Fixed Income Investments. 54. Although Investments in fixed income instruments are perceived to be conservative investments and more predictable than equities, they are not without risks. In particular, in purchasing any fixed income instruments, you should be aware of the following:
Fixed Income Investments. The shares of such Sub-Trusts and any shares of any further Sub-Trusts that may from time to time be established and designated by the Trustees shall (unless the Trustees otherwise determine with respect to some further Sub-Trust at the time of establishing and designating the same) have the following relative rights and preferences." The undersigned hereby certifies that the Amendment set forth above has been duly adopted in accordance with the provisions of the Agreement.
Fixed Income Investments. You take on the r i sk that the i ssuer of the fixed income instrument or the counterparty may not honour its obligations to pay principal and/or interest, resulting in losses to you. In this regard, published ratings of any issuer of fixed income instrument should be supplemented by your own credit analysis of the issuer’s credit risk as changes in the ratings of any issuer of fixed income instrument may lag behind changes in financial conditions. You should perform periodic independent analysis to determine the credit risk of the issuer of any fixed income instrument and evaluate the merits and risks of such fixed income instrument. You are exposed to liquidity risk as there may be no market for a fixed income instrument and you may not be able to sell the fixed income instrument at the desired time or price. Even when a market exists, there may be a substantial difference between the offer and purchase price for a fixed income instrument. You are exposed to the risk of interest rate fluctuations as the value of fixed income instruments will fluctuate with changes in interest rates. The degree of interest rate sensitivity depends on the maturity, coupon and call provisions of the fixed income instrument. Floating rate fixed income instruments lessen your interest rate risk to the extent that the interest rate adjustments are responsive to market rate movements. If the issuer of the fixed income instruments has the right to redeem the fixed income instruments before maturity, this can adversely affect your exposure. Additional Risks of Investing in Fixed Income Investments with Special Features 1 High Yield High-yield bonds/debentures are typically rated below investment grade or are unrated and as such are often subject to a higher risk of issuer default. High-yield bonds/ debentures typically fall more in value than investment grade bonds/debentures during economic downturns as: (a) investors become more risk averse; and (b) default risk rises.
Fixed Income Investments. The purpose of the aggregate fixed income allocation within the Trust is to provide a total return consisting of income and appreciation, while preserving capital by investing in a diversified portfolio of high quality fixed income securities. The investment objective of the fixed income portfolio is to achieve a total return commensurate with the overall bond market as measured by the Xxxxxx 1-5 year bond index, with attention given to rolling 1, 3 and 5 year time frames as well as shorter periods should the situation warrant. In addition, the Trustee shall measure and compare the exposure to risk of the Trust’s fixed income portfolio with benchmarks appropriate for the investment style and capitalization range of each such investment. Permitted securities shall include: □ Obligations of the U.S. Government and its agencies; □ Bonds issued by U.S. Corporations or U.S. subsidiaries of foreign companies that are incorporated within the U.S. and carry a minimum BBB rating; □ Certificates of Deposit issued by banks or savings and loans of sound financial condition under FDIC management, with never more than $100,000 (including interest) in any single institution; □ Money market funds and money market instruments of an investment grade commonly held in money market funds such as repurchase agreements, banker’s acceptances, commercial paper, etc. □ SEC-registered open-end mutual funds and Bank, Insurance Company and Trust Company commingled funds which invest primarily in bonds and other instruments which are allowable securities under these policies and objectives; □ Closed-end SEC registered mutual funds which invest primarily in bonds and other instruments which are allowable securities under these policies and objectives; □ Exchange Traded Funds (“ETFs”) which invest primarily in bonds and other instruments which are allowable securities under these policies and objectives; □ “Yankee Bonds”, i.e. foreign government bonds or corporate bonds of foreign companies, issued in U.S. dollar denominations, and offered through registration and filing with the SEC and carry a minimum BBB rating; □ Securities backed by pools of consumer or corporate receivables other than mortgages (“Asset-backed Securities”), provided that these securities have been registered with the SEC for public offering and that they meet the requirements of these policies and objectives and carry a minimum BBB rating; and □ U.S. Agency mortgage-backed pass-through securities. In managing the fi...
Fixed Income Investments. Provide income through a diversified fixed income portfolio that may include inflation-protected securities, global fixed income and emerging market debt 13% 30% Xxxxxxx'x Capital Aggregate Bond Index and/OR Barclays US Aggregate Index CASH: Cash may make up to 5% of this allocation with a range of 0-10% 0 5% 10% iMoneyNet taxable Investment Objectives Min Target Max Benchmark Fixed Income/Real Estate & Personal Loans 5% 17% 33%, NAREIT Index Investment Objectives Min Target Max Benchmark Alternative assets including REITs Provide long-term capital appreciation through a diversified actively managed portfolio of alternative & global Real Estate Investment Trusts 0 5% 10% FTSE EPRA / NAREIT Global Index Investment Objectives Min Target Max Benchmark US Equity (Large Cap): Provide long-term capital appreciation through a diversified, actively managed portfolio of large cap stocks or funds, which may include stocks of foreign 25% 30% 35% S&P 500 Index, Xxxxxxx 1000 Index Investment Objectives Min Target Max Benchmark US Equity (Small-Mid Cap): Provide long-term capital appreciation through a diversified, actively managed portfolio of small-mid cap stocks or funds, which may include stocks of foreign companies that are traded in the U.S. 5% 10% 15% Xxxxxxx 2000 Index Investment Objectives Min Target Max Benchmark International Developed Markets: Provide long-term capital appreciation through a diversified, actively managed portfolio of international equities or funds from developed market countries. 10% 15% 20% MSCI EAFE Investment Objectives Min Target Max Benchmark International Emerging Market: Provide long-term capital appreciation through a diversified actively managed portfolio of international equities or funds from emerging market countries. 0 5% 10% MSCI Emerging Markets Index EXHIBIT B Investment Fund Committee Fund ‘D’ hereafter known as the ESG Fund (Environmental, Social and Governance) ASSET ALLOCATION AND INVESTMENT OBJECTIVES For informational purposes only, the following definitions are what guide the investment selection rather than a list of companies that may or may not be held at any one time in history: Environmental: How a company performs as a xxxxxxx of the natural environment. Examples include a company’s carbon footprint (climate change), energy sources (natural resources), and pollution standards.
Fixed Income Investments. TOTAL CLASS 1 & 2 RATED (Total Class 1 + Total Class 2 Rated INVESTMENTS TO TOTAL Investments)/Total Investments INVESTMENTS TOTAL ASSETS Total Assets
