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Resolutions of
The Board of Trustees

Lincoln University, PA
 

RESOLUTION 351
February 20, 2010

 
 
ENDOWMENT FUND INVESTMENT POLICY CHANGE        RES351_022010
(ASSET ALLOCATION)



     


WHEREAS, Lincoln University adopted its latest Endowment Fund Investment Policy on April 18, 2008; and

WHEREAS, Item VI (Asset Allocation Policy) of the Policy stated the following:

Table I
                              Target Asset Allocation Table

Asset Class                                            Min. Wt.        Target Wt.        Max. Wt.
           
Equities (1)                                                60%                70%                80%
           
Fixed Income                                            20%                25%                40%
           
Cash and Marketable Securities (2)            0%                    5%                10%
           
Alternative Investments:               
           
        Real Estate                                            0%               0%                    5%
        Venture Capital                                     0%                0%                    5%
        Private Equity                                        0%                0%                    5%
        International Private Equity                    0%                0%                    5%
        Natural Resources                                 0%                0%                    5%
        Distressed Debt                                     0%                0%                    5%
   
Includes cash equivalents, convertible securities and international issues, hedged components as defined under marketable alternatives and derivatives.

Includes cash equivalents and international issues, hedged components as defined under marketable alternatives.

These actions (establishing and revising the asset allocation) shall be noted in the minutes of the Investment Committee; and

WHEREAS, The Investment Committee of the Board of Trustees, upon review of the Target Asset Allocation Table, recommends the revision of the Target Allocation in deference to the present financial climate; therefore be it

RESOLVED, That the Lincoln University Board of Trustees hereby adopts the revised Target Asset Allocation as follows:

Table I
                                        Target Asset Allocation Table

Asset Class                                        Min. Wt.        Target Wt.        Max. Wt.
           
Equities (1)                                            60%                62.5%            65%
           
Fixed Income                                        20%                32.5%            40%
           
Cash and Marketable Securities (2)        0%                    5%               10%
           
Alternative Investments:               
           
        Real Estate                                    0%                0%                    5%
        Venture Capital                             0%                0%                    5%
        Private Equity                                0%                0%                    5%
        International Private Equity            0%                0%                    5%
        Natural Resources                        0%                0%                    5%
        Distressed Debt                            0%                0%                    5%
   
Includes cash equivalents, convertible securities and international issues, hedged components as defined under marketable alternatives and derivatives.

Includes cash equivalents and international issues, hedged components as defined under marketable alternatives.

These actions (establishing and revising the asset allocation) shall be noted in the minutes of the Investment Committee.



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