Policy 1601: Investment Management

Subject Area: Investments
Responsible Office: Investment
Sponsor: Trustees
Originally Issued: January 1995
Revised: January 2010
Refer Questions To: Jee He Kim, 773-834-5819

Purpose: To establish responsibility for the management of investments for all University funds other than those of the University’s defined benefit plan for nonacademic personnel.

Policy

1. The Vice-President for Investments shall be the Chief Investment Officer of the University, and, subject to the Board and the Investment Committee, and under the supervision of the President of the University, shall have charge of the investment of the University’s funds; the purchase, management, and sale or other disposition of its investment properties, including real estate; and insurance, taxes, and legal matters, including collections, relating to investment property; and the management of the Investment Office.

2. The Vice-President for Investments shall receive and be the custodian of all securities of the University and of the legal documents relating to invested funds, and shall promptly turn over all securities to the trust company or trust companies designated by the Board as depositories therefore.

3. Associate Vice-Presidents and Assistant Vice-Presidents for Investments are empowered to act on investment matters with the concurrence of the Investment Committee of the Board of Trustees.