Trustworthy Stewardship is so important at Pi Beta Phi Foundation; it is one of our core values. We are committed to providing comprehensive disclosure of our financial activities.
Investment and Audit Committee
The Investment and Audit Committee is comprised of Trustees, volunteers and key staff who have investment expertise. The committee reviews portfolio performance quarterly via conference calls with the investment and fund managers, who also present an annual portfolio performance review to the full Board of Trustees. This provides both ongoing and annual review of strategy and performance to ensure portfolio objectives are being met.
The Foundation retains an investment manager with Wells Fargo Advisors in Appleton, Wisconsin, whose role is to plan asset allocation strategy and provide ongoing oversight of portfolio performance, as well as manage various fund managers with whom the Foundation has monies invested. Based on portfolio performance, fund managers may be changed from time to time. The Foundation’s primary fund manager is Williams, Jones & Associates, LLC in New York, New York. The investment manager and fund managers are responsible for meeting investment objectives established by the Foundation’s Board of Trustees.
Pi Beta Phi Foundation has a written investment policy that is reviewed by the Board of Trustees annually. The policy addresses investment strategies and distribution of funds. The investment objective of Pi Beta Phi Foundation is to achieve the best possible rate of return commensurate with prudent investment management and preservation of capital and income, in order to allow assets to grow at a sufficient rate to outpace inflation and to keep pace with the returns of a representative balanced portfolio.
Invested funds of the Foundation are divided into two basic categories: Operating and Endowed. The Operating accounts are invested with a strategy designed to optimize long-term growth, as well as provide for current income needs. The Endowed accounts are invested with a strategy designed to optimize current yielded income. Taken together, the accounts represent a comprehensive approach to investment that balances the need to preserve corpus with the weighted risks associated with pursuing growth.