Specifications include, but are not limited to: ATF’s goals and objectives are: • To provide an annual total return greater than distributions required by law. • Consistent with prudent standards for preservation of capital and maintenance of liquidity, to earn the highest possible total rate of return consistent with the Fund’s tolerance for risk as determined periodically by the Board. • In carrying out these objectives, short-term fluctuations in the value of the Fund’s assets shall be considered secondary to long-term investment results. • The Fund has a long-term investment horizon and believes that asset allocation is the major determinant of investment performance. Consequently, a long-term asset allocation will be determined consistent with the Fund’s investment objectives and performance goals. 2 • The assets will be managed on a total return basis. Although the policy recognizes the importance of preserving capital, it also must reflect that degrees of investment risk are generally rewarded with increased returns that compensate for the additional risk. • Additionally, risk greater than that of stable long-term low risk securities will be required to preserve the purchasing power of the Fund. It is appropriate to pursue riskier investment strategies if such strategies are in the Fund’s best interest. Selection of investment strategies will be evaluated on a risk-adjusted basis as needed to meet the investment objectives of the Fund.
