Investment Management 32

Audit of the Investment Management Service investment performance measurement system

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.

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

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

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.

(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)

(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.

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.

A state of the art system will allow the Investment Management Service to rapidly and accurately handle complex investment data and analyse the portfolio risk and its performance.

Options for improving the return on investment for UNDCP are being evaluated, essentially involving a fine tuning of cash management and the introduction of new investment tools, within the investment policy guidelines set by United Nations Headquarters.

Foreign direct investment, in particular, with its many variations, offers know how in production processes, management and marketing.

(ii) Port management, including issues relating to human resource development, strategic planning, marketing, sustainable development and investment requirements

External macroeconomic forces trade, debt management, direct investment, capital flows and access to technology must support development objectives.

By realigning the Fund's investment, infrastructure and team configuration, a number of the audit recommendations made to the Investment Management Service in the past few years can be implemented.

Assesses the investment performance measurement process and reporting system at the Investment Management Service and the appropriateness of benchmarking and investment performance reporting in conformity with best industry practices determines the adequacy and effectiveness of the internal controls.

Projects aimed at maximizing the potential of remittances must include women, and they needed access to financial management and investment, credit, training in microenterprise management and other resources.

UNHCR agreed with the Board's recommendation to implement a full segregation of duties on investment and cash management decisions.

Under the circumstances, the Investment Management Service has received a number of audit recommendations in the past few years.

Water demand management policies could also be used for reducing the waste water volumes and required investment in sewerage.

These include trade, debt management, direct investment, capital flows, access to technology, subregional and regional cooperation, and other areas.

To carry out the mission and achieve the Fund's goals and objectives, the Investment Section of the Investment Management Service actively manages portfolios of equity, fixed income, real estate and short term investments, constantly analysing capital markets and investment opportunities.