PERAC Approval Date: January 5, 2012
Investment/Supplemental Regulation
The HCRB may forego the normal procurement process for an investment related service (840 CMR 16.08) and transfer assets from the Mellon Capital Management EB Daily Valued Global Alpha I Fund into the Mellon Capital Management EB Daily Valued Expanded Alpha I Fund.
PERAC Approval Date: March 23, 2011
Investment/Supplemental Regulation
Regulation Number 16.08: In accordance with Investment Guideline 99-3, the Hampshire County Retirement Board is authorized to invest in Ascent Venture Partners V. The Board has been a satisfied investor in Ascent’s two predecessor partnerships. The management team and strategy remain the same. The Board has submitted updated regulatory documents as well as financial data pertaining to its existing investments.
PERAC Approval Date: September 16, 2010
Investment/Supplemental Regulation
Regulation Number 16.04: The Hampshire County Retirement Board is granted an exemption from 840 CMR 16.04 which requires the board to designate a custodian bank to hold all its investment assets. This exemption reflects the following facts: 1) the Board now invests totally in commingled investment funds and 2) the Board has an experienced staff that has already been performing cash management functions in-house and is in the process of implementing an in-house accounting and tracking system.
This supplemental regulation supersedes the one previously approved on March 26, 2004 and which is hereby revoked.
This supplemental regulation is subject to revision or cancellation if and when the Board reverts to one or more separate account investment mandates.
While retirement boards are expected to use fiduciary judgment in the management of cash reserves, PERAC does not generally request information on the selection of specific vendors of cash management services.
PERAC Approval Date: August 15, 2008
Investment/Supplemental Regulation
Notwithstanding the provision of the Code of Massachusetts Regulation 840 CMR 21.01(2), (3)(a) & (b), (4)(a) & (b), and (5), the Hampshire County Retirement System through its duty constituted Retirement Board may invest funds of the Retirement System in the fund known as Shenkman Capital Management, Inc., General Partner of Credos Floating Rate Fund, L.P.
Shenkman Capital Management, Inc., General Partner of Credos Floating Rate Fund, L.P., shall not be subject to the existing provisions of 840 CMR 21.01(2), (3)(a) & (b), (4)(a) & (b), and (5), but shall be subject to the prohibited investment provisions under ERISA guidelines.
The prohibited investment provisions that apply to the Shenkman Capital Management, Inc., General Partner of Credos Floating Rate Fund, L.P., portfolio shall be defined relying upon ERISA statutory exemptions and the administrative class exemptions and regulations, specifically QPAM Exemption 84-14, as amended (“PTCE 84-14”), Prohibited Transaction Class Exemption 91-38 (“PTCE 91-38”) issued by the Department of Labor and other ERISA applicable regulations.
PERAC Approval Date: August 15, 2008
Investment/Supplemental Regulation
Notwithstanding the provision of the Code of Massachusetts Regulation 840 CMR 21.01(2), (3)(a) & (b), (4)(a) & (b), and (5), the Hampshire County Retirement System through its duty constituted Retirement Board may invest funds of the Retirement System in the fund known as Primus High Yield Bond Fund, L.P. Shenkman Capital Management, Inc., General Partner.
Primus High Yield Bond Fund, L.P. Shenkman Capital Management, Inc., General Partner, shall not be subject to the existing provisions of 840 CMR 21.01(2), (3)(a) & (b), (4)(a) & (b), and (5), but shall be subject to the prohibited investment provisions under ERISA guidelines.
The prohibited investment provisions that apply to the Primus High Yield Bond Fund, L.P. Shenkman Capital Management, Inc., General Partner, portfolio shall be defined relying upon ERISA statutory exemptions and the administrative class exemptions and regulations, specifically QPAM Exemption 84-14, as amended (“PTCE 84-14”), Prohibited Transaction Class Exemption 91-38 (“PTCE 91-38”) issued by the Department of Labor and other ERISA applicable regulations.
PERAC Approval Date: July 20, 2007
Investment/Supplemental Regulation
Regulation Number 21.01(2)(3)(4)(5): Notwithstanding the provisions of any statute or regulations of the Public Employee Retirement Administration Commission to the contrary, including the provisions of 840 CMR 21.01(2)(3)(4) and (5), the Hampshire County Retirement Board is hereby granted an exemption from restrictions on investment and may invest a portion of the funds of the Hampshire County Retirement System (the “System”) in the fund known as the EB Daily Valued Global Alpha I Fund of Mellon Capital Management Corporation.
PERAC Approval Date: January 12, 2004
Investment/Supplemental Regulation
Regulation Number 16.08: In accordance with PERAC Investment Guideline 99-3, the Hampshire County Retirement Board is authorized to invest in Ascent Venture Partners IV, L.P. The board has been a satisfied investor in Ascent Venture Partners III and has submitted updated regulatory documents pertaining to its current and future investments with Ascent.