HomeMy WebLinkAboutHandouts_Pension Joint_Commission Recapture_06/15/2010 THE
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June 2010
Rockwood Capital Advisors, LLC.
Attn: Andy Holtgrieve
721 Emerson Road • Suite 565
St. Louis, MO 63141
holtgrievea@rockwoodcapital. com
(888) 962-8336
Re: Domestic Equity Trading Direction Letter
Dear Mr. Holtgrieve,
This letter will confirm our arrangement concerning brokerage commissions for the Village of
Tequesta Public Safety Officers' Pension Plan. (herein referred to as "the Fund"). The Board of
Trustees primary concern and focus is to receive best execution for trades done on behalf of the
Fund. Accordingly, you are directed to seek best execution through your established brokerage
trading houses, electronic trading platforms and recapture brokers. If the Fund has contracted
with vendor(s) to provide recapture services for the Fund, we will attach a schedule of these
providers for your information and potential use. Best execution, which is defined solely by the
investment manager, includes but is not limited to, the net effect of commissions paid, market
impact, timeliness of transaction and opportunity cost.
To ensure all your security transactions have been executed consistent with your obligation to
seek best execution in each trade, we require a quarterly accounting of all trading activity done
on behalf of the Fund. Please send this trading report to researchCa�bogdahnqroup.com within
15 days after the end of each calendar quarter.
Any other questions regarding this relationship should be directed to my attention.
Sincerely,
Authorized Signer
Village of Tequesta Public Safety Officers' Pension Plan
Cc: Daniel Johnson, Investment Consultant, The Bogdahn Group
Bonni Jensen, Board Counsel
4901 Vineland Road �",,' Suite 600 ��:. Orlando, Florida 32811
Telephone (866) 240-7932 !�A Facsimile (863) 292-8717
www.bogdahngroup.com
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Recapture Provider Contact Information:
Convergex (Formerly Lynch, Jones and Ryan)
Contact: Christian Kraus
Phone: (212) 497-1547
Email: CKraus@bnyconvergex.com
1633 Broadway, 48th FI
New York, New York 10019
4901 Vineland Road'E,:`r Suite 600 �� �- Orlando, Florida 32811
Telephone (866) 240-7932 �� : Facsimile (863) 292-8717
www. bogda hngroup.com