Minutes of a Regular Meeting, June 22-23, 2004 - Digital Collections

REGENTS’ POLICY MANUALSECTION 4—FINANCE AND MANAGEMENT• Select a custodian to account for and custody fund assets, as necessary and appropriate.The Fund Investment Manager, as a fiduciary retained by the University, is responsible for theprudent and careful management of assets under its direction. These responsibilities include thefollowing specific duties:• Accept assets as directed by the University and exercise complete investment discretionwithin the guidelines assigned to them.• Invest assets in various funds and/or separately managed portfolios, so long as they adhereto Section 4.4.3 above, at the discretion of the Fund Investment Manager. Consistent withthis Statement of Investment Policy Board of Regents’ investment policies, the FundInvestment Manager has full investment discretion over the assets under its control withrespect to asset mix and security selection, so long as they adhere to Section 4.4.3 aboveand timing of transactions.• Supply statements of activity to the University at least quarterly, including a detaileddescription of time-weighted rates of return, asset allocation, and portfolio strategy andcharacteristics.• Provide, at least annually, audited financial statements of any pooled or collective trustfund in which fund assets are invested.• Exercise any and all voting rights that relate to its role under this Statement of InvestmentPolicy the Board of Regents’ investment polices, with the intent of fulfilling theinvestment policies and objectives of the fund.• Inform the University of any significant matters affecting the Fund Investment Managerand its ability to manage the fund’s assets; such matters may include, but are not limitedto, substantive changes in investment strategy, portfolio structure, and market value of theassets, as well as significant changes in ownership, organizational structure, financialconditions, or senior personnel staffing.• Meet periodically with the University administration and the Board of Regents to reviewthe portfolio and investment results within the context of this Statement of InvestmentPolicy the Board of Regents’ investment polices.•• Provide advice, assistance, reports, research, and other such services as the University andthe Board of Regents may reasonably expect from the Fund Investment Manager.4.4.7 REVIEW OF INVESTMENT POLICIESY STATEMENTThe Board of Regents will periodically review these policy statements in detail.(RM, 1-27-04, p. 28924)THE UNIVERSITY OF OKLAHOMA 229