Investment Policy Statement

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INVESTMENT POLICY STATEMENT For Investment Funds of All Saints’ Episcopal Church, Carmel CA

I.

PURPOSE OF THE INVESTMENT POLICY STATEMENT This Investment Policy Statement is designed to: A. Establish investment objectives and overall standards for the management of the assets held in the Parish Investment Fund (Vestry Fund) of the All Saints’ Episcopal Church, Carmel CA (Parish). B. Provide an environment that favors a stable and prudent investment strategy consistent with the goal of the Parish to have a reliable source of investment income. C. Define overall risk and return objectives of the portfolio. D. Establish a philosophy, policies and procedures, and identify and maintain any existing restrictions that will guide the Investment Committee of the Parish in decisions regarding the management of portfolio assets. E. Establish a methodology for monitoring and evaluating performance of the portfolio.

II.

BACKGROUND INFORMATION A. The Parish Investment Fund of the All Saints’ Episcopal Church, Carmel CA, (referred to herein as “the Vestry Fund”), authorized by and reporting to the Vestry of the Parish, is operated under the Investment Fund Plan of All Saints’ Episcopal Church, a 501c(3) non-profit public benefit organization, with accumulated investment assets from earnings, donations and/or bequests. The Vestry Fund investment portfolio is administered by the Investment Committee at the direction of the Vestry of All Saints’ Episcopal Church, Carmel CA (Vestry). B. The investment portfolio covered by this Investment Policy Statement currently consists of real estate, art, stocks, bonds, mutual funds, exchange traded funds and money market funds. C. In addition to the funds addressed in II-B, and outside of the publicly traded securities in the managed portfolio, the Vestry Fund may also hold an equity ownership investment in the Rector’s residence and other such resources deemed consistent with the philosophy and policies of the Vestry Fund and the needs of the Parish. D. All Saints’ Episcopal Church (Parish) also benefits from the endowed proceeds of a fund known as the Foundation Trust Fund of All Saints’ Episcopal Church (a 509a3 entity, “Trust Fund”). Although its purpose is solely to benefit the Parish according to its policies and bylaws, the Trust Fund is separately governed and managed by a 1|Page

1/15/2012


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Investment Policy Statement by Greg Troxell - Issuu