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INVESTMENT COMMITTEE JOB DESCRIPTION
Purpose:
The Investment Committee reports to the Board of Directors of the American Academy of Medical Acupuncture to make recommendations for the investment of Academy funds.
Structure:
The Investment Committee shall be composed of the AAMA Treasurer, as chair, and at least two other Academy members.
Goals
- To oversee investments of the Academy's monies. The Board requires that an amount of at least 50% of the Annual Budget of the Academy be held in savings or investments to ensure financial stability of the Academy.
- To maximize safety of Academy funds.
- To maximize returns of investments of the Academy.
- Funds will be invested for Academy monies exceeding $100,000 Which, therefore, would not be protected by FDIC insurance.
- To minimize risk, the Investment Committee is directed to invest only In A++ rated funds,
- To diversify funds to minimize risk,, the Investment Committee will Allocate investment funds in a 1/3, 1/3, 1/3 ratio proportionally. Thus, no more than 1/3 of the Academy's financial holdings will be placed in any one fund.
- Certificates of Deposit (Cds) in conservative sound banks or secure Bonds may be used.
- Recommendations of Academy Volunteers informed by consultation with Financial Managers and other Medical Association Academies to inform the Investment Committee recommendations.
- The status of Academy investments will be reviewed quarterly by the Investment Committee members, or more frequently if necessitated by Financial conditions or AAMA need.
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