FROM: Don Pierce, Chief Investment Officer
SUBJECT: Investment Policy No. 018 (International Swap Dealer Association Agreements & Prime Broker Agreements)
RECOMMENDATION:
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Recommend that the Board approve and adopt updates to Investment Policy No. 018 (International Swap Dealer Association Agreements & Prime Broker Agreements).
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BACKGROUND:
General Policy No. 005 involves the periodic review of Board Policies and indicates that the Investment Committee shall review investment policies every three years.
Investment Policy No. 018 (International Swap Dealer Association Agreements & Prime Broker Agreements) was last reviewed in 2023.
Investment staff, NEPC, and our Legal department have conducted a review of Investment Policy No. 018 (International Swap Dealer Association Agreements & Prime Broker Agreements) and has found it consistent with current practice. Staff is therefore recommending renewal of Investment Policy No. 018 (International Swap Dealer Association Agreements & Prime Broker Agreements) without substantive change.
BUDGET IMPACT:
None.
STRATEGIC PLANNING GOAL/OBJECTIVE:
Prudent Fiscal Management
STAFF CONTACT:
Don Pierce
ATTACHMENTS:
Exhibit A: Investment Policy No. 018 (International Swap Dealer Association Agreements & Prime Broker Agreements)