投资政策

总统内阁于2016年9月27日通过

十大彩票平台 is required by the Board of Regents 政策 7.5.建立;建立 an investment policy that advocates sound and prudent judgment in the management of investment assets consistent with the fiduciary responsibility of the College.

定义

• • 投资经理
    An external institutional custodian for investment assets belonging to East Georgia 州立大学. This individual manages the entire fund for the University System and meets with the Board of Regents at least once annually.
  • 捐赠基金
    Gifts of cash and securities to 十大彩票平台, made in the past, and currently invested for the perpetual benefit of those identified in the donor’s bequest. These assets are separate and distinct from similar gifts held by the EGSC基金会.
  • 现金
    现金 in 十大彩票平台’s possession that will not be expended immediately, and that have the potential to produce short-term investment income.
  • UMIFA
    Uniform Management of Institutional Funds Act (1972)
  • The Historic Dollar Value (HDV) as defined by UMIFA
    “The value of contributions made to an endowment fund, without increases or decreases from investment results, inflation, or other factors.”
  • UPMIFA
    Uniform Prudent Management of Institutional Funds Act (2006) – eliminates the concept of HDV and provides a prudence rule concerning the perpetual nature of endowments 以及它们所代表的未来购买力.
  • 语料库
    The original historic dollar value of an endowment funds plus the realized gains/losses.

政策

• • 投资委员会
    投资 committee exists to review investment activity and earnings. 投资 委员会由以下人员组成:
    • 总统
    • 商务事务副总裁
    • 负责机构发展的副总裁

投资 committee meets no less than annually to review investment performance, review earnings allocation recommendation for the next academic year, set the level of spending for the endowment, ensure that earnings, gains/losses and/or distributions are booked in a timely manner, determine the best investment options for the College, and recommend any necessary changes to this 投资政策.

十大彩票平台 has elected to participate in the Pooled Investment Funds Program using SunTrust bank according to the 佐治亚大学系统 Business 程序手册第9节.2.2. The College participates in the 短期基金 for 现金和多元化基金的捐赠. 特点及投资目标 of the pooled fund that the College uses is detailed below.

短期基金

The Short Term investment fund provides a current return and stability of principal while affording a means of overnight liquidity for projected cash needs. 投资 maturities in this fund will range between daily and two (2) years.

• • • 投资目标
      • 原则保全.
      • Providing a competitive return on the short term funds of the USG participants, while 提供定期的现金需求.
      • Overall characteristic of the portfolio shall be of U.S. 财政和机构质量， and holdings shall be well diversified as to issuer and maturity.
      • Liquidity needs generally will be met through maturities, portfolio structure, and 利息收入.
    • 一般投资指引
      • Investments shall be in conformity with Regents policy and applicable federal and 国家法律.
      • 投资 manager is authorized to make investment changes as deemed necessary and in accordance with the objectives and guidelines set forth by the Board of Regents 酌情编写业务程序手册.
      • 投资 manager will meet as necessary, but at least once a year, with the BOR to review investment strategies and investment objectives.
      • 投资 manager shall prepare investment performance results on a quarterly 基础. Results will be compared against the Money Net All Taxable 指数 and the Georgia 资金(LGIP池).

多样化的基金

The 多样化的基金 is designed to gain further diversification and increase exposure to assets that have lower correlation to equity and bond markets by utilizing alternative 资产类别. In addition, this fund is constructed to build an optimal portfolio 回报增加，风险降低.

• • • 投资目标
      • The overall character of the portfolio should be one of above-average quality, possessing, 最多为中等程度的投资风险.
      • 投资 objective shall be to seek a reasonable and meaningful total rate of 以资本增值为重点的回报.
      • For comparative purposes, the stock portion of the portfolio will be reviewed over a full market cycle relative to the results achieved by the Standard & 可怜的500 指数.
      • The bond portion of the portfolio will be measured against the Lehman Aggregate 指数.
    • 一般投资指引
      • 投资 manager will give frequent and active attention to the fund to develop 实施战略.
      • 投资 manager is authorized to make investment changes as deemed necessary and in accordance with the objectives and guidelines set forth by the Board of Regents 酌情编写业务程序手册.
      • 投资 manager will meet as necessary, but at least once a year, with the BOR to review investment strategies and investment objectives.

支出计划

The 短期基金 used for cash requires no minimum investment, and funds can be 根据需要投资或撤回. 对于捐赠基金，捐赠人没有 provided specific instructions, investment return of the College’s endowment funds 是基于总回报的概念吗. 学院捐赠基金的年度支出 funds are based on a spending policy which limits spending to 4% to 10% of the endowments principal’s market value as of the previous fiscal year end. 在盈利的情况下 do not meet expectations, distributions will be suspended when the balance falls below 110% of the historic dollar value or 80% of the previous fiscal year end balance, 哪个最伟大.