• Oversee investment and reinvestment of SfN reserves by working closely with a qualified custodian and external investment managers.
• Develop, review, and modify investment policy and recommend changes to Council.
• Provide regular investment updates to Council, Executive Committee, and Finance Committee.

Generate Policy Recommendations

• Develop the investment policy of the Society, specifying investment goals, risk tolerance, limits on asset allocations, and permissible investments.
• Periodically review and recommend modifications to the investment policy, as necessary, to the Council for approval.

Manage Investment Activities

• Select and evaluate the portfolio custodian.
• Select and evaluate the investment managers.
• Through the custodian, communicate clearly and timely, the duties and responsibilities of investment managers.
• Through the custodian, assure compliance of investment managers to the investment policy.
• In conjunction with the Finance Committee update the reserve strategy based on current investment returns, revenue and spending projections, and risk assessment. Periodically review and assess the adequacy of the investment portfolio as it relates to the reserve strategy.

Monitor

• Monitor and evaluate investment results for each manager with respect to performance objectives and take appropriate action to discharge an investment manager for failing to perform as expected.
• Review quarterly the asset allocation aggregate portfolio, including the percentage of the portfolio allocated to active and passive management plus the ratio of fixed income to equality and international to domestic investment.
• Perform annually a review and comparison with the National Association of College and University Business Officers Endowment Study.
• Periodically review the custodial relationship.

Coordinate and Communicate

• Report to the Council and the Finance Committee at each of their meetings on the status of the portfolio.
• Coordinate activities with the other committees in the Finance Cluster, to include the Finance Committee and the Audit Committee. The chair will serve as the committee's representative on the cluster steering committee.

The committee includes a chair, who is a regular member of the Society and who serves a term of three years, at least two individuals who have expertise in financial investments and may be non-members, and at least one additional regular member of the Society. The SfN Treasurer, Treasurer-Elect, and Past Treasurer will serve on the committee as ex officio members. Committee members and chair are recommended by the Committee on Committees and approved by Council.

The committee meets once per year in the fall and has quarterly conference calls in January, April, and July. Additional correspondence is conducted by e-mail and conference call, as needed, throughout the calendar year to address issues that arise between meetings of the full committee.