The Investment Policy Statement

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Appendix Sample Investment Policy Statement Templates This section contains two templates for the Board of Trustees or Investment Committee of an endowed nonprofit organization to use in crafting an investment policy statement. The Risk-based Investment Policy Statement is designed for organizations with access to financial simulation and modeling tools (sometimes called Monte Carlo models) that can be used to estimate ranges of future returns for given portfolio choices and create “stress-testing” scenarios to examine the performance of portfolios in illiquid or non-normal market environments. This approach requires more intensive quantitative work on the part of the Board or Committee, usually in partnership with the organization’s investment advisor; the result is a more dynamic investment policy process that places risk and liquidity considerations on an equal footing with portfolio returns in making asset allocation and spending decisions. The Traditional Investment Policy Statement is designed for organizations that do not have access to, or choose not to use, the financial simulation and modeling tools employed in the Risk-based Investment Policy Statement. It places asset allocation at the center of the investment policy, does not focus on multiple levels or types of risk parameters to the same degree as the Risk-based Statement, and does not require the same degree of dynamic involvement by the Board or Committee in the investment process. Both templates comprise a main body, which forms the permanent text of the Statement; this is followed by an appendix containing the Operating Guidelines that set forth the working parameters to be used by the Board or Committee in managing the portfolio. This structure is intended to facilitate the Committee’s annual review of the Statement, and to make the process of revision relatively simple and clear. Both statements also incorporate references to the investment, fiduciary and spending standards of the Uniform Prudent Management of Institutional Funds Act (UPMIFA), which is the law in virtually all states of the United States. It is recommended that an institution consult its counsel to confirm that the Investment Policy Statement conforms to the version of UPMIFA adopted in its state.
Template I: Risk-based Investment Policy Statement [NAME OF INSTITUTION] Csoonline Investments Fund Fund on on Confidential Confidential Credit Statement Credit of Investment Policy Csoonline Investments Fund on Confidential Credit Statement of of Investment Investment Policy Policy General: The contractor shall submit claims for reimbursement in the manner and format described herein and as illustrated in the sample General: invoice/financing The contractor request. shall submit claims for reimbursement in the manner and Format: herein format Standard described as Form illustrated 1034, herein "Public the Voucher and sample as for illustrated Purchases invoice/financing and Services the sample Other request. Than invoice/financing Personal," and Standard request. Form 1035, "Public Voucher for Purchases and Services Other Than Personal-- Continuation Sheet," or reproduced copies of such forms marked ORIGINAL should be used to submit claims for reimbursement. In lieu of SF-1034 and SF-1035, claims may be submitted on the payee's letter-head or self-designed form provided that it contains the information shown on the sample invoice/financing request. General: The contractor shall submit claims for reimbursement in the manner and format described Format: Standard Form 1034, "Public Voucher for Purchases and Services Other Than Personal," and Standard Form 1035, "Public Voucher for Purchases and Services Other Than Personal-- Continuation Sheet," or reproduced copies of such forms marked ORIGINAL should be used to submit claims for reimbursement. Format: Standard In lieu Form of SF-1034 1034, "Public and SF-1035, Voucher claims for Purchases may be submitted and Services on the payee's Other Than letter-head or self-designed Personal," and form Standard provided that Form it contains 1035, the "Public information Voucher shown for on Purchases the sample and invoice/financing Services request. Other Than Personal-- Continuation Sheet," or reproduced copies of such forms marked ORIGINAL should be used to submit claims for reimbursement. In lieu of SF-1034 and SF-1035, claims may be submitted on the payee's letter-head or selfdesigned Legal Fees. Should form provided a dispute between that it the contains named Parties the information arise lead to shown legal action, on the the prevailing sample Party shall be entitled to any reasonable legal fees, including, but not limited to attorneys’ fees. invoice/financing request. Legal Fees. Should a dispute between the named Parties arise lead to legal action, the prevailing Party shall be entitled to any reasonable legal fees, including, but not limited to attorneys’ fees. Legal Fees. Should a dispute between the named Parties arise lead to legal action, the prevailing Party shall be entitled to any reasonable legal fees, including, but not limited to attorneys’ fees. Adopted: [Date] Aug. 30th, 2023 The Financial Advisor shall perform the services in compliance with the terms and conditions of the Agreement.
Page 2 and 3: Roots of Progress TRIO® CSO Online
Page 4 and 5: Four Primary Areas of Quantitative
Page 6 and 7: Sampling Methods Probability sampli
Page 8 and 9: Components of the investment policy
Page 10 and 11: For example, a series of funds to e
Page 12 and 13: What about outside investment manag
Page 14 and 15: Investment strategy of the fund, as
Page 16 and 17: The question of permitted and prohi
Page 18 and 19: Role of the fund in supporting the
Page 22 and 23: Table of Contents Statement of Purp
Page 24 and 25: The Investment Committee shall, as
Page 26 and 27: Risk and Liquidity Definition of Ri
Page 28 and 29: - Standard of conduct. In managing
Page 30 and 31: Spending 11 - Policy spending rate.
Page 32 and 33: Hypothetical Target Asset Allocatio
Page 34 and 35: The fixed income asset class includ
Page 36: Each manager using derivatives shal
Page 39 and 40: Table of Contents Page Statement of
Page 41 and 42: In fulfilling its responsibilities
Page 43 and 44: - Standard of conduct. In managing
Page 45 and 46: The Operating Guidelines, a templat
Page 47 and 48: Investment Strategies, Guidelines a
Page 49 and 50: -Alternatives. The following altern

The Investment Policy Statement

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