Page 453 - FortWorthFY22AdoptedBudget

to this Investment Policy and Strategy will require re-certification by each
business organization.

E. The City’s Investment Committee will perform a strategy and
performance review at least semi-annually. The Committee will review and
act on any potential need for refinement or revision of the OPEB Trust’s
policies or strategies.

2. STANDARDS OF CARE
The standard of care to be used shall be the “prudent person” standard as
established by the Act and shall be applied in the context of managing the overall
OPEB Trust Fund. The "prudent person" standard states that,

“Investments shall be made with judgment and care, under prevailing
circumstances, that a person of prudence, discretion and intelligence would
exercise in the management of the person’s own affairs, not for speculation,
but for investment, considering the probable safety of capital and the
probable income to be derived.”

In determining whether a Trustee has exercised prudence with respect to an
investment decision, the determination shall be made taking into consideration:
(1) the investment of all funds, or funds under the Trustee’s control, over which
the Trustee had responsibility rather than a consideration as to the prudence of a
single investment; and (2) whether the investment decision was consistent with
this written investment Policy.

3. ETHICS AND CONFLICTS OF INTEREST
Employees of the City of Fort Worth, the Trustee or its Sub Advisors involved in
the investment process shall refrain from personal business activity that could
conflict with proper execution of the investment program, or which could impair
their ability to make impartial investment decisions. Also, employees of the City
of Forth Worth involved in the investment process shall disclose any material
financial interests in financial institutions that conduct business with the City, and
they shall further disclose any material personal financial/investment positions
that could be related to the performance of the City’s investment program.

III. INVESTMENT GUIDELINES

1. EXISTING INVESTMENTS

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