Investment Oversight Committee


This committee falls within the Governance Group of IPA Committees. The overall strategic objective of this Group of Committees is: ˆto ensure the efficient and effective management of the IPA group in accordance with the Rules of the International Psychoanalytical Association, and the Bylaws of IPA Fund Inc'. Context

  1. The criteria for investment of the group's reserves must conform to legal requirements as they apply to the IPA in the UK and IPA Fund Inc in the USA, particularly in relation to risk management. These legal requirements have precedence over any criteria below.
  2. The Board will revise the mandate for this Committee from time to time. The mandate must be consistent with the group's Reserves Policy and Investment Criteria as stated in the Procedural Code.
  3. The reserves policy of the IPA group of companies specifies the range of reserves that may be held by each company. The IOC will review the actual situation against this policy annually and take appropriate action.
  4. The Board will set the risk attitude for the organization and then the IOC will ensure the investment policy reflects this risk appetite.
  5. The IOC will appoint management firms (fund managers) to operate the funds on behalf of the IPA group of companies. The IOC will oversee the performance of the fund managers and the funds. It will set benchmarks by which to judge the performance of the fund managers, with the aim of exceeding those benchmarks where appropriate. The IOC will meet with each fund manager periodically to monitor each manager's services, with a performance review being conducted every two years. The IOC may change fund managers where it feels this is appropriate to meet its mandate. The IOC will have a written agreement with the fund managers detailing their performance, benchmarks, investment policy, risk profile etc.
  6. The IOC will formally review the Investment Managers every 5 years and consider whether to reappoint or appoint a new manager.
  7. The Committee will be chaired by the Treasurer, ex Officio.
  8. The Board delegates power to the Treasurer to sign any Fund management documents necessary to implement its investment and reserves policy.
  9. The members of the Committee (apart from the Treasurer) will be assumed to have submitted their resignations on the change of administration in accordance with the Committees section with the IPA's Procedural Code, or on the change of a Treasurer, as the President shall determine.

Originally approved by Executive Council, New York, December 1998

Revised version approved by the Board, New York, January 2007

Procedures moved from mandate to Procedural Code January 2012

Full NamePosition
Dr. Andrew BrookChair
Mr. Paul CrakeEx-Officio
Mr. Chris WelchEx-Officio