Article XI: Scholarship Investment Account

Section 1.11.01: The NHA Scholarship Investment Account and all time deposits will be known as the NHA Scholarship Investment Account.

Section 1.11.02: The NHA Scholarship Fund shall designate an Investment Officer and establish an Investment Committee. The Investment Officer’s name will be published on the parent NHA and scholarship website and appear in each issue of Rotor Review Magazine.

Section 1.11.03: The objective of the NHA Scholarship Investment Account is to provide long-term growth of capital through a diversified portfolio of common stock mutual fund investments from all over the world including the United States. The secondary and less significant objective is the growth of monthly and quarterly income. Income within the investment account is primarily through dividend yielding common stock; however, the NHA Scholarship Investment Account does not establish a minimum yield to be obtained.

Section 1.11.04: The NHA Scholarship Investment Account will always maintain a significant cash allocation invested in high yielding and guaranteed time deposits and money market instrument.   The balance of cash to stock should be maintained on average between 15-25% cash and 75-85% stock. The amount of cash will vary and depends on various factors including market and economic conditions. At any time, the NHA Scholarship Investment Account can allocate as much as 100% into cash positions. The Fund relies on Investment Officer and Investment Committee’s professional judgment to make decisions and recommendations to the President of the Fund.

Section 1.11.05: To achieve the long-term objectives of the NHA Scholarship Investment Account, oversight and investment methodology will assume a “buy and hold” strategy. Short-term volatility will not deviate from long-term investment goals. The NHA Investment Account will be actively monitored by the Investment Officer and Committee and report to the President when directed. A formal report will be presented to the President in the months leading up to the annual symposium.