Addendum Number 2

ADDENDUM NUMBER 2

DATED

March 19, 2018

TO

SPECIFICATIONS

FOR

REQUEST FOR PROPOSAL #: 18-9015-DH-U

MARCH 2, 2018

THE SPECIFICATIONS NOTED BELOW ARE MODIFIED AS FOLLOW AND EXCEPT AS SET FORTH HEREIN OTHERWISE REMAIN UNCHANGED AND IN FULL FORCE AND EFFECT:

THE SPECIFICATIONS NOTED BELOW ARE MODIFIED AS FOLLOW AND EXCEPT AS SET FORTH HEREIN OTHERWISE REMAIN UNCHANGED AND IN FULL FORCE AND EFFECT:

Modification: The University of Missouri hereby extends the “opening Date” to March 26th, 2018 at, 12:00 p.m. C.T.

Clarification: The University of Missouri received the following questions regarding RFP #18-9015-DH-U General Investment Consulting Services. University of Missouri responses to each question are listed herein;

Q 1. Are you looking for a single provider for all the pools or are you open to multiple providers?

A1.We are looking for one provider who can service all three investment pools. Retirement, Endowment and General Pool.

NOTE: The University has a contract with Courtland Partners to advise our real estate portfolio. That contact will remain in place and Courtland will continue to work the General Consultant.

Q2. Were any firms specifically invoiced or notified of the RFP outside of the open posting?

A2.Yes,

Q3.In section 9 of the Limiting Criteria, is absolute compliance required of all questions?

A3.Yes,

Q4.Are there any other reasons other than the expiring incumbent contract that you issued an RFP?

A4.While we are satisfied with the work of the incumbent, it has been 7 years since our last RFP. We think it’s simply a good business practice to take another look at the market.

Q5.Are you looking for something else that you are not currently being offered?

A5.No

Q6.Review of major changes in asset allocation in 2017?

A6.The most significant change was the expansion of the portable alpha program from 7% ported over equities to 20% ported over equities, treasuries, TIPS and commodities. The transition to the new allocation should be completed by June 2018.

Q7.Is the operating pool managed internally? If so, how much? Including the General Pool?

A7.The operating pool is approximately $2.3 billion overall. Approximately 15% is internally managed within our Cash & Cash Equivalents sector. The remainder is allocated to US Government Securities, Fixed Income, and Risk Balanced strategies utilizing 7 different investment managers.

Q8.What is the allocation to risk parity?

A8.10%

Q9.How will staff work with consultants outside of what is listed in the RFP?

A9.The consultant and staff will work together on manager hires, research and projects as they arise.

Q10.Will the university conduct manager searches in looking for ideas?

A10. Yes, when searches are possible. In some cases, there is not a big enough pool to do a search and staff may recommend a manager for the consultant to diligence.

Q11. Does the university find the two-meeting per-year is acceptable?

A11. The two meetings a year are for the investment advisory committee. This structure works well for our alumni involved. The Board of Curators meets 6 times a year. Most likely, the consultant will be asked to attend one meeting in the fall.

Q12.Will the university provide the specific dates for the BOC and Committee meetings?

A12. The dates are published in advance on the University’s website.

Q13. Has the university completed, or will they complete an endowment spending study?

A13.Yes, the University just completed an endowment spending study.

Q14.Does the current provider sub-contract to a diverse supplier?

A.14n/a

Q15. What input from the consultant is expected regarding, “performance measures”?

A15.The University uses Northern Trust for its performance measurement. The Consultant will have access to this information and will be expected to monitor performance as part of ongoing due diligence.

Q16.Private Market Reporting?

A16. The University uses Private i in conjunction with Northern Trust.

Q17. What is the timeline/start date for the new agreement?

A17.Proposals are due back on Monday, March 26th at noon CT. All proposals will be reviewed over the next couple of weeks. If the University decides to move forward, it will interview candidates sometime during the third week of April. A final decision will take place at the June Board meeting.

Q18.Are you releasing the current incumbent vendor?

A.18 No

Q19.Where can I find a copy of the ITSRQ mentioned in the RFP?

A19.The ITSRQ will be provided to the awarded firm.

THE CURATORS OF THE UNIVERSITY OF MISSOURI

Prepared By:

Darla Higgins

Strategic Sourcing Specialist

University of Missouri System Supply Chain

2910 Lemone Industrial Blvd

Columbia, MO 65201