The Pension Administration Committee (PAC) has adopted a comprehensive Statement of Investment Policy which addressed such issues as investment objectives, risk tolerance, asset allocation, permissible asset classes investment diversification, liquidity requirements, expected rates of return, valuation procedures and other issues relevant to the investment process; thereby establishing a framework with which all the investment managers must operate. The policy is reviewed on a regular basis and updated whenever necessary to ensure that it continues to meet legal standards and the investment requirements of the membership.
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