[committee] [ucc-announce] Annual General Meeting Agenda

[Andrew Adamson]

Hi All,

I will be proposing the following amendments to Motion 2 below:

Change section 1 to read: 
1 Monies designated as part of the investment shall be invested in an 
Exchange Traded Fund or funds (ETFs) where each ETF satisfies the 
following criteria:
<remainder of the section as-before>

Change section 2 in its entirety to read:
2 The funds shall be invested in broad exposure ETFs, such that:
	2.1 When new capital is invested or dividends are re-invested, 
units shall be purchased with a goal ensuring there is a minimum of 50% 
medium-risk-or-lower ETFs so far as is possible. 
	2.2 The Committee should take reasonable steps to ensure the value 
split does not fall below a limit of 30% medium-risk or lower ETFs, in the 
scenario where the value split has otherwise varied.

Change section 4 to read: 
4 Access to the investment, including the reserve account, shall require 
the written approval of two members of the Executive. Such approval may be 
in the form of dual approval via an online trading platform. This is 
intended as a security measure against a single malicious actor and is in 
addition to any other financial approval processes the club has.

And an additional section before the current section 6:
The Committee may, from time to time, buy and sell ETF shares within the 
aforementioned conditions so as to maximise the long-term return to the 
club.

Andrew Adamson
bob at ucc.asn.au

|"If you can't beat them, join them, and then beat them."                |
| ---Peter's Laws                                                        |

On Sun, 27 Feb 2022, Grace Fowler wrote:

> 
> Hi all,
> 
> Here’s the agenda for the upcoming Annual General Meeting on the 3rd of March at 5.30pm in the Guild Council Meeting Room . You can still nominate yourself or another person for a committee position, on the day.
> 
> Agenda
> 
> COMMITTEE REPORTS
> 
>  *  President
>  *  Vice President
>  *  Secretary
>  *  Treasurer
>  *  Fresher Representative
>  *  Ordinary Committee Members
> 
> ELECTION OF COMMITTEE
> 
>  *  President
>  *  Vice President
>  *  Secretary
>  *  Treasurer
>  *  Fresher Representative
>  *  X3 Ordinary Committee Member
> 
> GENERAL BUSINESS
> 
> Motion 1:
> 
> This resolution is made in accordance with the University Computer Club Inc. Investments Policy as detailed in section 1 of Appendix 1 of the Constitution.
> 
> The University Computer Club Inc. hereby resolves to set aside the previous investment resolution^[1].
> 
> [1]: https://www.ucc.asn.au/infobase/minutes/2016/AGM2016_resolution.txt "Investment policy 2016"
> 
> Motion 2:
> 
> This resolution is made in accordance with the University Computer Club Inc. Investments Policy as detailed in section 1 of Appendix 1 of the Constitution.
> 
> The club resolves to set aside the sum previously residing in the Club's term deposits, in addition to those funds designated for reinvestment under the previous investment resolution, as an investment as follows:
> 
> 1 The initial sum shall be invested in an exchange traded fund or funds (ETFs) where each ETF satisfies the following criteria:
>     1.1 The ETF shall be traded on the Australian Stock Exchange (ASX),
>     1.2 The ETF must target at least 25% Australian assets,
>     1.3 The management fees shall be under 0.5% per annum,
>     1.4 The fund issuer shall have been operating for at least 10 years,
>     1.5 The fund itself shall have existed for at least 3 years,
>     1.6 The minimum fund size shall be one hundred million Australian dollars,
>     1.7 The dividend payment interval shall be no longer than quarterly.
> 
> 2 The funds shall be invested in broad exposure ETFs, such that:
>     2.1 The target value split shall be 50% medium-risk or lower ETFs,
>     2.2 When new capital or dividends are invested, funds shall be purchased with a goal of returning the split to the target so far as is possible,
>     2.3 The minimum value split shall be 30% medium-risk or lower ETFs,
>     2.4 The Committee should take reasonable steps to maintain the value split within the specified range.
> 
> 3 Dividends received from the investment shall be reinvested in the principal such that the principal grows by at least the CPI of the previous calendar year plus one percentage point:
>     3.1 Should the dividend be insufficient, it shall be reinvested in its entirety,
>     3.2 Such reinvestment shall occur at least annually,
>     3.3 Where funds designated for reinvestment cannot be reinvested immediately, they shall be maintained in a separate reserve account of the club until they can be reinvested,
>     3.4 Funds in the reserve account are considered part of the investment,
>     3.5 The Committee shall have the power to move funds from the reserve account to another bank account so as to maximise the interest generated by those funds.
> 
> 4 Access to the investment, including the reserve account, shall require the written approval of two members of the Executive.
> 
> 5 The funds in this investment may only be accessed in accordance with the terms of this resolution, or a subsequent resolution passed in a General Meeting.
> 
> 6 This resolution shall be revisited at the 2023 AGM.
> 
>  
> 
> Kind Regards,
> 
>  
> 
> Grace Fowler,
> 
> UCC Secretary 2021
> 
>  
> 
> Sent from Mail for Windows
> 
>  
> 
> 
>