Constancian Legacy Asset Management
Constancian Legacy Asset Management, also known as CLAMP or the Permanent Fund is the sovereign wealth fund of the Imperial State of Constancia. Created by Autokratorial Decree in 1695, it is managed by the Constancian Legacy Asset Management Corporation, a state corporation.
Management
The Constancian Legacy Asset Management Corporation is overseen by a Board of Governors which is chaired by the Autokrator of Constancia, with the Mesazon as Senior Vice Chair and senior member of the Board of Governors. Other members of the Board of Governors include the Speaker of the Imperial Synkletos, an Imperial Senator designated or elected by the members of the Imperial Senate, a Dikastis designated or elected by the Dikastis of the Imperial Synkletos, the Minister of Finance, the Minister of International Trade and Industry, the Minister for Social Welfare, the Kyvernítis of the Basileusan Bank.
The Corporation is run by a President who is elected by the Board of Governors for a 1-year term, which is renewable yearly. Katja Magda Thorgilsdottir was a very strong candidate to be elected its first President, but considering her present commitments as CEO of Kerularios & Company, Director for Keltian Operations of ESB and a host of other roles, she acquiesced to a paid senior executive consultancy role and Chairmanship of the Investment Management Committee, with final word on investment recommendations prior to Board of Governors approval.
Assets Under Management
A significant portion (nearly 90%) of the assets of the Androphagos Corporation, donations at the behest of Basilinna Olympia from Crown Lands revenues, cash sequestered from enemies of the Imperial State, private donations in lieu of statutory tax audits, and other dormant petroleum and other revenues of the Imperial State of Constancia, amounting to some 129,783,600,000 natopos, was sequestered and reallocated accordingly to the Constancian Legacy Asset Management Permanent Fund, under the management of the Constancian Legacy Asset Management Corporation. Of this amount, 1 billion Natopos is statutorily deposited at the Basileusan Bank to earn interest, which is then turned over as a working fund to the Corporation for administrative and employee expenses. The remainder may be invested globally, under the conditions that no more than 20 billion Natopos may be invested in any single continent, and no more than 10 billion Natopos in a single country, in order to ensure proper risk management. Investing policy is permanent - maximum possible return at prudent investment terms. Each investment must be approved by the Board of Governors.
The earnings of the Permanent Fund for the year is deposited in the Basileusan Bank to earn interest. 25% of this amount may be released by the Basileusan Bank and appropriated by the Imperial Government for social services funding for the succeeding calendar year.
