Investment Policy

 

Funds managed by the Foundation are invested at all times based on the requirements for safety (preservation of capital), liquidity, and yield - in that order. The primary investment objective of the Fund is to generate a total return, on average, at least equal to the annual rate of increase in the Consumer Price Index plus 3.0%, after deduction of investment management expenses.


The assets of all the endowments are pooled and are professionally managed by six investment managers, each responsible for a portion of the portfolio. The current policy of the JCF is to have 50% of the assets in fixed income, and 50% in equities. Quarterly statements are provided by the investment managers, and are distributed to members of the Investment Committee who, in turn, present a full report at the quarterly meetings of the Board of Trustees.


The investment policies of the Foundation are reviewed bi-annually by the Investment Committee to ensure consistency with overall Foundation objectives and prudent and responsible investment practices.


At present, total assets under management are in excess of $42 million.


Investment Policy Statement


The Investment Committee developed a policy statement that was adopted by the Board of Trustees in 2003. The policy statement was reviewed and revised in 2013. This statement outlines the goals and objectives for managing Foundation assets. It informs of our existing policies and procedures, provides guidance for the future, and outlines the planned asset allocation mix to achieve our objectives. This allocation will be reviewed periodically to ensure that our goal is being achieved. Read our current investment policy statement.