CITY OF KNOXVILLE PENSION BOARD

MINUTES

APRIL 13, 2005

2:00 P.M.

917B E. 5^TH AVENUE

 

 

 

A special meeting of the City of Knoxville Pension Board was held in the Pension Board Conference Room at 917 E. 5^th Avenue at 2:00 p.m. on April 13, 2005.

 

Present were: Mr. Christopher Kenny, Mr. Buddy Harrell, Mr. Scott Calloway, Mr. Stephen King, Mr. Mike Cherry, and Mr. Daniel Holmes of Summit Strategies

 

Also present: Walter Lindsey & Mike Strong from Fidelity Management Trust Company; Robin Armour & Alex Becks from Gryphon International Investment Corporation; Mark Beale of New Star Institutional Managers; Casey Magner of Frontier Partners Inc.; and William Pierce and Dave Merjan (via phone) of William Blair & Company.

 

 

 

CALL TO ORDER:

Mr. Michael Cherry presided and called the meeting to order at 2:20 p.m.

 

INVESTMENT MATTERS:

 

          

Mr. Calloway arrive at 2:35 PM. Mr. Kinney arrived at 2:45 PM.

 

           Walter Lindsey and Mike Strong from Fidelity Management Trust Company made a presentation to the Pension Board regarding their firm’s international growth investment capability and performance. A copy of their presentation material is on file at the pension office.

 

           Robin Armour and Alex Becks from Gryphon International Investment Corporation made a presentation to the Pension Board regarding their firm’s international growth investment capability and performance. A copy of their presentation material is on file at the pension office.

 

           Mark Beale of New Star Institutional Managers and Casey Magner of Frontier Partners Inc. made a presentation to the Pension Board regarding New Star’s international growth investment capability and performance. A copy of their presentation material is on file at the pension office.

 

           William Pierce and Dave Merjan (via phone) of William Blair & Company made a presentation to the Pension Board regarding their firm’s international growth investment capability and performance. A copy of their presentation material is on file at the pension office.

 

The pension board in consultation with Dan Holmes of Summit Strategies discussed the various firms’ presentations and capabilities.

 

Motion:  Mr. Calloway made a motion to engage, upon the recommendation of Summitt Strategies, Gryphon International Investment Corporation as a new money manager to replace Oechsle International Advisors.  The engagement is subject to an investment management contract being reviewed and recommended by the Board’s attorney, Mr. Bud Gilbert.  The Executive Director, with the assistance of Mr. Holmes and Mr. Gilbert, is also authorized and directed to sign the contract on behalf of the Pension Board and complete the administrative tasks to establish the engagement and transfer the funds from Oechsle’s custodian to State Street Bank & Trust and then to Gryphon’ custodian.  Mr. Kinney seconded the motion.  The motion passed unanimously.

 

PUBLIC COMMENTS:

 

ADJOURNMENT:

 

There being no further business, the following motion was made:

 

           Motion:  Mr. Calloway made a motion to adjourn, seconded by Buddy Harrell.

          The motion passed unanimously and the meeting adjourned at 6:02 P.M.

 

 

 

                                                                                _____________________________

                                                                                Chair

 

 

 

                                                                                _______________________________

                                                                                Date