There are three critical areas to focus on when establishing an investment program. These are the development of an investment policy statement, establishing strategic asset allocation targets and policy, and the selection of investment managers and asset custodian. Although all of these activities are interrelated, all should be approached from an individual perspective when the investment portfolio is initially being structured. During the process of structuring the portfolio, expectations in terms of the desired outcome from the portfolio management process should be clearly delineated. Unrealistic or inconsistent expectations will lead to poor management decisions.
Concord will draft an investment policy statement customized to meet specific client needs. This IPS is the governing document for the investment program and for oversight of the investment portfolio(s).
Concord will review the investment policy statement on a regular basis. Updates or adjustments may be warranted if significant changes have occurred at the organizational level or within the general investment market conditions.