Hi Garfield.

OK, to clarify, the new Investment Policy states that in the long term fund, investments in securities may include "Stocks issued by domestic corporations and/or foreign corporations are eligible for investment, including instruments enumerated below". The list of instruments includes (lightly reformattted): "Convertible notes and bonds; Preferred stocks; American Depository Receipts of non-US companies (ADRs); and Global Depository Receipts of US and non-US companies (GDR)". I'm unclear on whether individual common stocks and funds consisting of those stocks (some ETFs, mutual funds, etc) are allowed to be held in the long term fund. Can you clarify that point?

Thanks,

Pine


On Mon, Aug 10, 2015 at 5:09 PM, Garfield Byrd <gbyrd@wikimedia.org> wrote:
Hi Pine,

This our current Investment Policy. It was approved on April 25, 2014.

Our current policy is that all gifts of stock and bonds are sold and then held as cash or reinvested in the Short Term fund as appropriate.  We do not hold gifts of stocks or bonds.

Regards,

Garfield



On Mon, Aug 10, 2015 at 1:57 PM, Pine W <wiki.pine@gmail.com> wrote:
Garfield,

Thanks for providing this.

Brief question: I thought that the WMF investment policy was that it would hold CDs and treasuries only. Did that change? I'm particularly interested in the stock reserves, because I thought that WMF previously said that always rapidly it divests itself of stocks and corporate bonds that it receives as donations and converts them to CDs and treasuries. Did that statement apply only to individual stocks and not to indices, ETFs, mutual funds, etc?

My very brief review of the Investment Report is pretty reassuring in the sense that the IR shows WMF holding a generally conservative mix of funds that seems to be primarily aimed at preserving capital.

Thanks,

Pine

Pine


On Mon, Aug 10, 2015 at 10:03 AM, Garfield Byrd <gbyrd@wikimedia.org> wrote:
The Investment Report for the Wikimedia Foundation, as of June 30, 2015 is posted.  Please contact me with any questions.

Regards,

Garfield

--
Garfield Byrd
Chief of Finance and Administration
Wikimedia Foundation
415.839.6885 ext 6787
415.882.0495 (fax)
www.wikimediafoundation.org

Imagine a world in which every single human being can freely share in
the sum of all knowledge. Help us make it a reality!

https://donate.wikimedia.org

_______________________________________________
Treasurers mailing list
Treasurers@lists.wikimedia.org
https://lists.wikimedia.org/mailman/listinfo/treasurers



_______________________________________________
Treasurers mailing list
Treasurers@lists.wikimedia.org
https://lists.wikimedia.org/mailman/listinfo/treasurers




--
Garfield Byrd
Chief of Finance and Administration
Wikimedia Foundation
415.839.6885 ext 6787
415.882.0495 (fax)
www.wikimediafoundation.org

Imagine a world in which every single human being can freely share in
the sum of all knowledge. Help us make it a reality!

https://donate.wikimedia.org

_______________________________________________
Treasurers mailing list
Treasurers@lists.wikimedia.org
https://lists.wikimedia.org/mailman/listinfo/treasurers