Investment Management 32

Audit of the Investment Management Service investment performance measurement system

Investment advisory committee

Office of the Director, Investment Management Service

Office of the Director, Investment Management Service

Recommendations 7 (a) and (d) Investment management

Table 25 History of the Investment Management Service

Mr. H. L. Ouma, Chief, Investment Management Service

Figure 18 Cost of management of the Fund's portfolio by the Investment Management Service

Funds drawn from the investment management companies was 26,350,000.

These comprise investment in deposits, bonds and equities managed by the United Nations Investment Management Service.

Upon inquiry, the Committee was assured that the arrangements would also enhance investment management control and the operational efficiency of the Fund.

The UNHCR Treasury makes the decisions on investment and cash management.

(e) On the cost side, the investment cost of management improvements.

The system will allow the Service to prepare, on a regular basis, comprehensive risk and performance analyses for senior management and the Investment Committee.

It also expressed appreciation to the Chairman and members of the Investments Committee, the staff of the Investment Management Service and of Fiduciary Trust Company International, for the good investment performance over the years.

Member of the National Committee for Investment.

The total investment in management reform measures recorded in 2004 was 3,386,366.

As regards the investment decision making process, some members of the Board suggested that there should be more than one investment adviser, and that the management of the investments should be entrusted to external investment managers who would be under the supervision of the Investment Management Service.

Reporting to the Management Committee

The office is also responsible for the issuance of all reports of the Investment Management Service to the governing United Nations committees and the Investments Committee.

19. The Advisory Committee notes that these arrangements are expected to enhance the security of assets, while achieving significant cost reductions in the investment management operations.

(b) To review the procedures and operating methods of the Investment Management Service

(b) Develop, administer and maintain system interface with investment advisers, custodians, bankers and all related financial institutions, and maintain the infrastructure and portfolio management and operational systems of the Investment Management Service

The Secretary General, through the Investment Management Service, continued to search for investment opportunities in developing countries during the year under review.

(c) Enhancement of the Investment Management Service through the addition of five new posts, indexed management costs, including the costs of transition management services, and consultant costs

Implement a full segregation of duties on investment and cash management decisions (para. 89)

(c) Improving the efficiency and flexibility of the Investment Management Service in adopting new investment approaches requires a stronger and more sophisticated infrastructure.

(d) In view of the size and diversification of the investment portfolio, the Investment Management Service should increase the number of investment managers or review the possibility of hiring additional discretionary investment advisers (AS2001 95 1 14)

(b) Committee on Reforestation and Forest Management

(f) Implement a full segregation of duties on investment and cash management decisions (para. 89)

The project will assist the Investment Management Service in mitigating exposure to various risk factors.

Investment cost describes the resources invested in implementing management improvement measures during the reporting year.

(e) The new investment officer will be specialized in alternative asset management, the skills for which significantly differ from those for conventional portfolio management.

Investment in payroll systems could provide significant returns in cost avoidance and in better system management.

The office of the Director is responsible for the overall operations of the Investment Management Service.

The others involve investment programming, information systems for economic planning and management and regional (subnational) planning.

For 2004 there was no minutes of the Investment Committee meetings.

For 2004 there were no minutes of the Investment Committee meetings.

Management has already established a risk management committee that will evaluate the piloting of enterprise risk management in the organization.

The goals to be achieved relate to the acquisition, customization, installation and maintenance of investment management systems

This effort will be complemented by investment in Headquarters and mission data collection and information management systems.

A new management team had been appointed for the General Authority for Investment and Free Zones (GAFI).

Significant investment is being made in projects focused on management reform, and significant benefits are being attained.

For example, an organization considering a major capital investment might create a temporary working committee of several people to review options and make recommendations to upper management or the Board of Directors.