Welcome! Login | Register
 

Side of the Rhode: Who’s Hot and Who’s Not - May 29, 2015—Every Friday, GoLocalProv's Russ Moore breaks down who…

NEW: Tom Brady’s Appeal Hearing Will be Held June 23—Tom Brady's Appeal Hearing Will be Held June…

Saul Kaplan: Stop Treating Business Model Innovation As Change Management—There’s plenty of time for change management once…

Gencarella: Let’s Leave It A Local Issue—The question “How did it get this way?”…

Finneran: Give Us This Day Our Daily Bread—In the pews are the people, and in…

Matt Light Announces Charity Event Related to Deflategate—Matt Light recently announced a fundraising campaign

ACLU of RI Files Lawsuit That Challenges 106-Year-Old Statute—The ACLU of Rhode Island filed a federal…

Councilman Hassett to Address Property Issues in Providence Neighborhood—Councilman Terrence M. Hassett (Ward Twelve) released a…

Providence Ranked 4th Most LGBT-Friendly City in U.S.—Providence, RI is the fourth most LGBT-friendly city…

FBI Charges Top FIFA Execs - What Does This Mean for Soccer?—In events that are still unfolding, nine FIFA…

 
 

slides: See How Much Providence Pays in Pension Fund Fees

Friday, November 22, 2013

 

How much does the City of Providence pay in management fees for its pension fund investments?  

A look at a recent report submitted earlier this yearby Wainwright Investment Counsel show that the average fee amount at .57% on the more than $250,000,000 market value of managed assets --  and near the top of the fee structure, at 1.5%, is the fee for the City's investment in Point Judith Capital.  

See the fee strutcture for all of the city's investments -- BELOW.  

 

Related Slideshow: See How Much Providence Pays in Pension Fund Fees

Per investment information obtained by GoLocal, the following are the management fees paid by the City of Providence Employees Retirment System (as of April 2013 -- Graham Global funds were moved at the last city Investment commission meeting).  

Prev Next

Manager: Halpern Denny III

Manager Effective Fee: 0.0%

Asset Class: Private Equity

Assignment: Private Equity

Market Value: $188,318

% of Total Fund: 0.1%

 

Note: Fund is in liquidation.

Prev Next

Manager: William Blair VII

Manager Effective Fee: 0.0%

Asset Class: Private Equity

Assignment: Private Equity

Market Value: $434,649

% of Total Fund: 0.2%

 

Note: No further management fee is charged in 2013 other than a $2000 charge anticipated from January 2013 to mid March 2013. Fund is in liquidation.

Prev Next

Manager: SSgA Russell 2000 Growth

Manager Effective Fee: 0.08%

Asset Class: Equity Managers

Assignment: Small Growth (Index)

Market Value: $10,415,062

% of Total Fund: 3.9%

 

Note: Subject to $10,000 min annual fee.

Prev Next

Manager: SSgA Russell 1000 Growth

Manager Effective Fee: 0.08%

Asset Class: Equity Managers

Assignment: Large Growth (Index)

Market Value: $6,811,160

% of Total Fund: 2.6%

Note: Subject to $10,000 min annual fee

Prev Next

Manager: Vanguard MG ETF

Manager Effective Fee: 0.10%

Asset Class: Equity Managers

Assignment: Mid Growth

Market Value: $7,635,410

% of Total Fund: 2.9%

Prev Next

Manager: Invesco Venture Fund III

Manager Effective Fee: 0.25%

Asset Class: Private Equity

Assignment: Venture Fund of Funds

Market Value: $1,627,627

% of Total Fund: 0.6%

Note: Fee reduced to 0.25% in Q4-2013.

Prev Next

Manager: Columbia (Fleet)

Manager Effective Fee: 0.30%

Asset Class: Cash

Assignment: Large Value

Market Value: $397,606

% of Total Fund: 0.1%

Note: Subject to $15,000 min annual fee.

Prev Next

Manager: Columbia (ValuePath)

Manager Effective Fee: 0.37%

Asset Class: Equity Managers

Assignment: Large Value

Market Value: $20,453,356

% of Total Fund: 7.7%

Note: Columbia (Value Path): 0.40% on first $10m/0.35% on next $15m/0.30% on next $75m/0.25% on remainder.

Prev Next

Manager: Mellon (Prov Group)

Manager Effective Fee: 0.50%

Asset Class: Equity Managers

Assignment: Large Growth

Market Value: $6,641,213

% of Total Fund: 2.5%

Prev Next

Manager: Renaissance Installation Equity Fund

Manager Effective Fee: 0.50%

Asset Class: Hedge Funds

Assignment: Long/Short Equity

Market Value: $34,779,679

% of Total Fund: 13.0%

Note: Additional performance fee of 10%.

Prev Next

Manager: Q-BLK (Quellos) Strategic

Manager Effective Fee: 0.50% Min

Asset Class: Hedge Funds

Assignment: Fund of Funds

Market Value: $11,120,033

% of Total Fund: 4.2%

Note: The quarterly advisory fee paid to the Investment Manager is 0.1250% (0.50% per annum) of the Fund’s net assets on a quarterly basis when the Fund’s quarterly return is equal to or less than the return on the 90-day US Treasury bills plus 1.25%. The advisory fee will ratably increase, depending on the Fund’s performance, up to a maximum of 0.6250% per quarter (2.50% per annum).

Prev Next

 

Manager: Rogge Global Partners

Manager Effective Fee: 0.65%

Asset Class: Fixed Income

Assignment: Foreign Bonds

Market Value: $14,033,078

% of Total Fund: 5.3%

 

Prev Next

Manager: Boston Partners MV

Manager Effective Fee: 0.70%

Asset Class: Equity Managers

Assignment: Mid Value

Market Value: $24,556,046

% of Total Fund: 9.2%

Note: Boston Partners-MV: 0.70% on first $25m/0.60% on remainder.

Prev Next

Manager: Brandes

Manager Effective Fee: 0.74%

Asset Class: Equity Managers

Assignment: Foreign Equity

Market Value: $39,824,387

% of Total Fund: 14.9%

Note: Brandes Partners: 0.95% on first $10m/0.80% on next $10m/0.60% on next $30m/0.50% on remainder.

Prev Next

Manager: Boston Partners SV

Manager Effective Fee: 0.99%

Asset Class: Equity Managers

Assignment: Small Value

Market Value: $25,886,408

% of Total Fund: 9.7%

Note: Boston Partners-SV: 1% on first $25m/0.80% on remainder.

Prev Next

Manager: Point Judith II

Manager Effective Fee: 1.50%

Asset Class: Private Equity

Assignment: Private Equity

Market Value: $1,174,791

% of Total Fund: 0.4%

Note: Management fee is charged on committed capital and is equal to 2.5% during the first six years of the fund; 1.5% for the next two years and 1.0% thereafter. Point Judith also charges a performance fee of 20%.

Prev Next

Manager: Graham Global II*

Manager Effective Fee: 3.0%

Asset Class: Hedge Funds

Assignment: Global Macro

Market Value: $5,426,857

% of Total Fund: 2.0%

Note: Additional performance fee of 25%

 

 

 

 
 

Related Articles

 

Enjoy this post? Share it with others.

 
 
:)