18. The SWF’s investment policy should be clear and consistent with its defined objectives, risk tolerance, and investment strategy, as set by the owner or the governing body(ies), and be based on sound portfolio management principles.
18.1. The investment policy should guide the SWF’s financial risk exposures and the possible use of leverage.
18.2. The investment policy should address the extent to which internal and/or external investment managers are used, the range of their activities and authority, and the process by which they are selected and their performance monitored.
18.3. A description of the investment policy of the SWF should be publicly disclosed.
The investment policy approved by the board provides details on objectives, risk tolerance and investment strategy.
The investment policy provides guidance on the risk management of the fund. It is complemented by a Board-approved Risk Management Policy.
The investment policy sets out the responsibilities and authority of the investment managers as well as their performance monitoring. The criteria and procedures for the recruitment of internal investment managers are set out in HR Policy. Regarding the hiring of external fund managers, AGDF investment policy sets out guidelines on their selection, responsibilities and monitoring. The powers to approve external fund managers are entrusted with the board with the help of management.
The AGDF site has an Investment Policy statement on its website.