About this opportunity
AI summaryThe City of Newton Purchasing Department requests sealed proposals from qualified firms to provide multi-fund investment management services across an eight-account portfolio. The selected manager will execute trades, establish pre- and post-trade controls, monitor compliance, rebalance accounts, coordinate with an approved qualified custodian, provide detailed reporting and client reviews, and manage account transitions and cybersecurity controls. Only onshore US organizations are eligible to bid. Firms must deliver one original and one digital copy of the technical proposal, plus one original price proposal in a separate sealed envelope, to Newton City Hall by 10:00 a.m. Eastern Time on December 3, 2026. The City will not accept email or fax submissions, and written questions must be submitted to [email protected] by 12:00 p.m. noon on November 20, 2026. The City will evaluate proposals to identify the most advantageous offer for a contract term extending from execution through June 30, 2031, with two optional two-year extensions.
Buyer and opportunity details
- Client
- City of Newton Purchasing Department
- Solicitation No.
- 27-31
Scope of work
- Manage authorized investments, execute trades, and monitor risk and policy compliance across eight multi-fund accounts
- Implement balanced Exchange-Traded Fund (ETF) strategies and maintain direct U.S. Treasury ladders
- Establish pre-trade and post-trade controls by account and provide delivery-versus-payment settlement coordination
- Coordinate custody with an approved qualified custodian ensuring separate identification of fund assets
- Submit electronic monthly, quarterly, and fiscal-year investment reports and reconciliation dashboards
- Conduct quarterly reviews with Treasury and annual presentations for fund governing bodies
- Deliver transition, onboarding, implementation schedules, and termination support
- Maintain cybersecurity controls, encryption, multifactor authentication, tested backups, and business continuity plans
How proposals are evaluated
| Criterion | Weight / scoring |
|---|---|
| Relevant experience and team | Not specified |
| Balanced ETF approach and risk control | Not specified |
| Treasury management and liquidity | Not specified |
| Multi-fund governance, custody and controls | Not specified |
| Reporting, service and transition | Not specified |
| Performance evidence and references | Not specified |
| Conflicts, cybersecurity and continuity | Not specified |
Minimum qualifications
- At least ten years of firm investment management experience
- At least $1 billion in assets under management as of the latest completed calendar quarter
- SEC registered investment adviser or documented bank regulatory exemption
- All required Massachusetts registrations or notice filings
- Current Form ADV Parts 1 and 2
- No debarment or regulatory restriction preventing performance
- Three relevant references excluding City of Newton personnel
Documents to include with your response
- Attachment A — Proposer questionnaire responses
- Attachment B — Technical proposal cover sheet
- Attachment C-1, C-2, and C-3 — Separate price proposal worksheets
- Attachment H — References and certifications form
- Attachment I — Certificate of Non-Collusion
- Attachment J — Certification of Tax Compliance
- Attachment K — Certificate of Foreign Corporation
- Attachment L — Debarment Letter
- Attachment M — IRS Form W-9
- Attachment O — Vendor Payment Security Questionnaire
Key dates
- Contract Documents available online
- after 10:00 a.m., November 5, 2026
- Written questions due
- 12:00 p.m. noon, November 20, 2026
- Proposals due
- 10:00 a.m., Thursday, December 3, 2026, EASTERN TIME
How to submit
- Method
- Sealed hard copy and digital copy delivery
- Instructions
- Deliver to Purchasing Department, Room 108, Newton City Hall, 1000 Commonwealth Avenue, Newton, MA 02459. Submit one (1) original and one (1) digital copy of the Technical Proposal, and one (1) original Price Proposal in a separate sealed envelope. Email and fax submissions are not accepted.
Contract details
- Term
- From day of contract execution through June 30, 2031, with the option for two (2) additional two (2) year terms.
- Place of performance
- Newton, MA
- Insurance and bonding
- Supply coverage evidence and exclusions; City additional-insured status is required only on policies for which it is customary and available.