By Steve Veldhorst, chief financial officer
On March 1, 2020, the Community Foundation transitioned from using an Investment Advisor to an Outsourced Chief Investment Officer (OCIO), choosing Fund Evaluation Group (FEG) as our partner.
What a time for a transition! During the turbulent COVID-19 pandemic, we are fortunate to have FEG managing our portfolio. FEG was able to take advantage of some opportunities we would not have been able to do using the previous advisory model, when we would have needed approval from our local Investment Committee before making investment decisions. FEG had complete authority to make these decisions quickly based on their research and knowledge of the markets.
Partnering with a seasoned OCIO brings many benefits. An OCIO increases the efficiency and agility of decision-making, simplifies oversight, enhances performance potential, and provides back-office support, to name a few. By taking on the responsibility of day-to-day management of the investment portfolio, FEG allows internal staff to focus on core operations and the Investment Committee of the Community Foundation to focus on setting the strategic direction and alignment with the investment policy instead of the tactical direction of hiring investment managers and choosing investment funds.
The Community Foundation is very pleased with the partnership that has been formed with FEG in a very short time. The diverse resources, communication and capabilities of FEG are serving the Community Foundation well and we look forward to growing our relationship and performance together!
The Community Foundation offers professional advisors many resources for starting the conversation with their clients, spotting giving opportunities and determining what, when and how to give. We welcome the opportunity to tailor a gift or charitable fund to your clients’ interests and goals.