STATE COMPENSATION INSURANCE FUND
BOARD OF DIRECTORS
Investment Committee
February 14, 2013
12:00 Noon
State Compensation Insurance Fund Office
333 Bush Street, 7th floor
San Francisco, CA 94104
COMMITTEE MEMBERS
Sen. Michael J. Machado (Ret.), Chair
Donald E. Garcia
Scott K. Reid
Francis E. Quinlan (Alternate)
| OPEN SESSION | Thursday, February 14, 2013 @ 12:00 p.m. |
|
| Action/Michael Machado | 1. | Call to Order and Roll Call |
| Action/Michael Machado | 2. | Antitrust Admonition |
| Action/Michael Machado | 3. | Approval of November 15, 2012 Open Meeting Minutes |
| Action/Stephanie Chan | 4. | Approval of Investment Transactions |
a. |
Bond Transactions | |
b. |
Compliance Report | |
| Information/Wellington Management Company |
5. | Economic and Investment Outlook |
| Information/Michael Machado | 6. | Public Comment on Appropriateness of Closed Session for Items 9 through 11. |
Information/Michael Machado |
7. | Public Comment |
| CLOSED SESSION | ||
| Action/Michael Machado | 8. | Approval of November 15, 2012 Closed Meeting Minutes |
| Information/Peter Guastamachio | 9. | Portfolio Performance Results [Government Code Section 11126(j)(4)] |
Information/Wellington |
10. | Investment Manager’s Investment Strategy [Government Code Section 11126(j)(4)] |
Information/Michael Machado |
11. | Financial and Investment Considerations Related to the Strategic Plan [Government Code Section 11126(j)(4)] |
a. |
Equity Investment Policy: Peer Review Comparison | |
b. |
Default Risk vs. Yield Benefit of Investment Grade Corporate Bonds | |
c. |
Review of Investment Policy Statement and Guidelines | |
d. |
Review of Federal Home Loan Bank Membership | |
| OPEN SESSION | 1:15 p.m. or upon adjournment or recess of the Closed Session, whichever is later | |
| Action/Michael Machado | 12. | Call to Order and Roll Call |
| Action/Michael Machado | 13. | Approval of Investment Policy Statement and Guidelines |
| Action/Michael Machado | 14. | Approval of Federal Home Loan Bank Membership Resolution |
| Information | 15. | Committee Member Presentations |
| Information/Michael Machado | 16. | Proposals and Suggestions for May 16, 2013 Agenda |
| Next Committee Meeting: May 16, 2013 | ||
| Note: Items designated for information are appropriate for Board/Committee action if the Board/Committee wishes to take action. Any agenda item from a properly noticed Committee meeting held immediately prior to this Board meeting may be considered by the Board. Agenda items may be taken out of order with the approval of the Chairperson. Public comment will be limited to three (3) minutes per speaker and ten (10) minutes per subject item. | ||
