- Florida's Citizens Property Insurance Issues Invitiation to Negotiate for Investment Manager Services; Vendor Questions Due September 13
- September 6, 2013
- Law Firm: Colodny Fass Talenfeld Karlinsky Abate Webb P.A. - Fort Lauderdale Office
Florida's Citizens Property Insurance Corporation ("Citizens") issued an Invitation to Negotiate ("ITN") for Investment Manager services yesterday, September 4, 2013. The vendor ultimately selected would be responsible for managing a portion of Citizens' taxable and/or tax-exempt assets.
The would-be Investment Managers also will be responsible for managing Citizens' taxable fixed income portfolios and/or tax-exempt fixed income portfolios in accordance with the State-run insurer's investment policies. Responses are sought from registered investment advisors who meet Securities and Exchange Commission standards. Interested and qualified vendors may submit a response for managing taxable funds, tax-exempt funds or both.
The prioritized investment objectives are safety, protection and preservation of principal, and liquidity and competitive yields.
Questions about the ITN from vendors are due by September 13.
Following is a list of important dates relating to the ITN:
CALENDAR OF EVENTS
September 4, 2013
September 13, 2013
5:00 PM ET
September 20, 2013
October 2, 2013
2:00 PM ET
October 3-October 31, 2013
Review/Evaluation of Responses
November 7, 2013 (Anticipated)
Public Meeting for Evaluation Team to Determine Which Vendors to shortlist for Phase #1 of Presentations/Negotiations
November 14-November 21, 2013
December 5, 2013
Public Meeting for Negotiation Team to Determine Which Vendors to shortlist for Phase #2 of Presentations/Negotiations
December 11-16, 2013
December 19, 2013
Public Meeting for Negotiation Team to Make Best Value Determinations