University Resources, Operations and Policies

 

Statement of Investment Policies and Objectives


Policy Statement

Adelphi intends to typically use pooled or mutual funds as the investment managers in the University’s Endowment Fund. The prospectus or investment management agreement of each fund considered or currently in place as an investment manager will be reviewed periodically to ensure that the stated investment philosophy of the manager is appropriate versus this investment policy. If the investment manager exhibits an investment philosophy or objective inconsistent with those previously approved by the Finance and Investment Committee, such will be taken into consideration by the Committee in its performance monitoring evaluation.

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Reason for Policy                                                                    

The Statement of Investment Policies and Objectives is the result of discussions between the Finance and Investment Committee (“the Committee”) of Adelphi University (“the University”) and Aon Hewitt Investment Consulting, Inc. (“AHIC”). The purpose of this statement is to assist the University and the investment managers in effectively supervising and managing the assets of the Adelphi University Endowment/Quasi-Endowment Fund (“the Endowment”), and Operating Cash pool (“Operating Cash”). This statement:

  • Outlines the delegation of responsibilities for the Endowment Fund and Operating Cash Pools;
  • Describes an appropriate risk posture for the Endowment and Operating Cash assets;
  • Specifies the target asset allocation policies and the investment manager structures;
  • Establishes investment guidelines for individual managers regarding permissible assets, diversification, quality, transactions costs, proxy voting, etc.; and
  • Specifies the criteria for evaluating the performance of the investment managers.

The Committee believes the investment policies described in this statement should be dynamic. These policies should reflect the University’s current status and the Committee’s current philosophy regarding investment of these assets. The policies will need to be reviewed and possibly revised from time to time to ensure they adequately reflect any changes related to the University, its asset pools, and the capital markets.


Who Is Governed by this Policy                                         

Staff


Contacts                                                                       

Policy Owner 

Robert DeCarlo
516.877.3184
decarlo@adelphi.edu              

Secondary Contact

Paul Nelson
516.877.3191
nelson2@adelphi.edu


Document History                                                      

  • Last Reviewed Date: October 16, 2017
  • Last Revised Date: October 16, 2017
  • Policy Origination Date: Not known 

Who Approved This Policy                                                  

Robert DeCarlo, Chief Financial Officer & Associate Vice President

Michael J. McLeod, Assistant Vice President & Budget Director

 
 
 
 
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