FUND NEWS May 24, 2005

Board selects Callan as consultant

MAY 24 – The APFC Board has selected investment consulting firm Callan Associates of San Francisco for a three-year contract. Callan also holds the current consulting contract, which is set to expire on June 30.

“The Trustees have had a successful relationship with Callan and we are satisfied with the services they provide,” said Board Chair Carl Brady. “They were up against some excellent competition, but in the end they proved that they are still the best firm to fulfill the Board’s requirements.”

The decision came at the conclusion of a formal procurement process in which four firms made proposals to the Board. The other firms considered were Ennis Knupp & Associates of Chicago, IL, Wilshire Associates, Inc. of Santa Monica, CA, and RV Kuhns & Associates, Inc. of Portland, OR.