portfolio valued at market. Foreign corporations and obligations issued and guaranteed by foreign governments. Equity investments shall be made only in securities listed on a United States stock exchange, traded over the counter in the United States or traded in foreign stock markets. |
February 9, 1989 |
4.03(1)
4.03(2) |
Within four (4) weeks of the close of each month, after all entries for the month have been posted and a trial balance performed, the board shall send to the Public Employee Retirement Administration a
The board shall instruct its custodian bank to send to the Public Employee Retirement Administration a tape of daily cash settlement activity and purchase and sale transaction information within four (4) weeks of the close of each month. |