Moving ahead, Mr. McCurdy discussed the 2023 year-to-date performance through September 30, 2023, and year-to-date 2023 benchmarks through September 30, 2023.

Regent Hatchett asked how Cerity Partners chose their benchmark, and how long this particular benchmark has been adopted.

Chair Moyer queried how close the University’s account has been to meeting the benchmark since its inception and further inquired as to the beta of the University’s exchange traded funds (as well as alpha and Sharpe ratios).

Next, Mr. McCurdy shared the monthly investment policy report, including KSU's Strategic 4 Portfolio, Strategic 4 Returns, and Q4 2023 Cerity Partners AUM Fee. He then summarized the withdrawals from, and deposits to, the account since its inception.

Chair Moyer inquired into spend rate, and asked how it was computed.

At the conclusion of the presentation, Chair Moyer thanked Mr. McCurdy.

This agenda item was presented by Mr. DeCourcy, who discussed the Advancement Office’s status in terms of current performance, anticipated needs and challenges faced. Mr. DeCourcy further noted that a permanent investment policy is needed by the end of the year.

Chair Moyer asked Mr. DeCourcy to share his aspirations for the Advancement Office and inquired as to the resources needed to achieve those objectives. Mr. DeCourcy shared his vision and goals for the future of the Advancement Office and University within the next 18 months.

Chair Moyer thanked Mr. DeCourcy for his remarks.

In closing, Regent Hatchett complimented Chair Moyer on the direction of the Committee's first meeting. Chair Moyer emphasized the importance of the Investment & Advancement Committee's work and its ability to positively impact the University.

Move the Committee to adjourn.

Seconded by Regent Ramsey and passed without dissent.

The meeting was adjourned at 11:32 a.m.