Commissioners of the Land Office investment plan and policy, 06/13/2013

              Commissioners of the Land Office
Investment Plan and Policy
Last Revised on June 13, 2013
This document establishes the Investment Plan and Policy (“Investment Policy”) of State of Oklahoma Commissioners of the Land Office (“CLO”) for the management of the assets held to provide funds for the beneficiaries of the Permanent School Land Trust (“Trust”). This policy is designed to:
• Describe the roles and responsibilities of parties involved with the Trust.
• Provide guidelines for the prudent investment of the CLO assets.
• Provide a framework for ongoing monitoring of investment performance in the Trust.
I. POLICY STATEMENT
The assets of the Trust shall be invested in a manner consistent with fiduciary standards, as set forth in the Oklahoma Constitution, Article 11, Section 6.
The CLO has arrived at the investment guidelines outlined below through prudent consideration of the returns and risks associated with various investment strategies allowed under Oklahoma law in relation to the current and projected needs of the CLO.
II. INVESTMENT OBJECTIVE
The CLO manages a perpetual trust created to benefit present and future beneficiaries; the Commissioners have a fiduciary duty to all the beneficiaries, both current and future. The investments of the Trust assets must be prudently diversified with a goal to protect and grow the corpus of the Trust for the future beneficiaries, while also generating the maximum income for the present beneficiaries.
For reasons of expertise and diversification, the assets of the Fund are to be managed by staff and other professional investment managers with various investment strategies and styles consistently applied.