Page 35 - 2024 October

BOARD OF DIRECTORS MINUTES (2)
target and range amounts and recommends adoption of the Policy by the Board.
The Board unanimously approved the Investment Policy with the following revisions:
Performance Evaluation Benchmarks
Asset Class
Private Real Assets
Fixed Income/ Liquid Capital
Global Public Equity
Domestic
International Developed Emerging Markets
Global Private Equity Flexible Capital
Private Real Assets
Fixed Income/Liquid Capital Total Assets
C. Entrepreneurship Scholarship Policy
Benchmark
Custom Benchmark Custom Benchmark
47.5
28.5
14
5
25.0
10.0
5.0
12.5
100
32.5 % - 62.5 %
19.5 % - 37.5 %
9.0 % - 19.0 %
2.50 % - 7.5%
15.0 % - 35.0 %
7.5 % - 12.5 %
0.0 % - 10.0 %
10.0 % - 15.0 %
Global Public Equity
Morgan Stanley Capital International All Country World Index
Global Private Equity Capital
Morgan Stanley Capital International All Country World Index +3.0%; All Private Equity Benchmark
Flexible Capital
Hedge Fund Research Inc. (HFRI) Fund Weighted Index
Target (%)
Range (%)
Asset Class
The proposed revised Policy had been circulated and is attached hereto as Attachment “A”. This proposed policy revision comes at the recommendation of the Grant Program Committee. As was discussed at the Committee meeting, the proposed changes cap the amount that can be awarded to full-time and part-time students per semester. For full-time students, the maximum award will be $2,000 per semester for those earning at least a 2.0 GPA and $3,000 for those with 3.0 or higher. For part-time students, the highest award will be $1,000 per semester for those with at least a 2.0 GPA and $1,500 per semester for those with a 3.0 or higher.
The Board unanimously approved the revised Entrepreneurship Scholarship Policy.
Education / A Powerful force for change Page 33