I. Name
A. Western Investment Club or W.I.C.
B. This name and its abbreviation shall be the only method of referring to or representing the club
II. Purpose
A. To educate members in the basic principles of investment practices and strategies
B. To generate a greater awareness among students of the economic realities of success and failure, profit and loss
C. To provide a positive representation of the University of Western Ontario in the business community and to potential students
D. To organize speaker programs, discussion groups and the like for all investment enthusiasts on campus
III. Membership
A. Membership is open to everyone
B. Members shall receive a copy of the W.I.C. Constitution upon joining the club
C. Only students of the University of Western Ontario are eligible to be officers of the club and to hold voting privileges.
IV. Executive Body
A. Composition
1. President
2. Vice President Corporate Affairs
3. Vice President Finance
4. Vice President Fund Management
5. Vice President Marketing and Special Events
6. Secretary
B. Duties of the Executive
1. President
a) Shall oversee the course of proceedings at executive and membership
meetings
b) Offer guidance and vision on future proceedings of the club
2. Vice President of Corporate Affairs
a) Responsible for inviting guest speakers, organizing workshops et cetera for
enrichment of club members.
3. Vice President Finance
a) Responsible for keeping financial records of the club aside from fund affairs.
4. Vice President Fund Management
a) See Constitution of the Fund Management Committee
5. Vice President Marketing and Special Events
a) Responsible for the promotion and general informative proceedings of the
club, including special events in accordance with the desires of the
membership.
6. Secretary
a) Responsible for keeping minutes of the General and Executive meetings and
assisting with general and administrative duties, including the Investment
Challenge and research in accordance with desires of the membership.
V. Finances
A. Upon joining the club, members must contribute a fee designated by the Executive
B. A 5% payout will be received each year from the Foundation Western account (See F.M.C.) based on written requests by the V.P. Finance to the V.P. Fund Management, who in turn will put forth a proposal to Foundation Western for the use of such a payout.
C. Budget
1. The Vice President Finance shall prepare a preliminary budget for the year in time
for the first general meeting.
2. The budget shall reflect the desires of the members and may be amended by the
members
3. The final budget shall be ratified at the second General Meeting.
VI. Meetings
A. A general meeting shall be held once each month with the exceptions of December and April.
B. The Executive of any member with 10% membership backing may call a meeting.
C. Non-members are welcome to attend club meetings
D. Quorum for meetings shall be 25% of current members.
VII. Elections
A. Members in good standing may vote in elections
B. Annual elections will be held at the General meeting in March.
C. No one may hold two Western Investment Club positions simultaneously.
D. Nominations
1. For Western Investment Club Offices shall be open in the General Meeting in
February and will be accepted until one week prior to elections.
2. Nominees must be sponsored by at least two members in good standing.
3. Nominees for the position of V.P. Fund Management must be approved by the
current year Executive as outlined in the F.M.C.
E. Candidate Speeches
1. Candidates for the office of President shall have up to five minutes to speak before
elections
2. Candidates for all offices except the Presidential Office shall have up to three
minutes to speak before elections.
F. Determination of Elected Officers
1. A majority of the votes cast is required for candidates to be elected to office.
2. If no single candidate receives a majority vote, then the candidate receiving the
fewest votes shall be removed from contention and a new vote shall be cast. This
process will continue until a single candidate receives the majority of votes.
G. Uncontested candidates for positions shall have to pass a vote of confidence (over 50% of the eligible vote) by the voting membership.
VIII. Removal of Officers
A. Any member with 25% membership backing may commence impeachment proceedings of any and all officers of the club.
B. Impeachment of an officer of the club must be approved by a 2/3 majority vote at a club meeting and by a majority of the University of Western Ontario Clubs Policy Committee.
IX. Amendments
A. Amendments to this Constitution must be approved by a 2/3 vote at a club meeting and by a majority of the University of Western Ontario Clubs Policy Committee.
X. Agency
A. The Western Investment Club is neither an agent nor a representative of the University Student's Council and its views and actions in no way represent the University Students Council.
Fund Management Committee
A subsidiary of the Western Investment Club
I. Name
A. The Fund Management Committee or F.M.C. will be a subsidiary committee of the Western Investment Club or W.I.C.
II. Purpose
A. To educate members of the Western Investment Club on various aspects of investment analysis and selection through actual trading on active markets.
B. To enhance the purpose of the W.I.C. stated in the W.I.C. Constitutions.
C. To actively invest the funds available to the F.M.C. via Foundation Western. Herein all funds in Foundation Western's Western Investment Club shall be referred to as 'The Fund'.
III. Membership
A. Membership is open to all W.I.C. members with current academic status at the University of Western Ontario
B. Non-Voting memberships will also be granted to Faculty Advisors and Honorary Advisors.
IV. Executive Body
A. Composition
1. V.P. Fund Management
2. Sector Analysts
3. Secretary
B. Duties of the Executives
1. V.P. Fund Management
a) Shall supervise all meetings involving the F.M.C.
b) Shall act as representative of the F.M.C. to Foundation Western in regards to
all Fund related matters.
c) Offer guidance on methods of analysis and selection of securities for the
Fund.
d) Maintain a journal containing all trades, holdings and decisions for their
entire term of office. A copy of this journal will be given to Foundation
Western at the end of each term of office.
e) Submit a monthly statement summarizing all events occurring with regards
to the F.M.C. All statements will be signed by both the V.P. Fund Management
and the Secretary
2. Sector Analysts
a) Shall oversee committees to analyze various sectors of the stock market
and make securities selections based on these analyses.
3. Secretary
a) Shall record minutes of all meetings of the F.M.C.
b) Shall assist V.P. Fund Management in creation of monthly statement.
V. Fund Objective
A. The goal of the F.M.C. will be to achieve a return of 7% per annum following transaction costs. In any one year, the real return may be above or below 7%. Yearly returns shall be measured as at March 31.
VI. Fund policies
A. The Investment Committee of the Board of Foundation Western
1. Any and all decisions of the F.M.C. are subject to the approval of the Investment
Committee of the Board of Foundation Western.
B. Minimum Investment
1. A minimum of 20% of the fund's total value must at all times be invested in some
form of security.
C. Decision Criteria
1. A ¾ confidence vote shall be necessary to proceed with any trade or investment
in general. All members of the F.M.C. receive one vote.
VII. Determination of Office
A. Nominees for the position of V.P. Fund Management must be nominated by at least two members in good standing. These nominees will be evaluated by the current year executive members in an interview process. Nominees that are successful in their interview will then follow the election process as stated in the W.I.C. constitution.
B. The secretary will be elected as stated in the W.I.C. Constitution.
C. All sector analysts will be selected by the executive members of the W.I.C.
D. Faculty and Honorary Advisors will be selected by the executive of the W.I.C.
VIII. Amendments
A. All amendments to the constitution of the F.M.C. are subject to approval of the Investment Committee of the Board of Foundation Western.
B. All sections of the constitution of the F.M.C. can be amended by a ¾ vote of quorom.