Limit
Annual expenses should not exceed 4% of the Fund's value at the end of the previous year
Examples
The expenses and fees may include but are not limited to; subscriptions to investment databases, magazines, research tools, scholarships for WIF students, reimbursements for travel expenses for student professional development, board meeting expenses, alumni meetings and programs, and costs associated with the WIF website
Approval
All expenses are subject to approval by the Oversight Board
Spending
One of the objectives of the Fund is to maintain the purchasing power of the principal, in perpetuity. A policy of this nature allows the Fund to continue to meet its objectives without jeopardizing the long-term financial health of the program
Spending
One of the objectives of the Fund is to maintain the purchasing power of the principal, in perpetuity. A policy of this nature allows the Fund to continue to meet its objectives without jeopardizing the long-term financial health of the program
Approve Expenses
All expenses are subject to approval by the Oversight Board.
Evaluate Performance
The student managers present to the Oversight Board the performance of current holdings, along with the strategies and changes for the forthcoming period.
Advise Faculty
The Oversight Board advises the faculty in establishing investment objectives, advises on budgetary matters, as well as advises on revisions to the investment policy.
The Oversight Board
Our Oversight Board consists primarily of SUNY Brockport and WIF alumni who are either active or were previously engaged in the business profession
Time Horizon
The Fund, to serve its purpose, will effectively act in perpetuity
Liquidity
It is important that the Fund maintain sufficient liquidity to meet expenses.
Risk Tolerance
The Fund has an above-average risk tolerance, given the Fund's benchmark
Student Portfolio Managers and Analysts
The student portfolio managers and analysts are students who have been accepted to participate in the WIF program for academic credit. Student analysts carry out the functions assigned to them by Faculty. They are defined as follows:
Review
Review and, if necessary, change the Investment and Spending Policy Statement,
as well as the asset and sector allocation of the fund.
Research
Perform Investment research on assigned securities which may include but are not limited to, current holdings in the portfolio and potential securities that could be included in the portfolio.
Reccomend
Making recommendations on positions (including weights) to take and when to move out of specific investments.
Monitor
Monitoring the fund portfolio and generating performance evaluation reports.
Present
Give presentations and/or reports of their recommendations and fund performance to the WIF Oversight Board, as provided for in the Board Bylaws, and the SUNY Brockport Foundation Board as requested.
Student Portfolio Managers and Analysts
Alter Policies
Review and if necessary, change the ISPS
Change Allocation
Review and if necessary, change the asset and sector allocation of the fund.
Research
Investment research on assigned securities which may include but are not limited to, current holdings in the portfolio and potential securities that could be included in the portfolio.
Reccomendations
This is the space to introduce the Product section aMaking recommendations on positions (including weights) to take and when to move out of specific investmentsnd showcase the types of products available.
Rules & Regulations
We operate under monitoring from our Faculty Advisor, Professor Steven Barber, The Chairperson of the Accounting, Economics, and Finance Department, and the Dean of the School of Business and Management as well as our Oversight Board. Ultimately, we follow the guidelines laid out in the Wade Investment Fund Investment and Spending Policy Statement.
Investment and Spending Policy Statement
The purpose of the Investment and Spending Policy Statement (ISPS) is to provide an understanding of the investment objectives, policies, and guidelines. It covers fund management, any specifications and restrictions, and serves as a basis for our structure.
Objective
Our stated objective is to educate students in investment management through active participation in investment research and portfolio management, along with provide funding for expenses related to operating costs, scholarships, and occasional purchases of investment-related materials
Responsibility
The faculty assigns the responsibility for investment analysis and investment recommendations to the student portfolio managers and analysts
Faculty Function
Faculty in the WIF program are responsible for the selection and instruction of student portfolio managers and analysts. The Chairperson of the Accounting, Economics, and Finance Department, along with the Dean of the School of Business and Management are responsible for the Fund.
Investment Guidelines & Restrictions
01
Margin trading is prohibited.
02
Day trading is prohibited.
03
Stocks trading at less than $1 are prohibited.
04
Securities held in the portfolio will emulate the ESG investment principles of the Foundation Board.
05
Securities acceptable for review must have at least 3 years of operating history and are broadly classified as institutional quality.
06
Leveraged, fixed income and currency ETFs are prohibited.
07
The purchase of municipal bonds and use of derivatives (or ETFs that primarily use derivatives) is prohibited.
08
Nonconvertible preferred stock is prohibited
09
Short sales are prohibited.