You have been sent a copy of an advanced draft of the NARGS Investment Policy. A copy is also posted under About Us > Meetings > Board of Directors Reports.
At the Board meeting in Santa Fe, that the Investment Committee was directed to begin investing Restricted Funds in instruments comprised of 70% equities. Michael Riley has agreed to continue as chair of the Investment Committee.
The AdCom, with input from Michael Riley, has revised an old investment policy that Michael included in his report to the Santa Fe meeting. This Investment Policy sets policy for governing the Investment Committee and provides guidance for investment of NARGS funds. It is subject to the approval of the Board of Directors.
Once a Policy is approved, the Chair of the Investment Committee will have the authority to select members of the Committee subject to approval by the AdCom. The Committee can then make investment recommendations to the Treasurer. In preparation, NARGS is in the process of opening a Charles Schwab account. Based on the feedback, we propose to have a vote to approve a version of this Policy beginning February 27.
Your comments on the Policy are invited.