Subject: RE: Proposed Investment Policies
From: "Rick Leach" <[email-masked]>
To: "Randy Russell" <[email-masked]>, "Samuel Berger" <[email-masked]>, <[email-masked]>, "Bonnie Raquet" <[email-masked]>, "Anne Marie Person" <[email-masked]>, "Rachel Reeve" <[email-masked]>, "Laura Huber" <[email-masked]>
Cc: "Shannon Hiskey" <[email-masked]>, "Tim Hawkins" <[email-masked]>
Date: Thu, 15 Mar 2012 17:00:42 -0400

Randy - thanks for your comments on the Bertini Fund.  As we've discussed, there are various competing interests involved with our management of the Fund.  This is a topic worthy of a broader discussion and I will add it to the agenda for our next Executive Committee meeting.  Thanks again.

From: Randy Russell [mailto:[email-masked]]
Sent: Thursday, March 15, 2012 3:31 PM
To: Rick Leach; Samuel Berger; [email-masked]; Bonnie Raquet; Anne Marie Person; Rachel Reeve; Laura Huber
Cc: Shannon Hiskey; Tim Hawkins
Subject: RE: Proposed Investment Policies

Rick-I looked over the policy statement and it looks fine to me. I think a broader question we may need to ask is: should we continue to manage this account at all??? These funds are used for very admirable and important projects-but ones that are not necessarily consistent with WFP/USA's mission. And WFP/USA staff time is used to deal with this-taking time away from working on issues/projects/initiatives that better align with our mission. Just something we ought to at least consider going forward.  Thanks. Randy

From: Rick Leach [mailto:[email-masked]]
Sent: Thursday, March 15, 2012 3:11 PM
To: Samuel Berger; [email-masked]'; Bonnie Raquet; Randy Russell; 'Anne Marie Person'; Rachel Reeve; Laura Huber
Cc: Shannon Hiskey; Tim Hawkins
Subject: RE: Proposed Investment Policies

The Bertini Fund was established with former WFP Executive Director Catherine Bertini with the award she received from the World Food Prize ($500,000).  It provides small grants to NGOs in developing countries that promote girls education.

Please let me know if you want additional information on the Fund.  Thanks again.
All the best,
Rick

From: Samuel Berger [mailto:[email-masked]]<mailto:[mailto:[email-masked]]>
Sent: Thursday, March 15, 2012 2:42 PM
To: Rick Leach; [email-masked]'; Bonnie Raquet; Randy Russell ([email-masked]<mailto:[email-masked]>); 'Anne Marie Person'; 'Rachel Reeve'; Laura Huber
Cc: Shannon Hiskey; Tim Hawkins
Subject: RE: Proposed Investment Policies

Recognizing that this is not an area of my expertise, these policies appear appropriate.

What is the Catherine Bertini Fund?

________________________________
From: Rick Leach [mailto:[email-masked]]
Sent: Thursday, March 15, 2012 12:33 PM
To: [email-masked]'; Bonnie Raquet; Randy Russell ([email-masked]<mailto:[email-masked]>); Samuel Berger; 'Anne Marie Person'; 'Rachel Reeve'; Laura Huber
Cc: Shannon Hiskey; Tim Hawkins
Subject: Proposed Investment Policies

Dear Members of the Executive Committee,
In follow-up to our discussion earlier this week, please find attached for your review/approval the proposed investment policies for our reserve and the Bertini Fund.  Thanks again for your guidance and commitment of time.
All the Best,
Rick

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