Historical Resolution Tracking Feature » 2010-12-10 - ICANN Investment Policy

Important note: The explanatory text provided through this database (including the summary, implementation actions, identification of related resolutions, and additional information) is an interpretation or an explanation that has no official authority and does not represent the purpose behind the Board actions, nor does any explanations or interpretations modify or override the Resolutions themselves. Resolutions can only be modified through further act of the ICANN Board.

2010-12-10 - ICANN Investment Policy

Resolution of the ICANN Board

Topic:

ICANN Investment Policy

Summary:

Acknowledges the results of the study performed by KPMG indicating that ICANN’s Investment Policy is fundamentally sound, and that the Board Finance Committee is overseeing further work to ensure that Reserve Fund assets continue to be appropriately managed.

Category:

Administration and Budget

Meeting Date:

Fri, 10 Dec 2010

Resolution Number:

2010.12.10.07

URL for Resolution:

http://www.icann.org/en/minutes/resolutions-10dec10-en.htm

Status:

Complete

Implementation Actions:

None
- Responsible entity: NA
- Due date: NA
- Completion date: NA

Resolution Text:

1.6. ICANN Investment Policy

Whereas, the Board Finance Committee directed the engagement of KPMG to review ICANN’s Investment Policy.

Whereas, KPMG completed its study, which included a survey of the views of Board members on investment criteria and a review of best practices for similar organizations.

Whereas, KPMG’s study indicated that ICANN’s Investment Policy is fundamentally sound but can be enhanced with minor modifications.

Whereas, the Board Finance Committee has discussed the Investment Policy as well as the Reserve Fund performance.

Whereas the, Board Finance Committee agrees with staff that proposals be requested from qualified investment management firms, including ICANN’s current manager, to manage the reserve fund assets. The RFP process will also provide an opportunity to further assess the Investment Policy.

Resolved (2010.12.10.07), that the Board acknowledges the results of the study performed by KPMG indicating that ICANN’s Investment Policy is fundamentally sound. The Board further acknowledges that the Board Finance Committee is overseeing further work to ensure that Reserve Fund assets continue to be appropriately managed.

Additional Information:

The ICANN Investment Policy is available at http://www.icann.org/en/financials/icann-investment-policy-jul2009.htm.
Information on the Board Finance Committee's work is available at http://www.icann.org/en/committees/finance/.