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OUR WORK WITH 客户端S
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我们的客户关系是建立在尊重、信任、诚信和开放沟通的基础上的. 我们努力发展强大的合作伙伴关系，将我们的服务作为客户的延伸, 让一个资源充足的投资办公室来管理投资项目.
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There are four key tenets which underlie how we work together.-
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SERVICE
Angeles maintains an unparalleled commitment to client service. Our investment officers, those who make portfolio decisions and oversee execution, assume the lead for client relationships. 这为客户提供了直接接触负责管理其投资组合的专业人士的宝贵机会. 这与业内其他指派非投资专业人士担任客户关系经理的公司形成鲜明对比.
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PARTNERSHIP
As a co-fiduciary with each client, we are a true partner, aligned in overseeing their investment program. At Angeles, 我们寻求与客户的长期合作关系，我们可以发展互利的合作伙伴关系. 这与我们服务的客户数量无关，而与我们关系的质量有关. We measure our success by the success of our clients. It’s just that simple.
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COLLABORATION
我们深知妥善管理客户金融资产的重要性, and the necessities in understanding their broader enterprise. 我们必须与客户合作，了解他们的目标, preferences, constraints, and operational needs. 量化他们对风险的容忍度是必要的，这样我们才能确保风险的大小和管理得当, enabling them to withstand extreme market shocks and downturns. 开放和频繁的沟通是良好协作的基石.
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EDUCATION
我们为客户提供多方面的思想领导力和受托教育平台, which includes the following:
- Research papers on a multitude of topics, including the global markets, economy, 风险, 环境、社会和治理 and governance.
- Online and onsite educational events. Board, donor and other stakeholder education and support.
ROLES AND RESPONSIBILITIES OF WORKING TOGETHER
![Michael Rosen and Joshua Rothstein - Responsibilities of Working Together]()
我们的客户有责任为他们的项目设定总体目标, 在我们的协助下，我们制定了可供他们考虑的另类投资政策.
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客户还承担阐明企业级考虑事项的责任, liquidity needs, spending requirements, and mission-related objectives that affect the portfolio. Time is spent testing 风险 tolerance, particularly downside shocks. 我们认为我们的职责是确保所有这些目标和交叉考虑能够一起运作，以确保耐久性和可持续性. 根据新目标评估客户当前持有的资产，通常会导致经理的变动和重新分配.
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下一个, Angeles assumes full responsibility for the management of the assets, within the defined guidelines. 然而，我们愿意探索安吉利斯没有完全自由裁量权的任务. Our back office team interfaces with custodians, reconciles trades, generates reports, and provides annual audit and tax support. 此外，我们还提供支持，帮助客户与其他组成部分进行沟通.g., board, donors, etc.) as needed.
客户端 CASE STUDIES
SOLVING UNIQUE CHALLENGES TOGETHERA COMMUNITY FOUNDATION ESTABLISHES A SOCIALLY RESPONSIBLE POOL FOR DONORS
社区基金会在将社区成员与有意义的问题yabo亚博网站登录起来方面发挥着至关重要的作用. Over time, 捐赠者越来越关注他们的慈善资金是如何投资的, 尽管各机构一直在努力应对如何审慎而深思熟虑地与利益相关者就这一复杂主题进行接触的挑战.
For over a decade, 安吉利斯与一家位于加州的社区基金会合作，该基金会的流动资产为1.2亿美元. More recently, donors have expressed an interest in climate change, sustainability, 以及其他重要的社会问题，以及“将他们的捐款投向更符合他们价值观的投资工具”的愿望,” according to the Investment Committee Chair.
保持与基金会使命和组织战略的一致性是安吉利斯与投资委员会合作的首要任务，该委员会为捐助者制定了一项投资选择，其中纳入了该公司对环境的深入研究, social and governance (环境、社会和治理) values, mission, and impact investments.
这些努力最终使基金会正式启动了一个新的社会责任池(SRP)。. SRP为捐赠者提供了接触经过彻底审查的基金经理的机会，这些基金经理的证券选择和投资组合构建过程侧重于拥有高可持续性评级的公司, engage in positive economic development, pay heed to renewable resources, and adhere to strong governance practices. On an ongoing basis, Angeles将审查所有持股，以确保它们继续满足可持续性目标，同时提供具有竞争力的净收费业绩结果.
SRP的预期收益和潜在成本结构都比基金会先前的长期投资池有利, and donors have responded enthusiastically to the new option. 基金会乐观地认为，随着时间的推移，社区内的这种积极反应将有助于吸引更多的资产来支持基金会的资助.REAPING THE BENEFITS OF A BETTER GOVERNANCE MODEL
"A forest doesn't weep over one tree," noted Aleksandr Solzhenitsyn. Yet for decades, 许多受托人在相对无关紧要的问题上花费了大量精力，却忽视了真正具有战略重要性的问题.
董事会认识到一个1.8亿美元的私人基金会内部资源有限, coupled with individuals’ time constraints, required streamlining the organization’s governance structure. The Foundation hired Angeles to implement a discretionary OCIO model, 使其投资委员会能够更有效地发挥作用.
以前，客户对所有与经理有关的决策保持控制，甚至要求公司在每月的董事会会议上做报告. After ceding this authority, 委员会能够与Angeles合作，探讨在投资组合中增加私人市场投资的预期收益和权衡.
最终，董事会修改了其投资政策声明，以便Angeles能够进一步多样化，进入私人市场机会. Over time, 这个决定有可能改善扶轮基金会投资组合的回报，从而提升未来奖助金活动的命脉.ALIGNING INVESTMENT POLICY WITH MISSION
At every private foundation, mission matters. It guides every aspect of the grant making process. Mission typically takes a backseat, however, 当涉及到产生资金来资助这些赠款的投资时.
在与一个致力于帮助低收入家庭的基金会合作了几年之后, 安吉利斯被要求指导董事会采取可能的方式，使该组织的投资战略与这一使命及其相关价值保持一致. 这次对话引发了一系列教育会议，深入探讨了新兴的任务相关投资(“MRI”)领域，并随后成立了一个特设MRI委员会，带头与Angeles就这一主题开展工作.
我们与特设委员会合作，通过调查董事会成员和制定工作计划，确定优先事项，并就关键目标达成共识.
这一过程最终形成了一份经过修订的投资政策声明，该声明充分整合了基金会新建立的核磁共振指导原则. 审计委员会承认，实施将是一个多阶段的过程，今后与核磁共振成像有关的拨款将取决于随着时间的推移所创造的机会的质量. 基金会还承诺进行不断的教育和反思，以便公平地评估财务和与特派团有关的成果, as well as success in aligning the two.OUR TEAM IS LED BY EXPERIENCED INVESTMENT PROFESSIONALS
Investment Officers
Investment Team
Operations
Reporting
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CONTACT US
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SANTA MONICA
429 SANTA MONICA BLVD
SUITE 650
SANTA MONICA, CA 90401
310.393.6300
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NEW YORK
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NEW YORK, NY 10152
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SUITE 1480
HOUSTON, TX 77056
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