INVESTMENT INSIGHT
过渡到OCIO:加强基金会的使命一致性

Transitioning to OCIO

提高基金会的投资效率和使命一致性

A community foundation embarked on a transformative journey to elevate its investment effectiveness and mission alignment. The following case study highlights a foundation’s transition from a longstanding consulting relationship with Angeles to a fully discretionary, 外包首席投资官(OCIO)模式, the reasons behind the transition, and the Board’s decision-making process. This strategic leap not only streamlined investment processes but also enhanced the partnership and deepened mission impact.

The Catalyst for Change

A shift occurred when The Community Foundation’s longstanding Executive Director announced his intention to retire. 因为他是团队中最有经验和经验的投资专家, 其余的董事会成员认为，现在是重新评价投资结构的合理时机. 认识到现有模式的局限性, 尤其是在领导层换届之后, 基金会寻求一种解决方案:

• Streamline operations: Alleviate staff administrative burdens and free up internal resources for core grantmaking activities and operations.
• Improve governance: Transition portfolio discretion (e.g., hiring and firing managers) from the Board to the OCIO to allow the Board to focus on the foundation's strategic direction.
• Deepen mission alignment: Craft a portfolio that directly reflects the foundation's four key grantmaking priorities: Racial Equity, Healthy Ecosystems and Environments, Thriving Youth and Families, 公正的经济和经济发展.
• Navigate private markets: Gain seamless access to impactful private market opportunities to improve the foundation's ability to meet its long-term return objective.
• Foster a closer partnership: 发展一种超越常规投资管理的合作关系, incorporating ongoing education, donor communication, governance support, 作为基金会团队的真正延伸.

向首席信息官的过渡产生积极影响

The OCIO model forged a new partnership, transcending the typical investment consultant relationship. 基金会旅程的结果是:

• Deepened partnership: Angeles engaged with the foundation’s leadership to gain a better understanding of its mission, vision, and goals. 安吉利斯成为了基金会团队的真正延伸, 促进合作和知识共享.
• Streamlined operations: 安吉利斯接管了行政负担, including cash management, rebalancing, and private market documentation, 腾出内部资源用于战略行动.
• Increased mission alignment: Portfolio alignment increased from 53% to 100% of the investment portfolio over a three-month period (the point at which the foundation selected Angeles as OCIO for portfolio implementation).
  
  

The new portfolio was aligned to the foundation’s four specific grantmaking priority areas with custom mission-related reporting (sample below):

• Enhanced private market access: 精简参与影响驱动的私人投资.
• Attractive Fees: Throughout the process, Angeles focused on fees, 在切换到OCIO模式时，提高了OCIO支付的总费用, 这导致整个投资组合的加权经理人费用总体较低.

Conclusion

The foundation's story serves as a powerful testament to the transformative potential of the OCIO model for non-profits. By choosing Angeles as its partner, the foundation gained investment expertise and a dedicated ally and resource to support the pursuit of its mission. Its journey demonstrates that an OCIO relationship can be more than just outsourcing; it can be a catalyst for enhanced effectiveness, deeper mission alignment, and, ultimately, a greater impact on the community.

Angeles Investment Advisors, LLC ("Angeles") is an investment adviser registered with the U.S. Securities and Exchange Commission. 注册并不意味着一定水平的技能或培训. More information about Angeles’ investment advisory services can be found in its Form ADV Part 2 and/or Form CRS, which is available upon request.

本案例研究中提到的社区基金会是Angeles的当前客户. 他们没有因为任何yabo亚博网站登录首页yabo亚博网站登录首页的推荐而得到补偿. Their individual experiences with Angeles may not be representative of any other person’s experience with the firm.