Quarterly Compliance Reporting
IPS can develop a comprehensive report detailing any potential violations of the Fund’s investment guidelines. IPS has dedicated compliance analysts that, on a quarterly basis, monitor separate account manager holdings to ensure compliance with all applicable guidelines. All information is compiled in a detailed report which is provided to the fund administrator and counsel. IPS summarizes the issues and recommended action to be taken by the Trustees in a written report which is presented to the Trustees. If any losses are incurred, IPS works with the Fund to seek reimbursement from the manager.
In addition, we also require managers to complete a detailed compliance checklist each quarter regarding the stability of the firm, investment team, ownership changes, lawsuits, regulatory inquiries/investigations, etc. This information is also included in the compliance reports presented to the client.