Operational Details for EMS Custom Accounts

Investment Decision
Working with your Investment/Endowment Committee, State Street Global Advisors (SSgA) will recommend an investment strategy and a specific portfolio to meet the objectives of your Investment Policy Statement.

Reports
ECF sends monthly statements by e-mail to all custom accounts. The statements can be sent to a committee chair or administrator, or to an entire committee. In addition, statements are sent by surface mail to the primary and secondary contacts listed on the account application form.

SSgA prepares performance reports for all custom accounts which are e-mailed by ECF each quarter to committee chairs or committee members. In addition, a performance report for a standard custom account is posted on the ECF website each quarter.

Reviews
For custom accounts that request it, ECF will arrange periodic conference calls between your committee and our portfolio manager at SSgA to review your account and discuss current market conditions.

Minimum Investment Amounts
The minimum investment amount required to open a custom account at SSgA is $1,000,000.

Authorized Contacts
The primary and secondary contacts listed on your application form will be the persons authorized to initiate withdraw of funds or make changes in asset allocation unless ECF receives instructions in writing establishing a different authorization.

Contributions or Additions to Your Account
After your initial funding, you can add to your investments at any time. Please notify ECF and then send or wire funds to State Street Global Advisors (SSgA) noting the appropriate account number for crediting. The funds are invested in a money market fund until they can be invested in your chosen asset allocation, usually within a few days.

Checks should be made payable to State Street Global Advisors (SSgA) noting the account number to receive the funds.

Distribution or Withdrawals from Your Account
Requests for withdrawals can be made at any time by notifying ECF in writing (e-mail is acceptable).

Persons authorized to request withdrawals from an account are the primary and secondary contacts as listed on the account application form or any written, confirmed updates to that information.

Wire Transfer Using the ACH (Automated Clearing House) System
All accounts are invited to establish an Automated Clearing House (ACH) system to permit direct wire transfers between SSgA and the institution’s local bank. There is no additional cost for this transfer.  Transactions usually take about three business days to complete. An ACH form is sent to each new account.

Rebalancing
Custom accounts are rebalanced automatically to the agreed-upon asset allocation each time funds are added, withdrawn, or vary by more than 3% from the target at the end of any quarter.