The Life Members Reserve FUND (“FUND”) shall be invested in a professionally managed, well-diversified investment portfolio subject to the following:

  1. a. On at least an annual basis, the Treasurer will review the asset allocation model employed in the FUND, to ensure appropriate diversification by asset class, industry, and other measures.
  2. b. The account should be managed by a Registered Investment Advisor, preferably compensated by fees versus trades. Advisor must be licensed to trade in a range of securities, to include mutual FUNDs, stocks, bonds, exchange-traded FUNDs, etc.
  3. c. Investments shall never include commodities or FUNDs that utilize them (except investments in metals, as inflation hedges.
  4. d. Investments in options shall only be employed as “hedge investments”.
  5. e. The USAWOA Bookkeeper will maintain all financial statements and reports, provide them to the Treasurer, who will in turn provide regular updates at EXCOM meetings as a part of his/her normal reports (and on an annual basis to the USWOA Board of Directors).