The latest thoughts on investment strategy and the markets, plus tools and templates from Raffa’s portfolio management team to empower nonprofits and associations to make better informed investment decisions.
A strong Investment Policy Statement (IPS) is central to effective board governance and fiduciary responsibility. It sets the guidelines your board governs against and keeps your investment program aligned with objectives. Learn about best practices to consider and components to include when creating or updating your IPS.
U.S. stocks edged down during a choppy July as investors balanced corporate earnings against renewed geopolitical and inflation concerns. Oil briefly climbed above $100 per barrel after hopes for a sustained ceasefire in the Middle East faded, adding to market volatility. Learn more.
Many nonprofits and associations that invest their reserves hold them in one blended portfolio or organize them by time horizon alone. While time horizon is important, organizations may also want to factor in the purpose each reserve is meant to serve. This article explains the role purpose plays in reserve segmentation, and how to turn your segmentation and strategy into a reserve policy your board can adopt and maintain.
Deciding when to move reserves from cash into a managed investment portfolio is a decision made by the board after careful deliberation. Boards should consider several factors, including time horizon, purpose, capacity for risk, and governance responsibilities. Learn more.
Global stocks declined in June on a pullback in AI-related stocks and higher interest rate expectations, but posted the best quarter in six years on strong corporate earnings. Fixed income edged up over the month and second quarter.
When you think about your nonprofit or association’s reserves, do you know how much is intended for long-term stability versus how much is allocated for strategic initiatives? Many nonprofits and associations either hold their reserves in a single pool or group them by time horizon without considering their intended purpose.
SpaceX’s public-market debut has brought IPOs back into the spotlight. With OpenAI, Anthropic, and other high-profile private companies expected to go public later in the year at very high valuations, many investors are asking whether newly public companies represent unique opportunities or whether exposure through diversified portfolios is sufficient.
U.S. stocks posted another month of solid gains in May, supported by continued strength in technology and artificial intelligence related sectors, better than expected corporate earnings, and optimism surrounding further geopolitical de-escalation in the Middle East. Inflation, however,
remained a key concern.
Choosing investment benchmarks, and reviewing performance against them consistently, is central to how a finance committee exercises fiduciary oversight of its reserves. This article covers what a benchmark is, how to identify one that fits your portfolio, examples of commonly used benchmarks, and how to monitor performance over time.
Economic data remained generally resilient, while inflation moved modestly higher in March, with energy prices contributing to renewed price pressures amid disruptions to shipping through the Strait of Hormuz. Learn more about how stocks and bonds performed through April and what we are watching as we move forward.
