Investment Management Services

Background
The St. Johns River Water Management District (the District) is seeking proposals from qualified Investment Managers to provide investment management services. The selected firm will act in a fiduciary capacity and must be registered with the Securities and Exchange Commission under the Investment Advisor’s Act of 1940.

The goal is to supervise and direct the District's investments, which as of September 30, 2024, totaled approximately $144 million, with $100 million available for investment purposes.

Work Details
The contract involves providing investment management services on a fee basis for a term of three years, from October 1, 2025, to September 30, 2028, with the possibility of two additional two-year renewals.

The selected firm will manage funds according to the District's Investment Policy and applicable Florida law. Custodial services are excluded from this solicitation. The firm must not sell or buy securities from its own inventory account and must not include securities issued by itself or its affiliates in the District's portfolio.

The successful respondent must adhere to fiduciary standards and will be compensated based on an agreement with the District rather than transaction-based fees.

Period of Performance
The contract will commence on October 1, 2025, and will last for three years until September 30, 2028. It may be renewed for two additional two-year terms upon mutual written consent.

Place of Performance
The services will be performed primarily at the St. Johns River Water Management District Headquarters located at 4049 Reid Street, Palatka, Florida.