Regents' Policy Manual - Section 7.19: Regents' Endowment Fund

Adopted Date: 09-12-1996
Amended: 08-16-2005

Applicability

This policy applies to all allocations and expenditures from the Regents' Endowment Fund.

Policy

The Regents' Endowment Fund has been created as a quasi-endowment of the University. It shall be managed and used as follows:

1. The Regents' Endowment Fund shall be invested as part of the University's endowment funds and portfolio and shall be managed in accordance with the Regents' Investment Management Policy.

2. The proceeds from the sale of all real property owned by the University, net of any disposal costs, shall be deposited into the Regents' Endowment Fund.

3. All reductions of the Regents' Endowment Fund principal balance must be approved by the Board of Regents and shall generally be limited to acquisition of real property.

4. Investment income distributed annually in accordance with the investment management guidelines approved by the Board of Regents shall be limited to programs which: (1) enhance the recruitment and retention of outstanding faculty, staff and students; (2) contribute to the merit-based scholarship program of the University, including the Regents' Scholars Program; (3) support the development of real estate; (4) provide for the University President's Advancement Program; (5) reward outstanding performance of the SAM Financial Services Center Investment Management Program, to be used for improvements to and upgrade of the facilities, equipment, software, and special projects for the Finance Services Center.

5. The University administration shall provide information to the Regents in June of each year regarding the Regents' Endowment Fund's principal balance and the proposed distribution of income for the next fiscal year.

6. To provide an opportunity for Anderson Schools of Management (ASM) students to receive realistic investment experience and training, the Board of Regents' will transfer Two Million Dollars ($2,000.000) from the UNM/Foundation Consolidated Investment Fund to the Financial Services Center Investment Management Program of the Anderson Schools of Management. The funds will be invested as part of an ASM faculty-guided educational program. This transfer is effective August 31, 2005, in accordance with the Resolution adopted by the Board of Regents on April 12, 2005, and implemented in accordance with the Investment Management Guidelines for ASM Financial Services Center Investment Management Program, as reviewed and revised by the Board of Regents. The funds remain part of the Regents' Endowment and the Board of Regents retains the right to terminate the program and require the return of any or all of their fund balance.

Implementation

The President may adopt administrative policies and procedures to implement this policy.

References

RPM 7.13 (Receipt and Investment of Gifts to the University).