Board of Curators Finance and Audit Committee opens meeting
Welcome to the live blog from the UM system Board of Curators meeting!
This blog includes up the minute coverage of the Feb. 5-6 curators meeting.
The UM system Board of Curators convened for what will be a two day long meeting this morning at 10:30 a.m. The meeting opened with a discussion of university investments.
Vice President for Finance and Administration Nikki Krawitz spoke about UM's relatively good investment situation despite the recent economic recession.
"We've had a very laddered portfolio," Krawitz said
She went on to say that UM was "very fortunate because [the university] has adequate liquidity."
The board projects that the 2009 investment income will rest at around $39,030,000.
At current, the board is looking to enrich their investments with the hiring of an investment consultant firm. Interviewed at today's meeting was St. Louis based investment firm Summit Strategies Group and Rocaton Investment Advisors.
The board will soon making a decision regarding the hiring of one of these firms.
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