Investment Analysis Group

Portfolio Rules

Article 1: Portfolio Objectives, Benchmark, and Permitted Investments

  • The IAG Portfolio (the “Fund”) will be managed to earn a positive rate of return exceeding the rate of inflation with the risk appropriate for an endowment fund.

  • The performance of the Fund will be benchmarked against the S&P 500 Index. As such, the Fund will have a bias toward holding mid‐ to large‐market capitalization stocks.

  • Permitted securities include US Dollar denominated securities traded on U.S. exchanges including equities and exchange traded funds (ETFs).

  • Restricted securities include, but are not limited to, futures, options, commodities, foreign currencies, “penny stocks” with price per share less than $1, micro‐cap stocks with capitalization under $50 million, securities that are not readily marketable, Master Limited Partnerships or other partnerships that could create taxable income for NYU and any securities explicitly excluded by the NYU Investment Office or the IAG Board of Advisors.

  • Buying on margin is prohibited.

Article 2: Trading Rules and Portfolio Composition

  • No stock holding (other than the Fund’s benchmark ETF) may exceed 15% of the total value of the portfolio. If a position grows to be larger than 15% of the total value of the portfolio, the position must be partially liquidated to comply with this rule.
  • The Fund is not expected to engage in short‐term trading.
  • Trading shall be permitted only during official market hours. There shall be no premarket or afterhours trading.

 

Read more here.