IMF Archives: Finding Aids
Office of the Managing Director Records
OMDIV Investment Office
Date(s): 1948-1992 |
Context
Name of Creator: Investment Office - Staff Retirement Plan
Administrative/Biographical history: The primary function of the Investment Office is to advise the Investment Committee on the management of the investment programs of the Staff Retirement Plan (SRP) and the Retired Staff Benefits Investment Account (RSBIA). The Office is also responsible for implementing all investment management decisions of the Investment Committee. It is the responsibility of the Office to oversee and monitor the investments and performance of both the total SRP portfolio and the portfolios of each individual investment manager.
Other functions of the Office include advising the Investment Committee on investment policies, overall allocation of assets and allocation of new cash flow from contributions to the SRP; advising the Committee on investment structure and manager strategy within the asset class; conducting research on the changing potential for investment opportunities; assessing implications of developments in capital markets and the investment industry on the SRP and RSBIA portfolios; monitoring and evaluating the performance of investments and managers; liaising with investments managers; recommending new managers or terminating existing managers; and, working with invesment managers and custodians in implementing decisions of the Investment Committee.
The Investment Office does not appear in the IMF's "Functions and Organization of the Staff" until 1988. The Investment Committee, however, first met July 14, 1948, with its members appointed by the IMF Pension Committee. At the first meeting the employ of an advisor in the form of an investment firm, bank or counsellor was discussed. The first report by the Investment Committee to the Pension Committee was made September 15, 1948. Meetings appear to have been monthly unless there was a sharp change in investments, then an emergency meeting of the Committee would be held.
Investment Advisors: J. A. Jennings (1986-1989); B. Holland (1989-1995); N. Santiago (1996-1999); and K. Miranda (2000-2007).
Content and structure
Scope and content: Sous-fonds consists of four series: Chronological Files; Investment Committee Minutes and Documents; Report and Performance Analysis Series; and Subject Files.
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