County treasurer seeks asset-management help; two firms present proposals

Nye County Treasurer Raelynn Powers told the Board of Commissioners on April 2 that the county maintains an investment portfolio in excess of $140 million but lacks an in-house investment team. She said only two Nevada counties lack dedicated investment-management support and that her office has solicited information from outside managers.

Buckhead Capital Management (Kathy Stratton, Matt Bowden) presented first, outlining a fiduciary approach and saying professional management could reduce unrealized accounting losses and generate additional annual income for the county. Using a comparison with another public client, Buckhead suggested the county's current approach had experienced substantially larger unrealized losses in recent cycles and said a professionally managed portfolio could have materially reduced those losses while producing higher recurring yield. Stratton emphasized fiduciary obligations and transparent, fee-based pricing, noting some broker fees are embedded in securities purchases and less visible.

METER Public Funds (Benjamin Sehy) followed, highlighting the firm's government experience, Nevada client list and a team-based approach to managing operating and capital funds. METER described potential policy adjustments to allow a broader set of allowable instruments under Nevada law if the county engages an advisor and noted ongoing state changes that can enable expanded portfolio diversification.

Commissioners thanked the presenters and directed staff to arrange one-on-one follow-up meetings with the firms to examine proposals in more detail before making any formal procurement decision. The treasurer said both firms provided backup materials that would be reviewed in closed or staff sessions as appropriate.

What happens next: Commissioners expect to meet individually with firms before considering formal procurement options or changes to investment policy.