Committee Purpose

The Committee met for the first time in 2002.  Its duties are to:

Authorise and agree with the approved investment managers:

  • the terms on which they serve as the RSE’s investment managers;
  • the general composition (by categories) of the target portfolio which the investment managers would operate with any necessary indications of permissible ‘bands’ around the agreed proportions;
  • the degree of discretion to be enjoyed by the investment managers (including any investment areas barred by the Society, as for example the tobacco industry); and
  • reporting, monitoring and reviewing meeting arrangements.

Consider the investment managers’ quarterly reports and meet them at six-month intervals, at which performance is to be reviewed and any proposed adjustments to the target portfolio considered and settled.

Review, at appropriate intervals (of not longer than six years) in depth the performance of the investment managers against relevant market and peer group benchmarks; to consider whether to arrange a further ‘beauty parade’ of possible advisors; and to recommend to Council for approval the renewal or alteration of the investment manager appointment.

Operational process

The committee meets six-monthly with the Investment managers, usually in June and October, and as required in the intervening period to discharge duties as above.

Committee Membership

MEMBERS

Harry Morgan
Lesley Knox
Brian Duffin
General Secretary
Vice President; Business