Chicago Teachers.

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beclear1
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132481
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Chicago Teachers.
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2012-02-02 17:40:15
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CHICAGO TEACHERS PRESENTATION 12
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OUTLINE OF MN PRESENTATION TO CPTF 2/3/12
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  1. ORGANIZATION/MANAGEMENT TEAM- SEE PG. 21
    • A. Our infrastructure is robust with clear delineations of duties for our Team's roles in :
    • I. Investments
    • II.Operations
    • III. Marketing/Client Services
  2. Each Team member has dual roles to provide:
    Backup & Strong coverage of duties and levels of redundancies.
  3. We outsource parts of our Operations to:
    maximize efficiency but we use CLASS A, INDUSTRY RECOGNIZED services providers that are known to provide HIGH LEVEL OF QUALITY:
    • ADVENT AXYS SYSTEMS: FOR TRADE EPORTING
    • ASHLAND PARTNER'S: FOR GIPS VERIFICATION
    • THOMPSON REUTERS: FOR INFORMATION SYS.
    • KAYE SCHOLER/SEWARD & KISSEL: LEGAL SVC.
    • BDO SEIDMAN: AUDITING
    • CITIBANK: ACCOUNTT ADMINISTRATIVE
  4. RESULTS/RETURNS: SEE PGS. 2 & 7

    The investment process that Dave Rosen described has produced excellent results on a CONSISTENT BASIS: see pg. 2
    Since inception our average annualized gross rate of return on our U.S. large cap value equity portfolio composite has been 10.32% Vs. 4.99% for the Russell 1000 Benchmark Index and 2.67% for the S&P 500.
  5. Both our People and our Process lead us to healthy returns not only OUTRIGHT but on a RISK ADJUSTED BASIS as well:
    Lets take a look at some of those measurements of risks: see pg. 5
    HIGH ALPHA & HIGH INFORMAITON RATIO INDICATES CONSISTENTLY HIGH RISK ADJUSTED RETURNS FOR EVERY UNIT OF RISK TAKEN.

    * A) ALPHA = 4.87% since inception & 5.49% over the last 5yrs.

    * B) INFORMATION RATIO = .58 OVER THE LAST 5YRS.

    *Higher IR shows that the manager is consistently outperforming the benchmark. It also means a manager can achieve higher returns more efficiently than one with a low ratio by taking on additional units of risk.

    • *C) UP-SIDE CAPTURE = 116%
    • DOWN-SIDE CAPTURE = 95%

    ***ESSENTIALLY WE PARTICIPATE MORE ON THE UPSIDE THEN WE DO ON THE DOWNSIDE. SO EITHER WAY WE'RE ALWAYS OUTPERFORMING THE MARKET.

    IR =ER/STANDARD DEVIATION
  6. OUR PERFORMANCE IS EVIDENCED BY A NUMBER OF PERFORMANCE TRACKING FIRMS: SEE PG. 6
    • 1) We are ranked #1 by Pensions & Investments
    • Magazine for 2010 for all Large Cap Value Separate Account managers. They also ranked us #1 for the rolling 2005 to 2010 time period.

    2) We were rated "TOP GUN" LCV manager in 2008,2009 & 2010 by PSN/INFORMAIS

    3) eVestment Alliance ranked us in the top 1% for all LCV managers between 2004 through 2008 & we have consistently been in the top percentile brackets ever since.
  7. IN SUMMARY:
    I.GRAHAM & DODD IS STRUCTURED WITH A CLEAR DELINEATION OF DUTIES, STRONG OVERLAPPING SYSTEMS WITH HIGH LEVELS OF REDUNDANCIES THAT MAKE US OPERATIONALLY SOUND.

    II. WE HAVE A PROVEN, REPEATABLE PROCESS EVIDENCED BY OUR CONSISTENTLY HIGH, RISK ADJUSTED RETURNS SINCE INCEPTION.

    III. SO TO WRAP THIS UP:

    IT'S OUR VIEW THAT THESE TRAITS WILL PRODUCE THE BEST POSSIBLE OUTCOME FOR PLAN SPONORS.

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