HOLLIDAYSBURG — The company that manages Blair County’s invested pension funds is recommending the county transition to use what’s referred to as its OCIO or Outsourced Chief Investment Officer services.

The option, recommended by Marquettes Associates, would allow the investment advisory firm to act more quickly on the county’s behalf and to assume more responsibilities when doing so.

“It’s really like outsourcing your investment goals,” Marquette investment advisor Brad Hampton said Wednesday to the Blair County Retirement Board made up of commissioners Dave Kessling, Amy Webster and Laura Burke, as well as Controller A.C. Stickel and treasurer James Carothers. “(Some of) your responsibilities would get passed to our side of the table … But the one aspect you don’t lose is that you have oversight over Marquette.”

As of March 31, Marquette is managing about $41.2 million in pension fund investments on behalf of Blair County. That’s about $4.5 million more than the fund had a year ago.

And while the value of the county’s pension investments are subject to the ups and downs of the stock market, the latest reports show the invested funds have generated $29 million since December 2014, when Marquette began advising the county’s retirement board.

Marquette investment adviser Patrick Wing, who has attended Blair County retirement board meetings for years, said Wednesday that 12 other Pennsylvania counties have transitioned to OCIO.

They, as well as other clients, Wing said, are seeing benefits that include growth and higher returns with less risk.

However, the transition would come with a higher cost in what the county pension fund pays to Marquette.

Marquette’s current fee for managing pension fund assets is 0.2% on the first $30 million and 0.1% thereafter. So based on $42 million in assets, the Blair County pension fund will pay about $72,000 to Marquette.

If the county transitioned to the OCIO services, Marquette’s fee increases to 0.25% on the first $30 million and 0.15% thereafter. So based on $42 million in assets, the county pension fund would owe Marquette approximately $93,000.

However, Wing said the transition to OCIO also creates the opportunity to leverage lower fund management fees and drive down the associated costs. Currently, the county pension fund pays about $48,000 in fees charged by four investment managers, Wing said, but with the discount available through OCIO, that amount is reduced to $38,000.

Stickel, who referenced the retirement board’s longterm relationship with the Marquette advisers and the board’s general acceptance of their recommendations, suggested that a contract be prepared for consideration at a future meeting.

“I think it’s a no-

brainer,” Stickel said.

Mirror Staff Writer Kay Stephens is at 814-946-7456.