IPA/GIFT F INANCE AND I NVESTMENT D EEP D IVE D AY INVESTMENT RFP PANEL N OVEMBER 4, 2015.

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Presentation transcript:

IPA/GIFT F INANCE AND I NVESTMENT D EEP D IVE D AY INVESTMENT RFP PANEL N OVEMBER 4, 2015

SERVICE PROVIDERS, CUSTODIANS, COMPENSATION Types of Providers  Brokerage Firms  Banks  Registered Investment Advisors  Mutual Fund Companies Types of Service Models  Non-Discretion  Limited Discretion  Full Discretion  Is OCIO an additional choice? IPA/GIFT F INANCE AND I NVESTMENT D EEP D IVE D AY

SERVICE PROVIDERS, CUSTODIANS, COMPENSATION Types of Products  Cash, Bonds, Stocks  Mutual Funds, ETFs, Index Funds, Sub-Advised Funds  Hedge Funds, Private Equity, Other Illiquid Investments Custody of Funds  Local/Regional  National  Third Party IPA/GIFT F INANCE AND I NVESTMENT D EEP D IVE D AY

SERVICE PROVIDERS, CUSTODIANS, COMPENSATION Fees and Compensation  Advice  Product  Transactions  Custody  Direct vs. Indirect Research, Recommendations and Resources  Get to know SEC FORMs ADV Part I and Part II  Understand when conflicts of interest are present  arch.aspx  brokercheck.finra.org IPA/GIFT F INANCE AND I NVESTMENT D EEP D IVE D AY

The foundation makes payouts for grants and administrative fees from the earnings of the endowment funds each year. In order for the endowed assets to grow, the net total return must be enough for the annual payout needs plus inflation and real growth over time. 4.0% 4.5% 5.0% Payout % for grantmaking 1.0%1.5%1.0%1.5%1.0%1.5% Administrative fees 5.0%5.5% 6.0% 6.5% Total PAYOUT % 2.0% Inflation factor 0.5% Real growth factor 7.5%8.0% 8.5% 9.0% Ave. NET TOTAL RETURN desired

IPA/GIFT F INANCE AND I NVESTMENT D EEP D IVE D AY Investment/spending policies use a trailing quarter average Example 12 or 16 quarters Levels out market fluctuations Annual grant distributions are more consistent from year to year

IPA/GIFT F INANCE AND I NVESTMENT D EEP D IVE D AY RFP P ANEL Bill Barnes President Community Foundation of Madison and Jefferson County Cheryl Cooper Vice President, Charitable Services Fifth Third Bank Will Thorpe Director of Business Development-Investment Stewardship The Mason Companies Barb Young President Porter County Community Foundation William Jarvis Facilitator Executive Director Commonfund Institute