Aug 30, 2017 | View All Issues
Motion from council meeting for investment changes to our Georgia Wapple Frazier Endowment
In July we were contacted by Northern Trust, the management company that cares for the funds we hold in the George Wapple Frazier Endowment (currently $1.8 million). They are recommending that we completely change the way we are invested. A motion was passed at the August 27th Council meeting to follow their recommendations. We will be voting (and all are encouraged to be there) on this motion at the September 18th council meeting. This letter is to explain the current investments, proposed changes, and why it is in our benefit to follow the recommendations of Northern Trust.
We pay Northern Trust to watch our investments and keep them at a growth vs. income level that we choose (meaning that we want the most income possible without going over a certain, pre-determined risk level). The amount we pay them for their services varies year by year based on the value of our funds. They estimate that we will pay $13,000 this year (and that is a discounted rate we get because we’ve been with them for so long).
We are invested in a combination of individual stocks (many picked by the youth in 4H when the trust was initially set up) such as McDonalds, Starbucks, Kohls, Disney, Nike, Apple, Twitter along withmutual funds, and bonds. In addition to the fe
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