UNIVERSITY OF PITTSBURGH POLICY 01-03-05

CATEGORY:               ADMINISTRATION
SECTION:                   University Governance
SUBJECT:                  Board of Trustees: Investment Committee
EFFECTIVE DATE:    July 23, 2001 Revised
PAGE(S):                    1

I.    SCOPE

      This policy affirms the membership, power, and authority of the Investment Committee of

      the Board of Trustees.  The following is excerpted from the University of Pittsburgh

      BYLAWS.  (See Appendix A.)

II.   POLICY

      The Investment Committee shall provide advice to the Treasurer of the University,

      regarding the management of the University endowment.

      The Investment Committees responsibilities shall include, but not necessarily be limited to,

      the approval of endowment investment guidelines, objectives, and spending policies, and

      the review of the selection of investment advisors and consultants and the review of the

      performance of investments.

III.  REFERENCE

      University of Pittsburgh of the Commonwealth System of Higher Education - BYLAWS,

      Chapter I, Article V, "Committees."  Adopted by the Board of Trustees, January 14, 1969,

      and as amended thereafter.