AEF Investment Policy

Current policy effective November 17, 2023

Download the Investment Policy (PDF)

View our Investment Policy Statement to understand the guidelines that govern the investment activities of your donor-advised fund. 

The most recent improvements to our policy included:

  • Conciseness: Provides greater clarity on roles, objectives, and expectations.
  • Flexibility: Offers flexibility for advisors to better align their chosen investment portfolios with donor objectives.
  • Investment Oversight: Clear definition of AEF’s oversight responsibilities and governance.

As a financial advisor, is there a specific strategy and benchmark I must follow?

No, as long as it meets the bounds of the AEF Investment Policy. The AEF Office of Business Oversight must be informed of the financial instruments and vehicles being utilized. 

What is the financial responsibility of the donor?

When the donor makes the gift, AEF has legal control over the assets. However, the donor is allowed to recommend a representative who retains advisory privileges with respect to distribution of funds and investments within the donor-advised fund.

How are proxies and other actions handled?

The financial advisor votes proxies and respond to legal or corporate actions consistent with its policies. The financial advisor may disclaim this responsibility in writing. If disclaimed, AEF does not have to notify how proxies were voted. 

Are there any exceptions to this policy?

Exceptions to the policy will be reviewed on a case-by-case basis. The financial advisor should provide all documentation supporting their proposed strategy. AEF will conduct due diligence and provide response.