Investment Policy Statement для семейного офиса

Investment Policy Statement для семейного офиса

Что такое IPS?

IPS это written document that defines family's investment goals, risk tolerance, asset allocation strategy, and guidelines for portfolio management.

Key Components

1. Investment Objectives - Primary goal: Income, growth, or preservation? - Time horizon: 5 years, 20+ years? - Risk tolerance: Conservative, moderate, aggressive?

2. Asset Allocation Example for $10M family office: - 50% Equities (stocks, PE) - 30% Real estate - 15% Fixed income (bonds) - 5% Alternatives (crypto, hedge funds)

3. Risk Management - Maximum drawdown tolerance: 15-20%? - Concentration limits: No single investment >20%? - Currency exposure: What acceptable? - Leverage: Allowed or forbidden?

4. Manager Selection Criteria - Who can manage investments? - Manager fees: Maximum acceptable? - Performance benchmarks: What's success? - Manager termination criteria: When to replace?

5. Rebalancing Policy - Frequency: Quarterly, annually? - Trigger: If allocation drifts >5%? - Tax considerations: Loss harvesting?

Implementation for RAKEZ FO

Step 1: Founder + Advisor workshop (4-8 hours)
- Define goals
- Risk assessment
- Asset allocation design

Step 2: Document drafting (1-2 weeks)
- Professional advisor writes IPS
- Include all components
- Cost: $10K-$20K

Step 3: Board approval (1 meeting)
- Present IPS to board
- Discuss any modifications
- Formal approval vote

Step 4: Implementation (ongoing)
- Managers receive IPS
- Quarterly monitoring
- Annual review/update

Typical Annual Review Process

Every year:
- Did portfolio meet performance targets?
- Has family situation changed?
- Need allocation adjustments?
- Manager performance acceptable?
- Update for economic changes

Every 3 years (major review):
- Full IPS reassessment
- Potential allocation changes
- Manager evaluation
- Goal reset if needed