Page 194 - 2024 Orientation Manual

 Providing to the Board and/or its designee, no less than seven days in
advance of any conference, all documents, exhibits, written materials, etc.
related to the Association’s investments and their performance.

Each manager shall:
 Be covered by liability and fiduciary insurance; and
 Have its employees bonded unless otherwise exempt by law or
governmental regulation.

2. OPERATING ASSETS
The Association’s Operating Assets shall be managed in fixed income securities
and cash equivalents with maturities not to exceed one year so as to meet its
short-term liquidity requirements. The LSBA Director of Administration shall
furnish the Investment/Portfolio Manager with a schedule of anticipated
withdrawals for the Association’s operations.

Investment Objective
The primary financial objective in the management of the Operating Assets is
safety of principal followed by a competitive return as compared to its
benchmark.

Investment performance will be reviewed quarterly. It is not anticipated that
the goals defined below will be satisfied in every quarter of year. It is, however,
expected that performance goals will be met over a rolling three-year period.
Analysis of performance should always be within the context of the prevailing
investment environment and the Manager’s particular investment style.

The investment performance will be evaluated relative to the following index
and standard:

Index

Portfolio 90-Day

Segment U.S. Treasury Bill

Total Fund yes

Fixed Income yes

Cash Equivalents yes

As indicated above, The Total Fund, Fixed Income, and Cash Equivalents will
all be measured against the 90-Day US Treasury Bill return for the selected
period.

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