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Investment Guidelines & Procedures
The Board of Managers for Investments and Permanent Funds maintains a set of investment guidelines to provide guidance for our Investment Advisor and the Board of Managers as we consider the companies in which to invest. The Guidelines reflect Quaker concern for stewardship of property and testimonies in a changing world.
We also maintain a set of procedures in the form of Frequently Asked Questions which describes how the Pooled Funds operate. In addition there are addenda which provide the details of how to invest and withdraw funds.
These were previously combined in one document, commonly referred to as the Green Book due to the color of the cover. These documents are occasionally changed so please make sure you have the most recent version.
NOTE: In February 2018, the Board of Managers revised the procedure to calculate quarterly distributions to the meetings participating in the fund. Having listened to the needs and concerns of many treasurers of participating meetings, the new formula is designed to:
- Provide a predictable income stream to each participating meeting
- Optimize the amount of income distributed
- Preserve and grow the total value of the fund
The new process will distribute 4% of the total value of the fund (including all interest, dividends, and capital gains or losses), as calculated at the end of the fiscal year based on a rolling average of the prior three years' fund balances.
The Investment Procedures document is in the process of being updated to reflect this change.