Cambridge University Investment Club

Constitution

(Amended constitution as agreed at the EGM on 11 February 2008)

1. The name of the Club shall be "The Cambridge University Investment Club" (herein referred to as the "Club").

2. The Club's aims shall be to:
- Provide members with speaker meetings and a forum for the discussion and exchange of ideas on a diverse range of topics relating to the finance industry and the capital markets
- To maintain an involvement in capital markets , allowing members the opportunity to play an active role in managing the Club's funds

3. All members of the University shall be eligible to join the Club. Non -members of the University may apply to the Committee for membership to the Club. The Committee shall have the right to offer honorary membership as it sees fit. It shall not refuse an application for membership on the grounds of race, sex, sexual orientation, religion or political views. It may expel any member for behaviour likely to bring the Club into disrepute.

4. There shall be two categories of membership:
- General Members who shall be entitled to attend speaker meetings and the discussion sessions
- Core Members (or Sector Members) who shall be responsible for conducting market research and evaluating and determining the Club's investment strategies. Only Core Members shall be entitled to vote on the Club's investment strategies. In addition, Core Members shall have all the rights and entitlements of the General Members.

5. The applicant shall determine which membership category he/she wishes to fall into.

6. The Club's Committee shall consist of a Faculty Member (Senior Treasurer), Chairman, President, Secretary, Treasurer and officers responsible for Investment Fund Management, Corporate Relations and Information Technology.

7. The Senior Treasurer, who shall be a senior member of the University, shall be appointed (or confirmed) by the Committee each year to examine the Club's account. The Senior Treasurer shall not be liable for any financial debt or other obligations of the Society.

8. Full committee meetings shall be not less than once per academic term, though speaker meetings, discussion sessions, market analysis and trading decision meetings shall take place more frequently.

9. An AGM of the Club may be held each year in the first half of the Lent Term. The time and venue of this meeting will be determined and publicised by the Committee at least fourteen (14) Full Term days beforehand. Any EGM called shall be publicised in the same manner.

10. Committee posts shall be filled by members of the Club, elected by the current committee. Nominations for Committee positions must be submitted to the acting committee or in absence to the Club’s chairman. Any member of the Club may nominate him/herself for any Committee post. An appointing committee (consisting of at least the Club’s chairman) will pre-screen candidates and interview the rest. After an interview process the current committee can apoint the members of the new committee. Furthermore, the Committee may at its discretion co-opt additional members onto the committee where it perceives the need, or to fill vacancies that may arise.

11. The Committee shall retain the right to levy an annual membership fee on the Club's members

12. The Club's Investment Fund shall be raised exclusively through sponsorship from corporate institutions. Sponsorship contributions that exceed the Club’s operating costs must be used to increase capitalisation of the Investment Fund.

13. Any derivative trading conducted by the Club shall be conservative in nature - no naked positions shall be taken.

14. Members shall not be permitted to stake their own assets with the Club.

15. All profits (if any) deriving from the investment activities of the Club shall strictly remain the property of the Club and can be reinvested or donated to registered charities. The profit allocation decision shall be taken in summer or Michaelmas term after the Club's accounts have been agreed by the Senior Treasurer and the University Proctor Office.

16. If profits are to be donated, the committee must publicise a call for application. All charity applications will be scrutinised by the committee, following transparent evaluation criteria. These criteria shall include the track record of charities and a non-controversial mission.
Additionally, donations should benefit local charities or charities aligned with the University. The committee donation decision must be verified in an AGM or EGM and must be agreed by both the Club's chairman and its Senior Treasurer.

17. Separate account for trading activity and for operating expenses shall be held by the Club.

18. Amendments to this Constitution may be proposed by any six members of the Society, and must be submitted to the Secretary in writing. This Constitution may only be amended at an AGM, or an EGM specially called for the purpose.

19. On dissolution, all assets of the Society shall be distributed to charities following the same procedure as with profit donations.