Consulting Services

Investment Goals & Objectives

Investment goals are the starting point of all of our client relationships and are detailed
in an investment policy statement. ACG provides assistance in creating a flexible policy statement that communicates objectives, expectations, responsibilities and benchmarks
to guide the client's investment process.

We begin this process by holding an "Investment Policy Working Session" to examine the issues involved such as risk tolerance, service needs, investment sensitivities, etc. Education is the critical part of this process, and it is crucial that all committee members and staff understand and feel comfortable with everything contained in the document.

Once the information-gathering stage is complete, ACG drafts a document which reflects the Board's sentiment and addresses the following key elements:

Purpose Statement	States purpose of the document and it's jurisdiction.
Investment Goals and Objectives	States long-term fund objectives and describes how the portfolio will be managed to achieve those objectives.
Responsibilities	Identifies roles and responsibilities of all those involved in the investment process.
Identification of Key Constraints	Places boundaries on investment decision making.
Eligible Investments	Explicitly states the type of assets eligible for investment.
Asset Allocation/Liability Process	Identifies the portfolio structure that best meets the Fund's liabilities.
Portfolio Rebalancing Process	Identifies the frequency and process for rebalancing the portfolio to bring it in line with the stated target portfolio structure.
Risk Management Process	Identifies the process for monitoring and managing the risk structure of the portfolio.
Performance Benchmarks	Identifies both total fund and asset class specific benchmarks used to evaluate performance.
Performance Reporting Process	Identifies reporting requirements and the frequency of distribution.

The last stage of the process is to discuss the draft of the document with the client and the investment managers and agree upon the final Policy Statement.