UNIFORM PRUDENT MANAGEMENT OF
INSTITUTIONAL FUNDS ACT

PURPOSE:
This act, like its predecessor the Uniform Management of Institutional Funds Act of 1972, provides statutory guidelines for management, investment, and expenditures of endowment funds held by charitable institutions. The new act expressly provides for diversification of assets, pooling of assets, and total return investment, to implement whole portfolio management, bringing the law governing charitable institutions in line with modern investment and expenditure practice.

ORIGIN:
Completed by the Uniform Law Commissioners in 2006.

For any further information regarding this Act, please contact
Michelle Clayton or Katie Robinson at 312-450-6600.