Organize
- Roles & responsibilities of all involved parties (fiduciaries and non-fiduciaries) are defined, documented and acknowledged
- Investments are managed in accordance with applicable laws, trust documents, and written
investment policy statement (IPS) - Service agreements and contracts are in writing
Formalize
- Time horizon & cash flow demands have been identified
- Risk level has been established
- An expected modeled return to meet investment objectives has been identified
- Selected asset classes are consistent with the risk, return and time horizon
- There is an IPS in place defining implementation and monitoring of the investment strategy
Implement
- The investment strategy is implemented in compliance with the required level of prudence
- Our due diligence process is followed in selecting service providers, including the custodian
Monitor
- Periodic review comparing investment performance against an appropriate index, peer group and IPS objectives
- Periodic reviews are made of qualitative and/or organizational changes of parties involved
- Fees for investment managers are reasonable and consistent with agreements and all applicable laws
- Periodic review of the organization’s effectiveness in meeting its fiduciary responsibilities & performance expectations