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The Marion County Hospital District is soliciting proposals to secure a contract for Investment Management Services. The District seeks an experienced firm to provide advisory council and investment management services for a portfolio currently valued at approximately $295 million which is divided between three managers. The investment manager will only be responsible for approximately $100 Million. During the solicitation process for this RFP, all official communication between the District and offering firms will be via postings on the Marion County Hospital District website. The following documents are the RFP Solicitation and Investment Policy Statement Attachment. The RFP Solicitation outlines due dates for inquires and final submission date of August 6, 2021.

RFP Solicitation for Investment Management

Attachment: Investment Policy Statement 7th Amendment

RFP Questions

First Question from: 

Merrill Lynch, Pierce, Fenner & Smith, Inc. 

Hart, Greiner & Associates 

301 SE 17th Street, Ocala, FL 34471-4434 

Q: As far as I can tell, the MCHD is still 100% a public fund according to the following language:  

From the RFP: 

The Marion County Hospital District is governed by a Board of Directors comprised of community leaders who volunteer their time and talents to help ensure the District achieves its mission. The District is active in the community by providing healthy programs for the citizens of Marion County and assets for capital expansion of Health Care related facilities. The organization’s leadership works closely with the Community to help address the District’s health care priorities. The District is a Dependent Special District of the State of Florida and retains fiduciary responsibility for the investment of the funds entrusted to it. More information about the District can be found at The District is a governmental entity of the state of Florida and is subject to Florida’s sunshine law. All material submitted and all communications between proposing firms in the district are subject to public disclosure. 

ANSWER: Yes the Marion County Hospital District is a 100% Public Fund which is governed by the Investment Policy.  

Second Question from

Mary D. Mullins, CRSP, AIF® 

Regions Bank

Vice President & Relationship Consultant 

111 N. Orange Ave, Suite 1585 l Orlando, FL  32801 

Q: The RFP indicates that “Investment Managers are requested to base their proposals on providing long term investment returns in excess of the spending rate and in accordance with the investment policy.” Can you please provide a copy of the current spending rate policy and the actual spending rate for 2020? 

ANSWER, Please Find Attached 2020 Audit. 

Purvis Gray Audit 2020

 Q: Exhibit A of the IPS – Strategic Asset Allocation reflects a range of 2 – 10% of assets are to be invested in Illiquid Alternatives. Is it a requirement to utilize illiquid alternatives in the asset allocation? If not, is the investment manager free to reallocated that percentage of the allocation to any other asset class? 

ANSWER: As set out in the IP, 5% minimum for alternatives and 2% minimum for illiquid alternatives. 

Q: Can you please provide a copy of the current asset statement? 

ANSWER: Find Attached most current quarterly investment reports

Truist Q2 Financial Reports

Berman Capital Q2 Financial Reports

Simon Quick Q2 Financial Reports

Third Question from:

Mary D. Mullins, CRSP, AIF® 

Regions Bank

Vice President & Relationship Consultant 

111 N. Orange Ave, Suite 1585 l Orlando, FL  32801 

Does the board have a bias against utilization of proprietary investment products?

ANSWER: Proprietary investment products would require prior approval.

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