2022 Atlanta Board of Trustees Meeting

7173 S. Havana St #600-130 Centennial, CO 80112 P: 303.770.2526 | F: 303.779.4834 obesitymedicine.org

as measured by the variability of returns. The guideline for the portfolio investment mix shall be based on the following criteria:

• The equity portion of the portfolio will be managed within a band of 35%--75% of total investments. The equity performance will be measured against the appropriate Russell Indices. • The fixed income portion will be managed within a band of 35%--55% of total investments. The fixed income performance will be measured against the Ishares Barclays Aggregate Bond Index. • Alternative Investments: The portfolio shall consider the inclusion of "Alternative Investments" for the purpose of diversification and risk management, not solely for the purpose of seeking outsized returns. Thus, the potential impact on overall portfolio risk of specific alternative investments should be considered before investment. "Alternative Investments" includes assets with lower correlation to equity and/or fixed income, including: high yield debt, hedge funds, hedge funds of funds, commodities and natural resources, real estate, and private equity. Such investments might be accessed through a variety of structures, including private placements, mutual funds, exchange traded funds, structured notes and other issues. i. It is understood that some private investment structures do not offer immediate liquidity. Private asset investments for OMA will not have more than a 12-month soft lock period with periodic liquidity thereafter.

• The cash reserve and cash equivalent portion will be managed within a band of 20%--30% of total investments.

E. Target Mix: Asset mix within the above ranges will be determined by the portfolio manager’s outl ook and strategy to maximize the return on investment monies. In general, the objective of the investment policy is to produce a balanced portfolio with a target mix of investments of 60% equities and 40% fixed income instruments. Deviations from the investment strategy must be approved by the Board of Trustees in advance.

F. Restrictions: The portfolio manager may not invest OMA funds in the following manner:

• Purchases on margin or secure margin loans on any holding

• Short sales

• Interest rate future contracts

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