The Episcopal Diocese of Southwestern Virginia 100th Annual Convention

2019-R.3 Resolution to Ratify Revisions to the Trustees of the Funds Investment Policy Statement Submitted by the Board of the Trustees of the Funds Background: The Trustees of the Funds investment policy statement directs the Executive Committee of the Trustees of the Funds to review and consider amendments to the Trustees investment policy annually as necessary. Any amendments are to be ratified by Diocesan Convention. This past year, the full board of the Trustees of the Funds reviewed the investment policy in tandem with its search for a new investment manager. Policy revisions were made with the input of the investment manager selected through the search process. Although the core investment strategy of the IPS remains the same, the proposed changes to the IPS will provide the investment manager more latitude to expand asset classes and manage risk within the portfolio. Changes also define and expand the type of securities that can be utilized. The relevant portfolio benchmark has been updated to be more representative of the mix and the asset classes that make up the portfolio. These aforementioned revisions to the IPS are highlighted via strikethroughs and red text in the copy of the investment policy included in this 2019 Convention booklet. Resolution: WHEREAS, the full board (including the Executive Committee) of the Trustees of the Funds of the Protestant Episcopal Church in the Diocese of Southwestern Virginia, Inc amended its investment policy statement at its meeting on October 18, 2018; and WHEREAS, the investment policy states that; “The Executive committee shall review annually this Endowment Policy Statement and make such amendments thereto as it deems advisable,” and that, “Such amendments will then be ratified at Convention;” and WHEREAS, a copy of the investment policy statement last revised in 2017 is included in this Convention booklet, and WHEREAS, proposed amendments to the investment policy statement are shown in the copy of the investment policy statement included in this Convention booklet by strikethroughs (deletions) or red text (insertions); NOW, THEREFORE, BE IT RESOLVED that the 100 th Annual Convention of The Episcopal Diocese of Southwestern Virginia hereby ratifies all amendments to the investment policy statement noted in this booklet by strikethrough or red text.

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