Transcript

AGENDA

MEETING OF THE

STATE BOARD OF ADMINISTRATION

(Contact Person: Dorothy Westwood - 488-4406)

THE CAPITOL

June 12, 2001

1. Approval of minutes of meeting held May 30, 2001. (Att. #1)

2. THE STATE BOARD OF ADMINISTRATION REQUESTS THE FOLLOWING:

Recommend the dissolution of any non-statutory based restrictions on the investment authority of the State Board of Administration. Furthermore, staff would be authorized to make the appropriate corresponding changes to the Total Fund Investment Plan (TFIP) to reflect the elimination of these restrictions. (Additional backup to be provided upon completion of cost analysis.)

This item was deferred at the May 30, 2001 Cabinet meeting.

3. PRELIMINARY APPROVAL OF THE NEXT SEVEN UNBUNDLED INVESTMENT PRODUCT PROVIDERS:

U.S. Small Stock Active Fund – Small Cap Broad Product – Batterymarch Financial Management, Inc.

U.S. Small Stock Active Fund - Small Cap Growth Product – Columbia Management Company

U.S. Small Stock Active Fund – Small Cap Value Product – Ark Asset Management

U.S. Large Value Stock Active Fund – Large Value Broad Core Product – Wellington

Management Company and Institutional Capital Corporation

U.S. Large Growth Stock Active Fund – Large Growth Broad Core Product –

Dresdner RCM and State Street Research & Management

U.S. Large Value Stock Active Fund – Enhanced Index Product – Barclays Global

Investors

U.S. Large Growth Stock Active Fund – Enhanced Index Product – Jacobs Levy

Equity Management

SBA AGENDA

June 12, 2001

Page two

These recommendations are being presented to the Investment Advisory Council/Public Employees Optional Retirement Program Advisory Committee (IAC/PEORPAC) meeting on June 1, 2001. A supplemental report on the action taken at the IAC/PEORPAC joint meeting will be forwarded following that meeting.

Preliminary approval of these Unbundled Provider Investment Products signifies the completion of this phase of the investment selection process for products 4-10. All unbundled investment product providers recommended for preliminary approval, as well as recommended bundled providers, will be evaluated together and presented to the Trustees for final product approval for the overall PEORP later in the fall.

4. STATE BOARD OF ADMINISTRATION BUDGET FOR FISCAL YEAR 2001-2002:

The Executive Director recommends approval of a proposed Operating Budget for fiscal year 2001-2002 for the State Board of Administration, and other trust fund management activities including the Public Employee Optional Retirement Program, the Division of Bond Finance, the Florida Hurricane Catastrophe Fund, and the Florida Prepaid College Board. (Backup will be provided after the June 1, 2001 IAC/PEORPAC meeting.)