Step 3:

        Management of the “managers”

-   Monitor and coordinate investment manager(s)

-   Performance measurement

-   MPT statistical and/or attribution analysis (optional)

-   Scorecard evaluation

-   Investment program review

                    Value-added services (available)

-   Securities Custody

-   Trusteeship

-   LOC and/or other credit facilities

-   Accounting and reporting

-   Peer group analysis

-   Analytic support (liquidity management, cash flow testing, sensitivity testing, etc.)

-   Other