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(1) QUT is a statutory body and invests in accordance with the Queensland University of Technology Act 1998, Statutory Bodies Financial Arrangements (SBFA) Act 1982 and Financial Accountability Act 2009, and associated regulations and standards. (2) Investments are undertaken with the expectation of achieving a financial return through interest or capital growth in order to support the strategic goals of the University and to provide future financial sustainability. (3) QUT has Category 3 investment power under the Statutory Bodies Financial Arrangements Act 1982. (4) This Policy applies to all investments undertaken by QUT and the committees and staff who manage the University’s investment portfolio. (5) The overall objective is to ensure sufficient funds are available to support the purpose and strategic plan of the University, and to meet the day-to-day operational cash requirements as and when needed. (6) QUT’s investment activities aim to: (7) The investment principles include the following: (8) QUT prohibits the following types of investments: (9) QUT may receive direct investments such as shares or property through donations, bequests or as a result of research and commercialisation activities. The University's intention is to divest itself of such investments as soon as practicable, though in limited circumstances direct investments may be held for strategic purposes. (10) QUT has three types of investment categories, each with a specific objective and risk profile, to effectively manage the portfolio: (11) The Vice-President (Finance) and Chief Financial Officer provides reporting to the Finance and Planning Committee and QUT Council regarding performance of the investment portfolio including but not limited by: (12) Any breach of the Investments Policy must be reported to the Associate Director, Financial Control immediately. Action must be taken to resolve the breach within 24 hours of the breach being detected. The Vice-President (Finance) and Chief Financial Officer reports the breach and actions taken to address the breach at the next available Risk and Audit Committee meeting. (13) Refer to Register of Authorities and Delegations (VC142, C003, VC145, VC146) (QUT staff access only).Investments Policy
Section 1 - Purpose
Section 2 - Application
Section 3 - Roles and Responsibilities
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Vice-President (Finance) and Chief Financial Officer
Prepares reports on investment performance and financing, and on compliance with relevant legislation and University policy.
Associate Director, Financial Control
Associate Director, Financial Control or Treasury manager
Section 4 - Investment Objectives
Top of PageSection 5 - Investment Principles
Prohibited Investments
Direct Investments
Section 6 - Categories of Investments
Top of PageSection 7 - Short Term Investments
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Section 8 - Long Term Investments
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Section 9 - Endowment Fund
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The distributions from the Endowment Fund are also supported by additional funding from the operating budget, until such time that the Endowment Fund is capable of funding the entire scholarship and grant spending of QUT.
Section 10 - Reporting
Top of PageSection 11 - Breach of Policy
Section 12 - Definitions
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Term
Definitions
Investments
Fund Manager
Refers to the primary provider of outsourced investment services, including portfolio management and implementation.
Growth Assets
Are defined as equities, property, infrastructure, non-investment grade credit, and other alternatives.
Illiquid Investment
Are defined as investments that are not publicly traded in sufficient volume to facilitate, under most market conditions, prompt sale without severe market price effect and cannot be liquidated to cash within a six month time horizon.
Expected Tail Loss
Are defined as arrangements that are undertaken or acquired with the expectation of achieving a financial return through interest, profit or capital growth.
Investment Manager
Refers to underlying investment management organisations selected by the Fund Manager to implement specific asset class allocations or investment mandates.
Section 13 - Delegations