Statement of Purpose

This Investment Policy Statement outlines the District of Columbia Retirement Board’s (DCRB or the Board) investment philosophy and practices. It formalizes the Board’s investment objectives and policies, and it serves as the governing document for the management of the assets of the Funds. Finally, it defines the duties and responsibilities of the individuals and entities involved in the investment process. The assets of the District of Columbia Police Officers and Fire Fighters' Retirement Fund and the District of Columbia Teachers' Retirement Fund (collectively referred to as the Fund) are managed with the primary objective of achieving a net investment return with acceptable risk considerations and sufficient liquidity to maintain the fully funded status of the Fund. Therefore, the Board must adopt a long-term plan by which the assets of the Fund will be managed prudently to ensure the level of assets adequately covers the accumulated liabilities.

You may download the PDF below to access the full version of the DCRB Investment Policy Statement, approved by the Board on October 19, 2017.

Separate Documents Related to the Policy

The following documents are incorporated by reference into this Investment Policy and are linked for your information below:

• Asset Allocation Investment Policy, adopted and approved July 18, 2013
• Conflict of Interest Guidelines, amended March 2006
• Derivative Policy and Procedure Addendum, adopted and approved May 16, 2013
• Environmental, Social, and Governance Policy (ESG), adopted and approved November 21, 2013
• Funding Policy, adopted and approved June 22, 2017
• Governance Policy for Alternative Investments, amended September 28, 2017
• Investment Committee Charter, amended and approved May 18, 2017
• Investment Policy Statement for Absolute Return Investments, adopted and approved September 20, 2012
• Investment Policy Statement for Private Equity Investments, adopted and approved September 28, 2017
• Investment Policy Statement for Real Assets, adopted and approved September 28, 2017
• Investment Watch List Policy, adopted and approved June 22, 2017
• Proxy Voting Guidelines, adopted September 15, 2016
• Rebalancing Investment Policy, adopted and approved September 28, 2017
• Securities Litigation Policy, amended May 18, 2006