GIPS补充资料:投资政策声明(打印版).docx
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1、Exhibit5SampleInvestmentPolicyStatementInvestmentPolicyStatementPreparedforDavidandAmeliaKingBackgroundandInvestmeritObjectivesThiSInvestmentPolicyStatement(IPS)isdesignedtoassistDavidandAmeliainmeetingtheirfinancialobjectives.Itcontainsasummationoftheirobjectivesandexpectations,setsforthaninvestmen
2、tstructureforattainingtheseobjectives,andoutlinesongoingresponsibilities.ThepurposeofthisportfolioistosupportthecontinuationofDavidandAmeliascurrentlifestyle,providefortheirfamilysneeds,andfundtheirphilanthropicobjectives.Maintenanceoftheircurrentlifestyleistheirprimaryobjective,followedbysupportfor
3、familymembersandcharitableaspirations,inthatorder.Ibmeettheseobjectives,theyanticipateneedingapproximately$350,000peryearininflation-adjustedportfoliodistributions.Inaddition,theyintendtopurchaseasecondresidencewithinthenexttwoyears.TheyexpectthepurchasepriceforthesecondresidencetobeapproximatelyS1.
4、5million.DavidandAmeliahavenotarticulatedaspecificdollaramountthattheyintendtoleavetotheirchildren,noraspecificdollaramountthattheywishtoleavetocharityattheirdeath.Thewealthmanagerwillcontinuetoworkwiththemtoquantifytheseobjectives.Inestablishingtheirassetallocation,DavidandAmeliahaveconsideredtheir
5、currentassetsandexpectedcashneeds,11eyareseekingtoachieveahigherlongtermrateofreturnandarewillingtoa&sumetheassociatedportfoliovolatility.PortfOlioAccountsTaxablejointaccountforDavidandAmeliaTax-deferredaccountforDavidTax-deferredaccountforAmeliaCurrentCombinedMarketValue$12,250,000InvestmentParamet
6、ersRiskToleranceThwealthmanagerhasdeterminedthatDavidandAmeliaareableandwillingtowithstandshort-andintermediate-termportfoliovolatility.Theyrecognizeandacknowledgetheanticipatedlevelofportfoliovolatilityassociatedwiththeirassetallocation(asillustratedintheModeledPortfolioBehaviorsectionoftheAppendix
7、).InvestmeritTimeHorizonDavidandAmeliahaveaninvestmenttimehorizonthatexceeds15years.AssetClassPreferencesTheKingsandtheirwealthmanagerhaveselectedthefollowingassetclasses:Short-termdebtinvestmentsIntermediate-termbondsUSstocks(continued)Exhibit5(Continued)Non-USstocksGlobalrealestatesecuritiesOtherI
8、nvestmentPteferenCeSTheKingswishtomaintaintheirpositionsinAcmeManufacturing,Inc.,whichAmeliareceivedthroughinheritance,andArtfulPublishing,Ltd.,whichisherformeremployer.Neitherpositionrepresentssignificantconcentrationriskinthecontextoftheirbroaderportfolio.Davidhasaninterestinaprivaterealestatelimi
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