The document summarizes FIU's Operating Funds Investment Program. It provides details on:
- The history of the program, which was implemented in 2006 with an investment consultant and policy approved by the Board of Trustees.
- Governance structures including the investment policy, audit reviews, oversight committee, consultant, and custodian.
- How funds are diversified across asset classes including working capital, fixed income, real assets, and equities.
- Performance details such as portfolio composition, benchmarks, returns, and contributions to the university's unrestricted net position.
Day 1 topic 5.2. designing a grant part twoIFAD_Grants
IFAD programme management department (PMD) presented tips on how to design an IFAD grant, focusing on the financial design-stage documents, the AWPB and the Procurement Plan
Takeaways from B.28 & Looking Ahead in 2021AIDA_Americas
The document summarizes key outcomes and discussions from the 28th Board Meeting of the Green Climate Fund (B.28) and looks ahead to priorities and policies under consideration in 2021. At B.28, the Board approved $1.2 billion in funding for 15 projects focused on mitigation and adaptation. However, several important policy decisions and reports were postponed. Since then, some policies have been adopted between meetings, concerning some observers. In 2021, the Board will consider sectoral guidance, updated investment and accreditation frameworks, and policies on evaluation, safeguards, and private sector engagement. Beyond 2021, the GCF will undergo its second performance review and replenishment.
Overview of Decisions and Discussions at GCF B.29AIDA_Americas
Presentation of Liane Schalatek, Heinrich Böll Stiftung, at the session 2 of the GCF Watch international webinar series "Gender, indigenous peoples and REDD+ within the GCF".
Kransolutions is a team of technocrats with expertise in fields like mining, electrical, geology, and surveying who provide integrated solutions for the entire coal block development process. There were issues with the website that needed to be addressed, including restructuring content and navigation to improve the user experience. The target users are mainly male professionals in India aged 32-45 working in mining or students seeking study materials. Business requirements for the website include improving SEO, consistency in visual style and content, and restructuring contact and about us pages. A content analysis was done on keywords, trustworthiness, expertise and other factors.
Kerrie Campbell, an attorney specializing in consumer product safety and compliance, urges the CPSC to make transparency regarding civil penalty determinations a priority. She argues that transparency is essential for good regulatory governance as it fosters fairness, consistency, credibility and trust between the government and regulated entities. She asks the CPSC to commit to developing a framework for transparency around civil penalties through collaborative discussions with stakeholders to identify existing barriers and opportunities for improvement.
Almost all physicians use unsecure SMS for patient care, risking HIPAA violations and data breaches. Medsecure is an enterprise application built for secure texting among physicians and practitioners of Springfield Clinic. It allows doctors to communicate within a completely secure environment and easily collaborate with fellow doctors to discuss patients. The target users are male or female clinicians or physicians between 40-50 years old in Illinois with medium to high computer experience who want a texting solution that is secured, encrypted, fast, efficient and easy to use to enable communication, collaboration, whiteboard sharing, smart assistance and integration within a secured system.
Day 1 topic 5.2. designing a grant part twoIFAD_Grants
IFAD programme management department (PMD) presented tips on how to design an IFAD grant, focusing on the financial design-stage documents, the AWPB and the Procurement Plan
Takeaways from B.28 & Looking Ahead in 2021AIDA_Americas
The document summarizes key outcomes and discussions from the 28th Board Meeting of the Green Climate Fund (B.28) and looks ahead to priorities and policies under consideration in 2021. At B.28, the Board approved $1.2 billion in funding for 15 projects focused on mitigation and adaptation. However, several important policy decisions and reports were postponed. Since then, some policies have been adopted between meetings, concerning some observers. In 2021, the Board will consider sectoral guidance, updated investment and accreditation frameworks, and policies on evaluation, safeguards, and private sector engagement. Beyond 2021, the GCF will undergo its second performance review and replenishment.
Overview of Decisions and Discussions at GCF B.29AIDA_Americas
Presentation of Liane Schalatek, Heinrich Böll Stiftung, at the session 2 of the GCF Watch international webinar series "Gender, indigenous peoples and REDD+ within the GCF".
Kransolutions is a team of technocrats with expertise in fields like mining, electrical, geology, and surveying who provide integrated solutions for the entire coal block development process. There were issues with the website that needed to be addressed, including restructuring content and navigation to improve the user experience. The target users are mainly male professionals in India aged 32-45 working in mining or students seeking study materials. Business requirements for the website include improving SEO, consistency in visual style and content, and restructuring contact and about us pages. A content analysis was done on keywords, trustworthiness, expertise and other factors.
Kerrie Campbell, an attorney specializing in consumer product safety and compliance, urges the CPSC to make transparency regarding civil penalty determinations a priority. She argues that transparency is essential for good regulatory governance as it fosters fairness, consistency, credibility and trust between the government and regulated entities. She asks the CPSC to commit to developing a framework for transparency around civil penalties through collaborative discussions with stakeholders to identify existing barriers and opportunities for improvement.
Almost all physicians use unsecure SMS for patient care, risking HIPAA violations and data breaches. Medsecure is an enterprise application built for secure texting among physicians and practitioners of Springfield Clinic. It allows doctors to communicate within a completely secure environment and easily collaborate with fellow doctors to discuss patients. The target users are male or female clinicians or physicians between 40-50 years old in Illinois with medium to high computer experience who want a texting solution that is secured, encrypted, fast, efficient and easy to use to enable communication, collaboration, whiteboard sharing, smart assistance and integration within a secured system.
Este documento proporciona información sobre una guía de observación para una alumna llamada Brenda Lomelín García en el grupo 601 del Centro Regional de Educación Normal. La guía incluye detalles sobre el entorno escolar, la infraestructura del salón de clases, las relaciones entre maestros, alumnos y padres, y los problemas que se presentan en la institución.
Este documento presenta un diagnóstico del Jardín de Niños "Alborada Feliz" en Tomatal, Gro, México. Se identifica la falta de convivencia entre los estudiantes como un problema, ya que no comparten materiales ni trabajan en equipo. El proyecto busca mejorar la convivencia aplicando estrategias didácticas como juegos y actividades que promuevan el respeto, la tolerancia y la inclusión entre los estudiantes.
This document provides 3 case examples of financial institutions implementing promising practices to empower customers and fight exploitation:
1) Barclays uses data analytics to identify at-risk customers and provides education to protect them from fraud. They also offer accessibility features like high-contrast debit cards and digital learning courses.
2) Bank of American Fork promotes an "Age-Friendly Champion" program where employees receive extra training to help vulnerable customers and spot fraud or stressed caregivers.
3) The Oregon Bankers Association developed an elder fraud prevention training kit distributed nationwide, increasing bank reporting of abuse in Oregon by 287%.
Importancia de la comunicación en las organizaciones Aranza3004
Este documento describe la importancia de la comunicación en las organizaciones. Explica que la comunicación es el proceso de intercambiar información entre personas y que la comunicación organizacional permite orientar conductas individuales para trabajar juntos hacia una meta común. También señala que las nuevas tecnologías han brindado beneficios como velocidad, acceso las 24 horas y trabajo colaborativo. Finalmente, detalla que la comunicación organizacional es importante para difundir objetivos, evitar problemas, ayudar a los empleados a desempeñar sus funciones y motivar
Este documento proporciona información sobre la observación de una maestra y su grupo en un jardín de niños. Describe los detalles del jardín como su ubicación, infraestructura, condiciones de los salones, relaciones entre maestros/alumnos/padres, y problemas que se presentan. También incluye detalles sobre la comunidad donde se encuentra el jardín.
Las rubricas son una herramienta de evaluación que permite describir de manera clara y objetiva los criterios de calidad de un trabajo o actividad y los niveles de logro esperados. Se utilizan para evaluar trabajos entre el 30 de junio y el 10 de julio de 2016.
Este documento presenta varias situaciones de aprendizaje para enseñar a niños de primer grado sobre los números. Las actividades incluyen identificar números en tarjetas y objetos, comparar colecciones para determinar cuál tiene más o menos, contar elementos, y reconocer números en la vida diaria. Se utilizarán cuentos, juegos, y materiales como cubos mágicos y fichas para hacer comparaciones y desarrollar la comprensión de los números.
Delovan Yasin Ramzi has over 15 years of experience working in translation, food service, immigration, security, and language skills. He is fluent in German, Greek, Turkish, Persian, Dutch, Arabic, English, and Kurdish. His objective is to obtain a position that will utilize and increase his knowledge through continuous training and improvement of skills.
El documento presenta una planeación didáctica para una sesión sobre oficios y profesiones. La secuencia didáctica incluye dinámicas y actividades como identificar utensilios de oficios, elaborar carteles representando oficios, y cocinar pan como panaderos usando trajes y materiales temáticos. La evaluación se hará con rubricas que midan la participación, actitudes y uso de materiales.
The document outlines an investment process used by SSgA that seeks to provide benchmark-like returns through efficient portfolio construction while minimizing transaction costs. Key aspects of the process include timely processing of information; regularly reviewing processes and tools for enhancements; portfolio managers and traders working together to minimize costs; monthly performance reviews; and a multidimensional risk management approach with multiple levels of external review.
This document provides an overview of the Center for Advanced Financial Education (CAFE) at Roger Williams University for the period ending December 1, 2015. It summarizes the objectives of CAFE, the student fund managers and associates overseeing the fund, as well as the facilities available. The document then covers analyses including global economic analysis, sector and industry analysis, fundamental analysis of individual companies, behavioral analysis, portfolio modeling, construction and performance. It discusses diversifying the portfolio through reallocation, risk-adjusted returns, and year-to-date performance compared to the S&P 500. In summary, it reports on the activities and performance of the student-managed CAFE fund for the period.
The document discusses the Australian government's current project to examine the feasibility of sustainability reporting. The project will assess sustainability reporting by mid-2012 through a reference group and pilot programs with relevant consultation. Key considerations for the project include working within existing Australian reporting guidelines and standards, avoiding additional reporting burdens, and using existing reporting bases, indices and metrics where possible. The document also outlines some of the main issues to consider in designing a sustainability reporting system, such as scope, standards, assurance, and implementation challenges.
220 Sports Capital is proposing an innovative sports investment platform that provides capital solutions across the sports ecosystem. It sees opportunities from industry dislocation due to COVID-19 and sustained growth in sports franchise values. The platform will offer a suite of credit, quasi-debt, and equity products to professional sports teams, leagues, broadcasters, and sponsors. It has an initial pipeline of deals exceeding $200 million. 220 Sports Capital believes its decades of sports experience and proprietary deal flow position it for success in deploying capital across global sports.
Capital raising activity is ever-changing. Asset managers are looking for new ways to raise capital and push the boundaries as greater pressure is placed on traditional models.
The desire to increase hold periods, lower the cost of capital, alter and diversify investment strategies, and provide liquidity for investors has caused managers to reprioritize long-term business objectives. Indeed, permanent capital and other specialty finance structures which were once considered non-conventional in the industry have become a common discussion point for asset managers evaluating the strategy of their next fundraising effort.
2017-01-25 A Framework for Strengthening Your Nonprofit’s Investment Reserve ...Raffa Learning Community
Nonprofit Executives and their Boards know they must periodically review reserve or investment policies. They don’t always know, however, what’s involved. Through his work on the Study on Nonprofit Investing (SONI), Dennis Gogarty of Raffa Wealth Management has developed an easy-to-follow investment policy framework which will assist nonprofits in developing or strengthening their organization’s policy and procedures.
2016-10-27 A Framework for Strengthening Your Nonprofits Investment Reserve P...Raffa Learning Community
This document summarizes the results of a survey of 722 nonprofit finance executives about their organization's investment policies and results. It finds that nonprofit investment policies often do not fully align with strategic plans or asset allocation strategies. Additionally, many nonprofits do not have clear expectations around investment performance benchmarks and risk tolerances. The document recommends that nonprofits review their policies to ensure goals, governance, reporting, policy components, and key considerations are addressed when evaluating investment strategies.
Capital raising activity is ever changing. Asset managers are looking for new ways to raise capital and push the boundaries as greater pressure is placed on traditional models.
The desire to increase hold periods, lower the cost of capital, alter and diversify investment strategies, and provide liquidity for investors has caused managers to reprioritize long-term business objectives. Indeed, permanent capital and other specialty finance structures, which were once considered non-conventional in the industry, have become a common discussion point for asset managers that are evaluating the strategy of their next fundraising effort.
Our panel will discuss the range of various permanent capital structures, including Permanent Capital Acquisition Partnerships (PCAPs), Real Estate Investment Trusts (REITs), Master Limited Partnerships (MLPs), YieldCos, Special Purpose Acquisition Companies (SPACs), Public Asset Managers, Business Development Companies (BDCs), Closed End Funds, Interval Funds, and Variable Annuity and Variable Life Funds. We will also discuss various issues associated with these products, including:
• Strategic comparison of structures;
• Market trends and investor base;
• Distribution requirements;
• Tax consequences; and
• Regulatory requirements.
Uncommon Knowledge: Learn what new investors can expect when they work with SEI and Park Avenue Securities.
www.fhfg.com
See what everyone's talking about on my Voices page:
http://www.scl.bz/users/1/stevenlichtenstein
http://facebook.com/pages/Steven-D-Lichtenstein-CLU-ChFC/245576538796818
www.linkedin.com/in/stevenlichtenstein
Steven D. Lichtenstein is an Investment Advisor and Registered Representative of Park Avenue Securities LLC (PAS). Securities products/services and advisory services are offered by PAS,95-25 Queens Blvd, 10th Fl., Rego Park, N.Y. 11374, 1-718-268-9255, a Registered Investment Advisor and broker-dealer. Forest Hills Financial Group Inc. is not an affiliate or subsidiary of PAS. PAS is a member of FINRA, SIPC. Steven D. Lichtenstein is a Field Representative of The Guardian Life Insurance Company of America, New York, N.Y. 10004.
Steven D. Lichtenstein is an authorized user of The Living Balance Sheet, an electronic wealth organizational platform that provides a wide-angle view of your financial world and enables him to stress test your current financial approach. Gain insight and clarity on your complete financial picture, which when coupled with his professional experience and credentials, may provide you with the ability to make well-informed personal and business decisions and to take appropriate actions to achieve your desired results.
On 11th February 2016 the Big Lottery Fund and CBO evaluation team ran a peer learning event for people developing SIBs related to health. These slides are from the workshop on submitting a Full Application.
Private equity overview presentation delivered to Drexel University students. Presentation highlights overall private equity market, fund structure, economics, and terms, as well as investment process.
Este documento proporciona información sobre una guía de observación para una alumna llamada Brenda Lomelín García en el grupo 601 del Centro Regional de Educación Normal. La guía incluye detalles sobre el entorno escolar, la infraestructura del salón de clases, las relaciones entre maestros, alumnos y padres, y los problemas que se presentan en la institución.
Este documento presenta un diagnóstico del Jardín de Niños "Alborada Feliz" en Tomatal, Gro, México. Se identifica la falta de convivencia entre los estudiantes como un problema, ya que no comparten materiales ni trabajan en equipo. El proyecto busca mejorar la convivencia aplicando estrategias didácticas como juegos y actividades que promuevan el respeto, la tolerancia y la inclusión entre los estudiantes.
This document provides 3 case examples of financial institutions implementing promising practices to empower customers and fight exploitation:
1) Barclays uses data analytics to identify at-risk customers and provides education to protect them from fraud. They also offer accessibility features like high-contrast debit cards and digital learning courses.
2) Bank of American Fork promotes an "Age-Friendly Champion" program where employees receive extra training to help vulnerable customers and spot fraud or stressed caregivers.
3) The Oregon Bankers Association developed an elder fraud prevention training kit distributed nationwide, increasing bank reporting of abuse in Oregon by 287%.
Importancia de la comunicación en las organizaciones Aranza3004
Este documento describe la importancia de la comunicación en las organizaciones. Explica que la comunicación es el proceso de intercambiar información entre personas y que la comunicación organizacional permite orientar conductas individuales para trabajar juntos hacia una meta común. También señala que las nuevas tecnologías han brindado beneficios como velocidad, acceso las 24 horas y trabajo colaborativo. Finalmente, detalla que la comunicación organizacional es importante para difundir objetivos, evitar problemas, ayudar a los empleados a desempeñar sus funciones y motivar
Este documento proporciona información sobre la observación de una maestra y su grupo en un jardín de niños. Describe los detalles del jardín como su ubicación, infraestructura, condiciones de los salones, relaciones entre maestros/alumnos/padres, y problemas que se presentan. También incluye detalles sobre la comunidad donde se encuentra el jardín.
Las rubricas son una herramienta de evaluación que permite describir de manera clara y objetiva los criterios de calidad de un trabajo o actividad y los niveles de logro esperados. Se utilizan para evaluar trabajos entre el 30 de junio y el 10 de julio de 2016.
Este documento presenta varias situaciones de aprendizaje para enseñar a niños de primer grado sobre los números. Las actividades incluyen identificar números en tarjetas y objetos, comparar colecciones para determinar cuál tiene más o menos, contar elementos, y reconocer números en la vida diaria. Se utilizarán cuentos, juegos, y materiales como cubos mágicos y fichas para hacer comparaciones y desarrollar la comprensión de los números.
Delovan Yasin Ramzi has over 15 years of experience working in translation, food service, immigration, security, and language skills. He is fluent in German, Greek, Turkish, Persian, Dutch, Arabic, English, and Kurdish. His objective is to obtain a position that will utilize and increase his knowledge through continuous training and improvement of skills.
El documento presenta una planeación didáctica para una sesión sobre oficios y profesiones. La secuencia didáctica incluye dinámicas y actividades como identificar utensilios de oficios, elaborar carteles representando oficios, y cocinar pan como panaderos usando trajes y materiales temáticos. La evaluación se hará con rubricas que midan la participación, actitudes y uso de materiales.
The document outlines an investment process used by SSgA that seeks to provide benchmark-like returns through efficient portfolio construction while minimizing transaction costs. Key aspects of the process include timely processing of information; regularly reviewing processes and tools for enhancements; portfolio managers and traders working together to minimize costs; monthly performance reviews; and a multidimensional risk management approach with multiple levels of external review.
This document provides an overview of the Center for Advanced Financial Education (CAFE) at Roger Williams University for the period ending December 1, 2015. It summarizes the objectives of CAFE, the student fund managers and associates overseeing the fund, as well as the facilities available. The document then covers analyses including global economic analysis, sector and industry analysis, fundamental analysis of individual companies, behavioral analysis, portfolio modeling, construction and performance. It discusses diversifying the portfolio through reallocation, risk-adjusted returns, and year-to-date performance compared to the S&P 500. In summary, it reports on the activities and performance of the student-managed CAFE fund for the period.
The document discusses the Australian government's current project to examine the feasibility of sustainability reporting. The project will assess sustainability reporting by mid-2012 through a reference group and pilot programs with relevant consultation. Key considerations for the project include working within existing Australian reporting guidelines and standards, avoiding additional reporting burdens, and using existing reporting bases, indices and metrics where possible. The document also outlines some of the main issues to consider in designing a sustainability reporting system, such as scope, standards, assurance, and implementation challenges.
220 Sports Capital is proposing an innovative sports investment platform that provides capital solutions across the sports ecosystem. It sees opportunities from industry dislocation due to COVID-19 and sustained growth in sports franchise values. The platform will offer a suite of credit, quasi-debt, and equity products to professional sports teams, leagues, broadcasters, and sponsors. It has an initial pipeline of deals exceeding $200 million. 220 Sports Capital believes its decades of sports experience and proprietary deal flow position it for success in deploying capital across global sports.
Capital raising activity is ever-changing. Asset managers are looking for new ways to raise capital and push the boundaries as greater pressure is placed on traditional models.
The desire to increase hold periods, lower the cost of capital, alter and diversify investment strategies, and provide liquidity for investors has caused managers to reprioritize long-term business objectives. Indeed, permanent capital and other specialty finance structures which were once considered non-conventional in the industry have become a common discussion point for asset managers evaluating the strategy of their next fundraising effort.
2017-01-25 A Framework for Strengthening Your Nonprofit’s Investment Reserve ...Raffa Learning Community
Nonprofit Executives and their Boards know they must periodically review reserve or investment policies. They don’t always know, however, what’s involved. Through his work on the Study on Nonprofit Investing (SONI), Dennis Gogarty of Raffa Wealth Management has developed an easy-to-follow investment policy framework which will assist nonprofits in developing or strengthening their organization’s policy and procedures.
2016-10-27 A Framework for Strengthening Your Nonprofits Investment Reserve P...Raffa Learning Community
This document summarizes the results of a survey of 722 nonprofit finance executives about their organization's investment policies and results. It finds that nonprofit investment policies often do not fully align with strategic plans or asset allocation strategies. Additionally, many nonprofits do not have clear expectations around investment performance benchmarks and risk tolerances. The document recommends that nonprofits review their policies to ensure goals, governance, reporting, policy components, and key considerations are addressed when evaluating investment strategies.
Capital raising activity is ever changing. Asset managers are looking for new ways to raise capital and push the boundaries as greater pressure is placed on traditional models.
The desire to increase hold periods, lower the cost of capital, alter and diversify investment strategies, and provide liquidity for investors has caused managers to reprioritize long-term business objectives. Indeed, permanent capital and other specialty finance structures, which were once considered non-conventional in the industry, have become a common discussion point for asset managers that are evaluating the strategy of their next fundraising effort.
Our panel will discuss the range of various permanent capital structures, including Permanent Capital Acquisition Partnerships (PCAPs), Real Estate Investment Trusts (REITs), Master Limited Partnerships (MLPs), YieldCos, Special Purpose Acquisition Companies (SPACs), Public Asset Managers, Business Development Companies (BDCs), Closed End Funds, Interval Funds, and Variable Annuity and Variable Life Funds. We will also discuss various issues associated with these products, including:
• Strategic comparison of structures;
• Market trends and investor base;
• Distribution requirements;
• Tax consequences; and
• Regulatory requirements.
Uncommon Knowledge: Learn what new investors can expect when they work with SEI and Park Avenue Securities.
www.fhfg.com
See what everyone's talking about on my Voices page:
http://www.scl.bz/users/1/stevenlichtenstein
http://facebook.com/pages/Steven-D-Lichtenstein-CLU-ChFC/245576538796818
www.linkedin.com/in/stevenlichtenstein
Steven D. Lichtenstein is an Investment Advisor and Registered Representative of Park Avenue Securities LLC (PAS). Securities products/services and advisory services are offered by PAS,95-25 Queens Blvd, 10th Fl., Rego Park, N.Y. 11374, 1-718-268-9255, a Registered Investment Advisor and broker-dealer. Forest Hills Financial Group Inc. is not an affiliate or subsidiary of PAS. PAS is a member of FINRA, SIPC. Steven D. Lichtenstein is a Field Representative of The Guardian Life Insurance Company of America, New York, N.Y. 10004.
Steven D. Lichtenstein is an authorized user of The Living Balance Sheet, an electronic wealth organizational platform that provides a wide-angle view of your financial world and enables him to stress test your current financial approach. Gain insight and clarity on your complete financial picture, which when coupled with his professional experience and credentials, may provide you with the ability to make well-informed personal and business decisions and to take appropriate actions to achieve your desired results.
On 11th February 2016 the Big Lottery Fund and CBO evaluation team ran a peer learning event for people developing SIBs related to health. These slides are from the workshop on submitting a Full Application.
Private equity overview presentation delivered to Drexel University students. Presentation highlights overall private equity market, fund structure, economics, and terms, as well as investment process.
Loan Fund Program Informational Meetingtiffanycfslc
Loan Program Informational Meeting that describes the process for moving forward with the introduction of available capital for entrepreneurs that would augment traditional financing streams.
This corporate presentation from BBVA provides an overview of the company in 4 sections:
1) About BBVA - Details BBVA's global presence, history, main figures, share information, organizational chart, team, and social commitments.
2) Unique banking model - Describes BBVA's transformation to become more customer-centric.
3) Transformation from and to the customer - Focuses on improving the customer experience.
4) Results' highlights - Summarizes 2015 financial results including income, assets, profits, and key metrics.
SLF SESSION | New Drivers of the Retirement MarketNICSA
This document discusses trends in the evolving US retirement market and forces driving change. It notes that the $25 trillion retirement market is shifting from defined benefit to defined contribution plans and individually directed accounts. Key forces shaping the market include regulation focused on improving retirement outcomes, demographic trends like delayed retirement, and product innovation including target date funds, liquid alternatives, and collective investment trusts. The document examines case studies of firms innovating retirement solutions using collective investment trusts to enter new markets, better serve large plans, and facilitate corporate restructurings.
The Capabilities of Foley and Foley Wealth Strategieslukefields1
This document outlines the financial planning process of Foley & Foley Wealth Strategies. It discusses their mission to provide comprehensive financial advice to build, manage and preserve client wealth. Their approach involves a team-based analysis of all aspects of a client's financial life. Their objective is to accomplish their mission profitably while giving back to the community. The document then describes their three stage financial planning process of analysis, portfolio construction, and education/communication with clients.
Introduction to Wealth Management Industry by Miles SoftwareMiles_Software123
This document provides an overview of wealth management including what it is, who provides services, target audiences, benefits, and how the industry has evolved. Wealth management involves providing financial planning, investment management, retirement planning, and estate planning services to high net worth individuals and others. Services are offered by asset management companies, portfolio management companies, private wealth advisors, and banks. The goals are to completely analyze a client's financial situation, monitor it over time, help build and protect their wealth, and provide expert advice.
This document provides an introduction to financial management. It defines financial management as the planning, organizing, directing and controlling of financial activities such as procuring and utilizing funds for an enterprise. The key aspects of financial management discussed include the functions of financial management like investment, financing and dividend decisions. It also outlines the objectives of financial management as maximizing profit, shareholder wealth and earnings per share. Additionally, it discusses the interface of financial management with other business functions and the different areas of finance like personal, corporate and public finance.
Carfinco Financial Group Inc. is a provider of automotive financing that has experienced consistent annual growth. The company has expanded its credit facility to $205 million and services over 21,000 customers. Analysts have given the company strong buy recommendations and forecast continued revenue and earnings growth in 2013.
This document provides an overview of HollyFrontier Corporation and Holly Energy Partners. Key points include:
- HollyFrontier is a pure play inland refining company with 443,000 barrels per day of crude capacity located near North American crude production.
- Its collaboration with Holly Energy Partners provides strategic growth opportunities in logistics and marketing operations.
- Both companies maintain investment grade credit ratings and have access to sizable credit facilities.
- HollyFrontier focuses on refining while Holly Energy Partners focuses on logistics and transportation. Their collaboration allows them to leverage complementary assets and operations.
Smallholder and SME Investment Finance (SIF) FundExternalEvents
https://webapps.ifad.org/members/eb/120/docs/EB-2017-120-R-26.pdf
IFAD plans to introduce the Smallholder and Small and Medium-Sized Enterprise
Investment Finance Fund (SIF) to invest in smallholder organizations and rural
SMEs. This will be set up in an operating environment that
will jointly support agricultural value chains and apply de-risking mechanisms.
Similar to Treasury Report Presentation with KAJ edits 2015 09 10 (20)
2. Operating Funds Investment Program
History
March 2005 Concluded competitive solicitation for investment consultant
June 2005 BOT approved the original investment policy
March 2006 Implemented with Wilshire Consulting
2
Prior to the implementation of the current investment program, all FIU operating funds were
invested with the Florida State Treasury’s Special Purpose Investment Account (SPIA)
3. Operating Funds Investment Program
Governance
Florida Statute 218.415, Local Government Investment Policies
• Requires written investment policy
• Prioritizes safety of capital, liquidity and return
• Requires prudent and ethical standards
• Recognizes risk and diversification
Investment Policy
• BOT approved original and all subsequent amendments
• Eight revisions since 2005
• Most recent amendment, January 2015, added Credit Fixed Income and Master
Limited Partnerships
3
4. Operating Funds Investment Program
Governance (continued)
Audit Review
• Policy and procedures audited by the State’s Auditor General in 2013
• Concluded the investments were made in accordance with BOT policy and F.S. 218.415
• Noted that policy did not explicitly require continuing education although
requirement was fulfilled
• Resolved by amending policy to include annual certification of CE requirement
Committee
• Designee of the BOT: Gerald C. Grant, Jr.
• CFO of the University: Kenneth A. Jessell, Ph.D.
• Treasurer of the University: P. Tony Vu
• Representative from Academics: Chun-Hao Chang, Ph.D.
• Community Expert: William Welch, Ph.D. (optional, up to two)
4
5. Operating Funds Investment Program
Governance (continued)
Consultant
Wilshire Consulting
• Continuous monitoring of markets and managers
• Quarterly reviews
Custodian
Regions Trust
• Monthly statements
• Transactions verification
• Market values validation
5
6. Operating Funds Investment Program
Diversification
Market Value, June 30, 2015: $294.2 million
6
21%
27%
23%
20%
9%
Broad Markets Exposure Across Several Asset Classes
A. Working Capital Pool ($76.1 M)
•SPIA, Money Markets, Depository Account
B. Fixed Income ($73.6 M)
•Investment Grade Core, High Yield, Credit
C. Real Assets ($63.4 M)
•TIPS, Commodities, Global REITs, MLPs
D. Equities ($54.5 M)
•US Large Cap, US Small Cap, Non-US, Private
A
B
C
D
E
7. Operating Funds Investment Program
Working Capital Pool
Market Value, June 30, 2015: $76.1 million
7
$54.0M
$6.0M
$5.1M
$5.0M
$5.9M
Focus on Safety and Liquidity
A. State of Florida Special Purpose Investment Account
B. Commonfund Treasury Access
C. Morgan Stanley Institutional Liquidity Fund
D. Regions Bank
E. Bank of America Depository Account
A
B
C
D
E
8. Operating Funds Investment Program
Strategic Capital and Reserve Pools
Market Value, June 30, 2015: $218.1 million
Focus on Diversification and Risk-Adjusted Returns for Funds Not Needed Short Term
8
$73.6M
$63.4M
$54.5M
$26.6M
A. Fixed Income
B. Real Assets
C. Equity
D. Absolute Return
A
B
C
D
10. Operating Funds Investment Program
Performance as of June 30, 2015
10
* Benchmark based upon target asset allocation. The actual asset allocation of the portfolio is typically overweight to
the Working Capital Pool due to seasonality.
1.8% 1.7%
2.1%
2.8%
-0.5%
3.9%
4.6% 4.3%
-0.6%
3.1%
4.2% 4.2%
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
FYTD Trailing 3 Year Trailing 5 Year Since Inception
SPIA FIU Benchmark*
11. Operating Funds Investment Program
Contribution to University’s Unrestricted Net Position
11
$146.8 $143.5 $132.5 $119.5 $97.6 $87.3
$10.7 $13.2
$6.0
$8.2
$9.1
$9.3
$21.1
$41.4
$44.2 $54.7
$75.8
$69.2
$0
$50
$100
$150
$200
$250
2010 2011 2012 2013 2014 2015e
Committed Fund Balances SPIA Performance Treasury Performance
Thank you to you and the committee for your interest in the work of the Investment Committee and the operating funds investment program.
As a quick refresher, the FIU created the program in early 2005 and approved the investment policy by mid-year.
With the investment policy in place, the we implemented the program fully by the first quarter of 2006 with the help of our consultants, Wilshire.
1011.42 -> 218.415
“1011.42 (5): (5) Funds awaiting clearing may be invested in investments earning interest in a qualified depository, in the State Treasury, and in the State Board of Administration. Investments of university funds shall comply with the requirements of Florida Statutes for the investment of public funds by local government. Due diligence shall be exercised to assure that the highest available amount of earnings is obtained on investments.”
The investment program is governed by Florida Statutes which requires the aforementioned investment policy.
Prioritizes:
1. SAFETY or RISK
2. LIQUIDITY
3. RETURN
Prudent person requirement.
As you can see, the policy is not stagnant. We made eight amendments since the original and all amendments are reviewed and approved by the investment committee, this finance and audit, and the full Board of Trustees.
Also, as part of the normal process, the state audited the investment program, policy and procedures.
The auditor noted that the policy did not explicitly have a requirement for continuing education. However, we were in full compliance in practice and continue to be in compliance every year.
We added the continuing education requirement to the policy at our earliest chance.
I’d like to take this opportunity to welcome Trustee Grant to the investment committee. I have worked briefly with Trustee Grant on the Foundation side and look forward to taking advantage of his financial and investment experience and knowledge.
We rely on experts to assist us in managing the portfolio.
We have here today:
Nick Sefchok from Wilshire consulting.
Oscar Herrera from Regions Bank.
Chris Monte from Regions Trust.
They and their organizations are a trusted and reliable part of our investment process.
On to the portfolio.
As mentioned, we’re driven by the priorities of the statutes. The first priority is safety.
We accomplish this through diversification. As you can see, we investment in a wide spectrum of asset classes and sub-classes.
Zooming in to the Working Capital Pool.
We keep an large part of the liquidity in this part of the portfolio.
Balances in this pool range from just below this balance of $76 million, up to $200 million depending on the time of the year.
For example, as of yesterday, the Working Capital Pool balance was $152.8 million.
In the Strategic Capital and Reserve Pools, we have funds that not needed for immediately by the university.
Here, we look to diversify and seek risk-adjusted returns to increase the OVERALL performance of the portfolio.
Now backing up again, we can see that separately our expected risk for the Working Capital Pool is low (green dot) but so is the expected return.
Conversely, our Strategic/Reserve Pool risk and return are both higher (blue dot)
Together, for the ENTIRE investment program (red dot), is on the efficient frontier of our asset choices.
MOST importantly, the expected RISK is lower and the expected RETURN is higher for our portfolio than it is for the main alternative, the State Treasury’s investment pool.
As you can see in the long term, our portfolio has outperformed SPIA by 150 basis points.
Over 3- and 5-years, we more than doubled the performance of SPIA.
How does this translate from basis points into dollars?
Over the last five years, the investment program has added almost $70 million in uncommitted, unrestricted assets to the university’s bottom line versus the SPIA alternative OR
Almost $80 million OVERALL.
Again thank you for your time and attention.
Are there any further questions at this time?