Portfolio management

Figure 18 Cost of management of the Fund's portfolio by the Investment Management Service

(b) In order to establish accountability, the Investment Management Service should either (i) ensure that the fixed income investment officer acts with greater independence in the management of the portfolio or (ii) consider outsourcing the fixed income portfolio while maintaining the investment officer to monitor the performance of the outsourced portfolio (AS2003 801 02 011)

It has created 200 jobs, 20 per cent of them for women.

(b) Develop, administer and maintain system interface with investment advisers, custodians, bankers and all related financial institutions, and maintain the infrastructure and portfolio management and operational systems of the Investment Management Service

(e) The new investment officer will be specialized in alternative asset management, the skills for which significantly differ from those for conventional portfolio management.

3. The Investment Management Service has two in house systems (a) a Portfolio Management System, which was installed in 1993 and (b) the Investment Control and Accounting System, which provides automated accounting for the transaction activities of the investments of the Pension Fund.

To carry out the mission and achieve the Fund's goals and objectives, the Investment Section of the Investment Management Service actively manages portfolios of equity, fixed income, real estate and short term investments, constantly analysing capital markets and investment opportunities.

(d) In view of the size and diversification of the investment portfolio, the Investment Management Service should increase the number of investment managers or review the possibility of hiring additional discretionary investment advisers (AS2001 95 1 14)

If a securities firm is engaged in securities assets management business, it should sign securities assets management contract with customers, defining investment scope, investment ratio, management period, management cost and so on.

Geneva Office

Investment Section

Considering the relatively small portion of the Fund's assets invested in such equities, one can easily understand that outsourcing this type of investment is a reasonable option

Since the Fund invests in small capitalization equities in the United States, Europe and Japan, in house management would require a significant number of portfolio managers and analysts dedicated to research.

A state of the art system will allow the Investment Management Service to rapidly and accurately handle complex investment data and analyse the portfolio risk and its performance.

Investment Management Service 0.33

(2)The official written documents on risk management or investment strategies of the enterprise concerned have recorded that the combination of said financial assets, the combination of said financial liabilities, or the combination of said financial assets and financial liabilities will be managed and evaluated on the basis of their fair values and be reported to the key management personnel.

A provision of 10,191,900 is made for contractual services for portfolio management.

The main thrust of the report was to recommend a new hybrid structure for the Service, in which a combination of internal management and permanent temporary external outsourcing of the management of the Fund's investments would be used.

A. Management of the investments . 48 78 14

1. Investment management . 23 31 105

Audit of the Investment Management Service investment performance measurement system

The guiding principles and policies governing United Nations are applicable to all United Nations offices holding responsibility for investments.

The office is also responsible for the issuance of all reports of the Investment Management Service to the governing United Nations committees and the Investments Committee.

Overexpenditure of small capitalization fees

Table 25 History of the Investment Management Service

In broad terms, this entailed a reorganization of the Service and additional outsourcing.

Manage your finances, accounts, and investments

Total administrative, investment and audit costs

The environment investing in better resource management

An accounting firm, with expertise in portfolio management and investment accounting systems, would review and evaluate both systems, especially with respect to internal control procedures. DOCUMENT A 50 7 Add.2

By realigning the Fund's investment, infrastructure and team configuration, a number of the audit recommendations made to the Investment Management Service in the past few years can be implemented.

The working group welcomed the initiatives taken by the Investment Management Service with a view to controlling risks, and diversifying and modernizing its operations.

Charge d apos Études assistant, Responsable de la Coopération avec le Japon, Ministère des Investissements publics et de l apos aménagement du territoire

In carrying out its mandate, the Service aims to achieve the goals and objectives of the Fund's investments, which are to

With regard to investment promotion, Egypt has adopted UNCTAD's recommendation that GAFI be transformed from a control authority into an investment promoter and facilitator.

Examples include the Centrally Managed Software System, the Office of Human Resources Management databases that are complementary to IMIS and the Treasury Investment System.

39. Of the three forms of private capital flow (loans, FDI and portfolio equity), FDI and portfolio equity investments are more relevant in the present context of African economies.

Trade and Investment Effects of EMS Standards

(a) The increasing complexity of the market and operational environment has made it imperative for investment management organizations to build a strong compliance monitoring capability

(a) The Investment Management Service should review the possibility of further diversifying its investment portfolio (asset classes) using alternative investments, within its tenets of safety, profitability, liquidity and convertibility, and inform the Pension Board of the results of the review for its consideration (AS2003 801 02 003)

Notwithstanding the growth in the Fund s assets and a complex investment environment, there had been significant improvements in the efficiency and cost effectiveness of investment management.

Under investment cost, the Secretary Chief Executive Officer explained that the additional resources requested were directly linked to the recommendations made in the report of Deloitte and Touche on the investment process, operations and organization of the Investment Management Service.

The assets custodian organs shall perform duties of safeguarding the customer s trust assets, handling the collection and payment of the funds and supervising the investment activities of the securities firm according to the provisions of the securities regulatory agency under the State Council and the securities assets management contract.

Rational management of natural resources.