| Policy 1.1 The University’s
general investment strategy will be to optimise income earned
whilst minimising capital risk but having regard to the University’s
cash flow requirements. For bequests and donations, where
longer time horizons may exist, a higher level of risk may
be taken but subject always to consistency with the purpose
of the bequest or donation.
1.2 For University funding sources other
than bequests and donations, the University will invest in
securities unless another form of investment is specifically
approved by Resources Committee.
Investment in securities will be limited to those with a
Standard and Poors credit rating of at least A, issued by
selected financial institutions, state and commonwealth governments,
semi/local government bodies, state and commonwealth government
owned or affiliated utilities, and the South Australian Government
Financing Authority.
1.3 Funds acquired by donation or bequest
may be invested in equities, with the approval of the Resources
Committee.
1.4 Types of investments will be approved
by the Resources Committee. Approvals will be granted on the
basis of recommendations supported by detailed justification
with regard to security and rate of return.
A University investment advisor may be appointed from time
to time by the Resources Committee.
A schedule of investments will be submitted mid-year and
end-of-year meeting.
1.5 Minimum credit balances will be held
in the University’s main operating bank account with
the objective of covering just sufficiently the cheques drawn
by the University. Surplus cash will be invested short term
following the invitation of rates from the University banker
and at least one other competitor seeking the most favourable
interest rate, or in short term investments with a Standard
and Poors’ credit rating of at least A as recommended
by the University’s investment advisor.
|
