Investment Policies

168) What is the total amount of your school or school system’s investment holdings?
The University Foundation’s endowment fund has a value of about $14.5 million.  Not figured in the responses concerning investments is the University Foundation Unitrust accounts, which are about $13 million, because these investments are made in conjunction with the wishes of the donors.  The University Foundation also has about $3 million in short-term cash investments. 

The Research Foundation has endowed funds of about $500,000 and about $4 million in short-term cash investments.

The University has about $2.5 million in short-term cash investments.

The investment of Associated Students excess cash is in short-term money market or certificates of deposit with savings and loans or commercial banks.

As you can see, the campus does not have one integrated investment portfolio.

169) Does your school rank among the largest investors in any particular company?
No, none of the campus organizations rank among the largest investors in any particular company.

170) What are the names of the top ten companies (in value of shares) that your school or school system invests in? Assign number of shares, their “book” (original) value, and their current value.
Neither the University, the two Foundations, or the Associated Students invests directly in companies. 

The endowments of the two Foundations are invested in The Common Fund, which is a non-profit pool that invests the funds of many college endowments across the country.  The Common Fund has a number of mutual fund options from which we select in accordance with the investment policy of the Foundations.  Each of these mutual fund groups is managed, not by one manager, but by a number of different managers, which affords small investors, such as the university, some diversity of investment style.

About 60% of the endowment pool for each Foundation is invested in the Multi-Strategy Equity Fund (which in turn invest in a diversity of companies), and the remainder is in the Multi-Strategy Bond Fund (10%) and the Intermediate Term Fund (30%).  Information about the investments held by these mutual funds can be found on the Web site for The Common Fund.  Alternatively, we have The Common Fund’s annual reports in the Foundation Administration Office in Kendall 107.

The University, by Trustee policy, does not invest its general funds in equities.  Its cash investments are pooled with those of other campuses and invested by an investment house called MetWest in various bond and money market instruments (e.g. U.S. treasuries, other government securities, a small number of high quality corporate bonds, commercial paper, etc.).

171) Does your school invest in corporations with poor environmental records?
If so, which companies? What are the number of shares held and their value?
The Foundations, the University, and the Associated Students do not directly invest in companies and therefore do not keep track of or screen on the basis of environmental criteria. 

172) Does your school have and Environmentally or Socially Responsible Investment Policy?
Neither the two Foundations nor the University have policies, which call for investment in firms that have good environmental records.  The Trustees determine the university’s investment policy, and their criteria have to do with fiduciary matters rather than political, social, or philosophical ones.

The Associated Students investment policy also does not mention environmental issues as criteria.  However, they are required to follow the AS South Africa Policy regarding investments on a social basis.

The University Foundation’s Board of Directors also adopted a Socially Responsible Investment Policy, which called for South Africa-free investments at the time when apartheid was an issue.

173) Does your school screen investments for any social or environmental reasons? 
Currently the school does not screen investments for any social or environmental reasons.  The Associated Students still follows the AS South Africa Policy regarding social issues.

174) Has your school divested from any companies for social or environmental reasons? Please describe.
The University Foundation divested its portfolio of investments in South Africa during the time apartheid was practiced in that country.  The Associated Students has not divested from any companies for either social or environmental reasons. 

175) Has your school used its proxy votes to try to change any social or environmental policies and practices of any companies? 
No, the campus has not used proxy voted to try to change any social or environmental policies of any company.

176) Has your school actively invested in environmentally responsible companies? 
No.  As stated before no organization on campus invests in companies directly, but rather indirectly by means of mutual funds. 

177) Does your Board of Trustees/Regents have a student representative?
The Board of Trustees for the CSU system, and the governing boards of both the CSU, Chico Research Foundation and the University Foundation have student representatives. 


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