The Life Members Reserve FUND (“FUND”) shall be invested in a professionally managed, well-diversified investment portfolio subject to the following:
- 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.
- 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.
- c. Investments shall never include commodities or FUNDs that utilize them (except investments in metals, as inflation hedges.
- d. Investments in options shall only be employed as “hedge investments”.
- 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).