Viewing page 50 of 267

This transcription has been completed. Contact us with corrections.

-40-

[[underlined]] Investment Policy Committee Report [[/underlined]]

In the absence of Mr. Burden, Chairman of the Investment Policy Committee, Mr. Hohenlohe reviewed the Committee's report, circulated in advance of the meeting. Investment returns through the end of August indicate that performance by the Institution's managers has continued roughly in line with market averages over the past two months. 

The Chancellor noted that there was a vacancy on the Investment Policy Committee, due to the resignation as Regent of Mr. Watson. With the full support and approval of the Board, the Chancellor appointed Mr. Humelsine to fill this vacancy, noting Mr. Humelsine's service in similar capacity for other organizations.
 
The Report of the Investment Policy Committee follows: