Ohio Administrative Code › Title 3341 - Bowling Green State University › Chapter 3341-6 - Compliance with Occupational Safety and Health Standards › Section 3341-6-08 - Investments

Current through all regulations passed and filed through July 1,
			 2024
(A)
								Policy statement and purpose
This statement of investment policy
				(the "policy") is intended to specify the guidelines and objectives for Bowling
				Green state university ("BGSU" or the "university") investment and operating
				funds (the "portfolio"). The purpose of this policy is to establish direction
				for the management of the portfolio, to outline internal staff's
				responsibilities, and to establish the basis for communication between the
				university and the external investment manager(s) and advisors.
(B)
								Policy
			 scope
This policy is adopted by the board of
				trustees of the university to govern the investable assets of the university.
				This policy also identifies the broad investment strategy to be followed in the
				investment of the university's investable assets and the limitations on the
				discretionary authority to be given to internal and external investment
				manager(s).
(C)
								Policy and responsibilities
The policy intends to distinctively
				define the roles and responsibilities of the board of trustees, joint
				investment committee, BGSU administration, and the OCIO/ advisor ("OCIO"). The
				board has delegated certain activities to the joint investment committee. BGSU
				administration and the OCIO are resources for the board and committee to
				fulfill their responsibilities. The joint investment committee has selected an
				OCIO to have discretion in certain areas of portfolio management and
				implementation as summarized in the following table and detailed description of
				responsibilities.
Board
Joint investment
						  committee
BGSU
						  administration
Consultant/
						  OCIO
Investment
						  policy
approve
develop, review and recommend
						  to Board
facilitate development and
						  recommendation
advise/assist
						  development
Investment consultant/
						  OCIO
approve
evaluate, select, and
						  oversee
execute agreement; facilitate
						  evaluation, selection, and oversight
Portfolio
						  management
informed
oversight, strategic
						  guidance
determine contributions and
						  withdrawals, oversee operational execution and
						  implementation
strategic advice, discretionary
						  asset allocation and manager implementation/ execution in line with
						  guidelines
Strategic asset allocation
						  (high level)
approve
develop, review, and
						  approve
review/assist
develop and
						  advise
Liquidity
approve
review and
						  approve
monitor and
						  inform
review and
						  implement
Discretionary asset
						  allocation
informed
review
review/assist
implement and
						  inform
Selecting and terminating
						  managers
informed
review
review/assist
implement and
						  inform
Manager
						  allocations
informed
review
review/assist
implement and
						  inform
Trade
						  execution
informed
informed
review/assist
implement and
						  inform
Rebalancing
informed
informed
review/assist
implement and
						  inform
Performance
						  evaluation
informed
review and
						  evaluate
review and
						  evaluate
prepare
Board
						  reporting
informed
prepare and
						  review
prepare and
						  review
prepare and
						  advise/assist
(1)
									Board of trustees
The board of trustees is responsible
				for oversight of university investment assets. The board has delegated
				management and implementation oversight to the joint investment committee. The
				primary responsibilities of the board include the following:
(a)
										Appoint trustees
			 to the joint investment committee;
(b)
										Approve the
			 investment policy statement including governance, roles and responsibilities,
			 objectives, constraints, and strategy guidelines; and
(c)
										Receive and
			 review updates from the joint investment committee and university
			 administration on the investment assets.