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This policy applies to all Rowan University employees attending to the investment and management of the managed Assets of Rowan University.


  1. Broker - an individual or organization that sells investments.
  2. Budget & Finance Committee - the standing Committee of the University Board of Trustees (the "BOT").
  3. Fiduciaries - individuals who undertake an obligation to exercise prudence, responsibility and authority in making decisions in connection with managing the assets of the Foundation (or as further defined by applicable law).
  4. Foundation - the Rowan University Foundation.
  5. Investment Committee - the Committee of the Foundation Board of Directors that oversees the management of the investments of the Foundation.
  6. Investment Policy Statement - this policy.
  7. Managed Assets - assets, funds, or investments managed by the Foundation's Investment Committee.
  8. Money Manager / Investment Manager - the individual or organization employed to manage the investments of all or part of the Managed Assets. A Money Manager / Investment Manager can provide services in a variety of ways including separately managed funds, ETFs, etc.Broker - an individual or organization that sells investments.


Uniform Prudent Management of Institutional Funds Act (UPMIFA) as adopted in New Jersey on March 9, 2009.