Investment Management 32

c Includes new management control function.

Audit of the Investment Management Service investment performance measurement system

d Includes management of the inspection function.

Although the Investment Management Service is not a registered investment company, the goal of the Risk and Compliance Section would be to enhance the compliance function and, in doing so, foster improved compliance.

(f) Heightened management attention to the evaluation function.

The sole exception related to audits of the Investment Management Service, which performed a function delegated to the Secretary General under the Regulations of the Fund.

Office of the Director, Investment Management Service

Office of the Director, Investment Management Service

Recommendations 7 (a) and (d) Investment management

Table 25 History of the Investment Management Service

Mr. H. L. Ouma, Chief, Investment Management Service

Figure 18 Cost of management of the Fund's portfolio by the Investment Management Service

Funds drawn from the investment management companies was 26,350,000.

These comprise investment in deposits, bonds and equities managed by the United Nations Investment Management Service.

(g) It is important to have a function within the Investment Management Service that will play an independent liaison role in the Fund's governance structure in regard to compliance issues.

(e) To signal a commitment to the professionalism of the management function.

(e) To provide management and operational support to the Resident Coordinator function

The UNHCR Treasury makes the decisions on investment and cash management.

(e) On the cost side, the investment cost of management improvements.

The Environmental Management Group will be requested to contribute to this brokering function.

The total investment in management reform measures recorded in 2004 was 3,386,366.

As regards the investment decision making process, some members of the Board suggested that there should be more than one investment adviser, and that the management of the investments should be entrusted to external investment managers who would be under the supervision of the Investment Management Service.

In other words, the state should always have an investment function. Delegating that function to a dedicated institution may have advantages for the presentation of the public accounts.

(b) To review the procedures and operating methods of the Investment Management Service

(b) Develop, administer and maintain system interface with investment advisers, custodians, bankers and all related financial institutions, and maintain the infrastructure and portfolio management and operational systems of the Investment Management Service

Management of the Public Carriage Office had previously been a function of the Metropolitan Police.

The Secretary General, through the Investment Management Service, continued to search for investment opportunities in developing countries during the year under review.

(c) Enhancement of the Investment Management Service through the addition of five new posts, indexed management costs, including the costs of transition management services, and consultant costs

Implement a full segregation of duties on investment and cash management decisions (para. 89)

(c) Improving the efficiency and flexibility of the Investment Management Service in adopting new investment approaches requires a stronger and more sophisticated infrastructure.

(d) In view of the size and diversification of the investment portfolio, the Investment Management Service should increase the number of investment managers or review the possibility of hiring additional discretionary investment advisers (AS2001 95 1 14)

(f) Implement a full segregation of duties on investment and cash management decisions (para. 89)

The project will assist the Investment Management Service in mitigating exposure to various risk factors.

Investment cost describes the resources invested in implementing management improvement measures during the reporting year.

Multilateral financial institutions must maintain their central function in the international development architecture, and in particular in financing infrastructure investment.

(e) The new investment officer will be specialized in alternative asset management, the skills for which significantly differ from those for conventional portfolio management.

In essence, senior management must visibly support internal audit if an effective internal audit function is to exist.

Investment in payroll systems could provide significant returns in cost avoidance and in better system management.

The office of the Director is responsible for the overall operations of the Investment Management Service.

The others involve investment programming, information systems for economic planning and management and regional (subnational) planning.

Crisis and management is a key function of public administration, and it cuts across service delivery and delivery functions.

The goals to be achieved relate to the acquisition, customization, installation and maintenance of investment management systems

This effort will be complemented by investment in Headquarters and mission data collection and information management systems.

A new management team had been appointed for the General Authority for Investment and Free Zones (GAFI).