About the COHA Foundation
Established in April 2008, the COHA Foundation was created to generate long term sustainable funding to solely support the mission and vision of the Central Okanagan Hospice Association.
The vision of the COHA Foundation is to create a sustainable future for the Central Okanagan Hospice Association (COHA) by providing an atmosphere of responsible stewardship and growth.
The Investment Policy is an attempt to express the investment objectives of the COHA Foundation that will guide the content of the Foundation’s portfolio. The Statement of Objectives and Investment policy provides the framework for managing the investment portfolio, including making decisions, reporting on progress and reviewing the objectives in a timely and regular manner.
The primary objective is to preserve capital, while the secondary objective is capital growth. With these objectives in mind, the portfolio is to be managed to earn a rate of return that matches or exceeds the rate of inflation over the long term through income generation and capital growth. Fixed-income investments in the form of mutual funds, bonds, GIC’s, or coupons will be the main source of both capital growth and income. However, there is an allowable amount of 25% of the portfolio which may be invested into equities.
Due to the primary focus on capital preservation, the portfolio can be characterized as having a low to moderate risk level.
COHA Foundation is a not for profit association.
The portfolio should be sufficiently liquid to accommodate unforeseen cash requirements upon the Board of Director’s request, but there are no regular income requirements from the portfolio.
TOLERANCE FOR FLUCTUATIONS
Due to the nature of the market, the prices of the fixed income investments, mutual funds and equities will fluctuate. This is considered normal over the period of a business cycle.
The goal is to continue to build and grow the portfolio over the long term with no immediate withdrawals foreseen. Reviews of the portfolio are to occur at quarterly Board meetings or as necessary, and upon the Board’s approval the time horizon may be adjusted.
Investments in the portfolio should be liquid. The portfolio should be kept flexible enough to maintain periodic withdrawals from time to time.
All portfolios will be designed in the most tax efficient way as possible without hindering performance.
ASSET MIX GUIDELINES
The portfolio will be invested in fixed income securities, equities and money market securities with the following guidelines:
|EQUITY (Including: Mutual Funds, Income Trusts, Equity Linked Notes and Foreign Securities)||0%||25%||30%|
|FIXED INCOME (Including: Mutual Funds, Bonds, GIC’s, Coupons and Preferred shares)||0%||70%||100%|
|CASH (including: Money Market Funds and T-Bills)||0%||5%||25%|
Board of Directors
Roy Sinden, President
Larry Stranaghan, Vice-President