The purpose of an Investment Policy Statement
is to define clearly the investing framework,
asset allocation, goals, and measurement standards.
A formal, written statement provides
a sound basis for investment decisions. It also
serves to set the standards against which investment
managers performance will be measured. Each client
has unique expectations, as well as their own risk
tolerance. Our aim is to ensure that the final policy
expresses OUR CLIENTS objectives and tolerance
We begin by identifying their time horizon and their acceptable levels of investment
risk. Based on detailed asset liability analyses, we also set investment ranges
for every asset class under consideration. We gather input from our clients and
other key advisers. Once policies and objectives have been adopted, we monitor
them. As appropriate, we recommend modifications to keep them current with the
clients changing needs and market developments.