Reporting and Accountability Framework
Clients establish the investment policies and management framework for their specific fund(s). This is done through a Statement of Investment Policies and Procedures which, among other things, establishes:
- the fund’s investment objectives and its performance targets;
- eligible investments and diversification of the portfolio;
- an asset allocation framework and the amount of discretion that BCI has in the day-to-day management of the fund; and
- policies relating to specific activities and programs such as responsible investing, security lending, and proxy voting.
Directors of BCI are legislatively prohibited from getting involved in investment decisions. Investment professionals, hired by BCI, make these decisions, in accordance with the policies established by the clients.
The Board oversees BCI’s operations and ensures proper reporting and accountability to our clients. The Board approves pooled fund investment policies, auditors, the business plan, and the annual budget. Other responsibilities include establishing an employee classification system and compensation scale.
Investment professionals under the supervision of the CEO/CIO make all investment decisions within the framework of the policies approved by the Board and established by BCI’s clients.