Adding To or Withdrawing From an Investment Pool

The University's daily cash balances are invested by the Office of Investment and Banking through the Temporary Investment Pool (TIP). The typical cash activity of receiving revenue or paying expenses by a department impacts their participation in the TIP Pool.

Group Income Pool (GIP)

Additions

Requests for additions to the GIP account must be made, in writing to Accounting Services, by an individual with signature authority. Participation starts at the beginning of the month following the request. Purchases are made based on the prior month's market value per share. The shares are weighted for the current quarter distribution.

Withdrawals

Requests for withdrawals from the GIP account must be made, in writing to Accounting Services, by an individual with signature authority. All withdrawals are processed by Accounting Services. Withdrawals are subject to gain or loss based on the pool's NAV when originally purchased versus when withdrawn. The sale price is the previous month's market value per unit. Withdrawn funds are credited to the target account during the month the request is received.

Departments seeking to contribute or withdraw funds from a GIP account need to complete form UM 1638: Contributing to or Withdrawing from the Group Income Pool.

Consolidated Endowment Fund (CEF)

Additions

Requests for additions to the endowment account must be made, in writing to Accounting Services, by an individual with signature authority. Participation starts at the beginning of the month following the request. Purchases are made based on the prior month's market value per share. The shares are weighted for the current quarter distribution.

Withdrawals

Only quasi-endowments may be withdrawn. Requests for withdrawals from the CEF account must be made, in writing to Accounting Services, by an individual with signature authority. All withdrawals are processed by Accounting Services. Withdrawals are subject to gain or loss based on the pool's market value per share when originally purchased versus when withdrawn. The sale price is the previous month's market value per unit. Withdrawn funds are credited to the target account during the month the request is received.

Permanent University Fund (PUF)

See Administrative Procedure: Managing and Reporting Endowment Activity.

Separately Invested Funds (SIF)

Additions

Additions are only made if the terms of the gift, administrative decision or practical expediency preclude liquidation or participation in one of the other investment pools.

Withdrawals

SIF funds will be liquidated whenever feasible and transferred to one of the other investment pools.