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Mr. Franklin is 35 years of age, is in excellent health, and pursues an active life style. He is married and his spouse is the same age and is in good health. Both Mr. and Mrs. Franklin are school teachers who earn about $60,000 per year. Both of them plan to retire at age 62. Each of them will receive pensions equal to 65% of their annual salaries, plus Social Security benefits amounting to 20% of their annual salaries. Together, theFranklinshave savings, plus some equity in their home. Currently the following assets are available for use in building an appropriate portfolio: $ 25,000 Cash $100,000 Low-yielding bank certificates of deposit $100,000 Equity in personal residence (with $200,000 mortgage) $225,000 Total available assets a. Formulate and justify an investment policy statement setting forth the appropriate guidelines within which future investment actions should take place. Your policy statement must encompass all relevant objective and constraint considerations.

Mr. Franklin is 35 years of age, is in excellent health, and pursues an active life style.  He is married and his spouse is the same age and is in good health.  Both Mr. and Mrs. Franklin are school teachers who earn about $60,000 per year.  Both of them plan to retire at age 62.  Each of them will receive pensions equal to 65% of their annual salaries, plus Social Security benefits amounting to 20% of their annual salaries.  Together, theFranklinshave savings, plus some equity in their home.

 

Currently the following assets are available for use in building an appropriate portfolio:

 

$ 25,000         Cash

$100,000         Low-yielding bank certificates of deposit

$100,000         Equity in personal residence (with $200,000 mortgage)

$225,000         Total available assets

 

a. Formulate and justify an investment policy statement setting forth the appropriate guidelines within which future investment actions should take place.  Your policy statement must encompass all relevant objective and constraint considerations.

 

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