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St. Thomas More College's Investment Trust
內容大綱
Derrin Raffey, chief financial officer at St. Thomas More College (STM) in Saskatoon, Saskatchewan, Canada, oversaw STM’s investment trust. With a value of more than CA$22 million, managing the trust required careful consideration of various factors, including management fees, performance, the appropriateness of the holdings, and relationships with investment managers.<br><br>At times, the trust had held investments that were not appropriate, given the college’s religious values. However, with the hiring of a new investment manager, switching from pooled fund investment to discretionary investment became an option. As STM did not have a formal process or template for reviewing investment managers, developing these was a priority. Finally, there was the question of what strategy STM should adopt—was it possible for STM to balance its need for growth and returns against other factors such as the college’s religious ethos and the wishes of its various stakeholders?
學習目標
Students will learn about various facets of investment management, including:<ul><li>Comparing and contrasting pooled fund investment with discretionary investment, taking into consideration the possibility of eliminating unsuitable holdings from a client’s portfolio by adopting a discretionary investment approach. Note: Moving to discretionary investment was a big change for STM. This objective is imperative in conveying the uncertainty of this change to students.</li><li>Developing criteria to be included in an investment manager review template.</li><li>Analyzing an organizational investment strategy as it relates to stakeholders’ requirements.</li><li>Applying differing investment philosophies, including Friedman’s view on wealth, Freeman’s stakeholder perspective, and the Chartered Financial Analyst Institute’s guidelines.</li></ul>