The Community Foundation maintains well-diversified portfolios that are invested with the goal to preserve and enhance the real value of these assets over time. The Community Foundation engages Wells Fargo to manage the portfolios and advise the Investment Committee on asset allocation strategy and investment policy.
The Investment Policy assists the Community Foundation of Harford County (CFHC) in effectively supervising, monitoring, reporting and evaluating the management of CFHC assets consistent with investment objectives.
The CFHC Board of Directors has ultimate fiduciary responsibly for the investable assets of the foundation. In keeping with CFHC bylaws, the Board has created an Investment Committee that will oversee the CFHC investment portfolio. All members of the CFHC Investment Committee have a legal responsibly for wisely overseeing the investment of CFHC funds.
The Investment Committee is a committee comprised of representatives from the Board, staff, the community, and the Investment Advisor. They are responsible for overseeing the management of Foundation assets and implementing the investment policy set forth in the Investment Policy Statement. They shall act solely in the best interest of the Foundation and in concert with the mission of the Foundation. They are authorized to engage the services of investment professionals. Currently, the CFHC investment portfolio Investment Advisor is with Wells Fargo Advisors, at the direction of the CFHC Investment Committee. A full list of committee members and investment fees is available by request from CFHC.
The performance objective is to grow the market value of assets less inflation, spending, and expenses, over a full market cycle (defined as a three to five year period) without undue exposure to risk. CFHC seeks to:
- Earn a total return of 5% over inflation.
- Obtain and maintain a level of programs and services through sufficient total return that is reinvested and new funds that are added to keep pace with cost increases and program expansions.
- Maximize return within reasonable and prudent levels of risk.
- Maintain an appropriate asset allocation based on a total return policy that is compatible with a flexible spending policy, while still having the potential to produce positive real returns.
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