Subject: Re: Proposed Investment Policies
From: "Rick Leach" <[email-masked]>
To: "Hunter Biden" <[email-masked]>
Date: Thu, 15 Mar 2012 22:14:02 -0400

Thank you.

Sent from my iPhone

On Mar 15, 2012, at 7:59 PM, "Hunter Biden" <[email-masked]<mailto:[email-masked]>> wrote:

I agree with Bonnie.

RHB
202.333.1880

On Mar 15, 2012, at 2:27 PM, "Bonnie Raquet" <<mailto:[email-masked]>[email-masked]<mailto:[email-masked]>> wrote:

As I indicated when we first reviewed these, and based on my general experience on other boards where we manage endowment funds, these policies seem appropriately conservative, and the asset allocation instructions fit the goals.  I approve.

Bonnie E. Raquet
Phone: 612-562-0380
E-mail:  <mailto:[email-masked]> [email-masked]<mailto:[email-masked]>

From: Rick Leach [mailto:[email-masked]]
Sent: Thursday, March 15, 2012 12:33 PM
To: '<mailto:[email-masked]>[email-masked]<mailto:[email-masked]>'; Bonnie Raquet; Randy Russell (<mailto:[email-masked]>[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