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Management of PSA’s Portfolio
The Treasurer comments on the Association’s investment policy.
With the recent turmoil in the stock market and the economy, the question was raised “How is the Puget Sound Association of Phi Beta Kappa fairing through this crisis?” In a simple answer, relatively well. With notable endowments such as the University of Washington, Harvard University, and others, declining anywhere from 20-40%, it is a legitimate concern when giving to a non-profit organization. As your Board of Trustees, we are extremely concerned about the trust you place in us when we are preparing our investment policy and have taken a very conservative approach to investing our monies. While our portfolio has not escaped the crisis entirely, due to our conservative philosophy, it has declined very little in value and has continued to produce the income and dividends we’ve needed to serve our mission to “celebrate and advocate excellence in the liberal arts and sciences”, through our many awards and programs. We appreciate the trust you place in us and we will continue to advocate for liberal arts and education. |
