Legg Mason: navigate investment planning with ease.Managing your association's reserves has become increasingly difficult in today's challenging economic environment. That's why Legg Mason Founded in 1899, Legg Mason, Inc. (NYSE: LM) is a leading Global Asset Management Firm that serves the institutional, mutual fund and wealth management markets. The firm is headquartered in Baltimore, Maryland, and is located on Lombard and Charles Streets in the Legg Mason Wood Walker, Inc. (Legg Mason), in consultation with ASAE ASAE American Society of Association Executives ASAE American Society of Agricultural Engineers (Society for Engineering in Agricultural, Food, and Biological Systems) ASAE Alkali-Sulfite-Anthraquinone-Ethanol , has created the Association Investment Program (AIP AIP acute intermittent porphyria. AIP Acute intermittent porphyria ), a unique consulting process designed to help manage association reserves, foundations, scholarship funds, deferred compensation, and endowments. Legg Mason addresses the unique investment needs of associations through a disciplined, three-step approach and by focusing on long-term relationships, advocating a consultative rather than a transaction-oriented approach. "AIP consultants work closely with association executives to assist in managing the investment process," says James K. Meek meek adj. meek·er, meek·est 1. Showing patience and humility; gentle. 2. Easily imposed on; submissive. , vice president and consultant with Legg Mason's ASAE AIP. "We are experienced at working with staff, committees, and boards in the investment decision-making process." Writing the policy Developing an investment policy is the first step of the AIP investment consulting process--and it's provided free of charge. A sound investment policy promotes continuity of a sound investment strategy and demonstrates that you, as a fiduciary, have made an effort to choose suitable investment vehicles. A well-documented, written investment policy also can assist you in meeting your fiduciary obligations. Your association simply completes a questionnaire; the results are used as the basis for Legg Mason's draft investment policy. Legg Mason will * assist in constructing investment pools based on your investment time horizon; * work with you to decide the asset classes appropriate for your portfolio; and * help you determine the appropriate risk and return level for your association. Implementing the policy After a written policy is in place, your Legg Mason AIP consultant prepares a proposal recommending a cost-effective approach to implementing your association's investment policy. Depending on your association's objectives and time horizon, the consultant may recommend one of several alternatives available to your organization. These alternatives include, but are not limited to * Individual managed portfolios. Your AIP consultant will conduct a search for independent registered investment advisers to manage your portfolio. * Mutual funds. Selecting from more than 7,800 no-load or load-waived mutual funds, Legg Mason identifies appropriate funds to implement your written investment policy. Evaluating performance To keep you apprised of investment results, your AIP consultant will provide performance evaluations Performance evaluation The assessment of a manager's results, which involves, first, determining whether the money manager added value by outperforming the established benchmark (performance measurement) and, second, determining how the money manager achieved the calculated return of your association's individual managers or mutual funds. Periodic evaluations help you stay abreast of issues such as * how well your portfolio is performing compared to relative benchmarks and your financial objectives; * the risk level of your portfolio; * whether investment guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. are being followed (guidelines may pertain to pertain to verb relate to, concern, refer to, regard, be part of, belong to, apply to, bear on, befit, be relevant to, be appropriate to, appertain to proxy voting Proxy voting is the delegation to another member of a voting body of that member's power to vote in his absence. It is essentially synonymous to delegated voting. Proxy voting is commonly used in corporations for voting by members or shareholders, because it allows members , liquidity needs, trading and executive guidelines, or socially responsible investing Socially responsible investing describes an investment strategy which combines the intentions to maximize both financial return and social good. In general, socially responsible investors favor corporate practices which are environmentally responsible, support workplace diversity, ); and * ensuring consistency with the current objectives of your organization. (Legg Mason consultants will evaluate your investments and provide consultation services on an ongoing basis to ensure your investments are consistent with your current mission and financial status.) Disclaimer ASAE and a subsidiary of ASAE have entered into an arrangement with Legg Mason Wood Walker, Inc. (Legg Mason), under which Legg Mason will offer investment products and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to ASAE members. Neither ASAE nor any of its subsidiaries is registered as a broker-dealer or investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and , and neither of these entities may engage in the offer or sale of investment products or services. Accordingly, investment products and services under the ASAE Association Investment Program will be offered and sold solely by Legg Mason, and participants in the program will be clients of Legg Mason and not ASAE. CONTACT Rob Kirkconnell Legg Mason Phone: 410-454-3693 |
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