Board modifies Bar investment policy

first_imgActing on advice of the Investment Committee, the Board of Governors has slightly modified the Bar’s investment policy to help hedge in down markets.Investment Committee Chair Ian Comisky told the board, at its recent Naples meeting, that the Bar’s investments are designed to be less volatile than in the overall market. As part of that, some investments are targeted to increase in value when the overall market declines.But during some of the market turbulence last year, Comisky said the Bar found all of its investments declining at the same time. To help prevent that decline, the Bar’s investment advisor recommended changing a commodity fund that made up about 2.5 percent of the Bar’s portfolio.That involved selling the Bar’s stake in the T. Rowe Price New Era commodity fund and splitting the money between two new funds, R.S. Global Natural Resources and Highbridge Dynamic Commodities Strategy Fund.The board approved the committee’s recommendation to make the change.Comisky also reported that the Bar’s long-term investment portfolio was near its all-time high after a 6.45 percent increase in the first quarter of 2012. Board modifies Bar investment policy June 15, 2012 Regular Newscenter_img Board modifies Bar investment policylast_img read more

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