NAR Reserves Policy Gains New Flexibility
To enable NAR’s Reserves Investment Subcommittee to manage NAR’s portfolios with greater discretion and responsiveness in today’s challenging financial markets, the NAR board of directors revised its policy.
The new policy provides guidance on best practices in investing reserve assets, details the responsibilities of an investment committee or governing body, includes glossaries on asset classes, and provides tips on how to work with outside investment advisors.
The policy also outlines NAR’s approach to prudent maintenance of asset reserve levels, including its 40 percent core reserve requirement.
For a copy of the policy or to discuss components of it, contact John Pierpoint, NAR’s chief financial officer, at 312-329-8260 or firstname.lastname@example.org. For more on association reserves and investments, see page 12.