#reading-38-working-capital-management
An investment policy statement is a high-level document that consists of:
1. The purpose and objective of the portfolio
2. General guidelines about the strategy
3. The types of securities that will be used
4. The people responsible for the portfolio's management
5. The corrective steps to be taken if any violations occur
6. The limitations of the portfolio. (Individual asset class limit may not be mentioned in the IPS.)
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