The Investment Committee (Committee) of the Synod is appointed and designated by the Synod Council to be responsible for the investment oversight, supervision and annual review of the Synod’s investment strategies and activities that are consistent with this approved policy statement. Appointed Committee members will serve 3-year terms. It is the responsibility of the Committee to implement specific investment strategies within the guidelines of this policy and to report to the Synod Council the results of their strategies, changes in strategies, and the impact upon the Synod’s financial statements. Any two Committee members are authorized to make and execute investment decisions made by the Committee. The members of the Investment Committee may elect a chair, vice-chair and a recording secretary.
The Investment Committee is to follow the guidelines set out in the New York Prudent Management of Institutional Funds Act (NYPMIFA) law enacted on September 17, 2010 which requires fund managers to act “in good faith and with the care of an ordinary prudent person in a like position would exercise under similar circumstances.”
The Committee has primary responsibility to prepare and submit an investment strategy and report to the Synod Council annually or as needed. The Committee works in collaboration with the Finance Committee and utilizes an outside Investment Manager to facilitate balancing and tracking of investments and meets bi-monthly with the manager to monitor investment returns, trends and to adjust investment objectives as appropriate.