Changes

Investment Manager

6 bytes added, 13:47, 6 June 2017
The Augustan Society, Inc., having an [[Investment Fund]] of some significance, necessarily needs an '''Investment Manager''' to prudently invest the monies deposited there, and to arrange for timely withdrawals as the [[Budget]] and urgent events require. As the office of [[Treasurer]] is largely political and theoretically temporary, it may be prudent that this duty be assigned to someone with some expertise in the field who might continue in office as Treasurers come and go.
Given the sensitive nature of the duties, it is appropriate that this officer be nominated by the Treasurer an then elected by the [[Board]], with the election being repeated annually. While nominally reporting to the Treasurer for most affairs, this officer would thus be responsible to the Board as a whole.
The duties of the Investment Manager include:
* To recommend investment policy for review by the [[Finance Committee]] (if any) and approval by the [[Board]];
* To serve as a member of the Finance Committee;
* To actively manage the funds deposited in the [[Investment Fund]], selecting specific instruments, which may include managed funds;
* To provide general financial reports to the Board and Treasurer annually, and as they may request;
* To provide full details of the investments as the Treasurer or [[Audit Committee]] may request;
* To offer long-term projections of the balance of the Investment Funds under various policies as requested; and
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