September 18, 1998
KALAMAZOO -- Changes in Western Michigan University's investment policy for annuity and life income funds were approved Sept. 18 by the WMU Board of Trustees.
The changes will allow WMU to deviate from existing policy when necessary for certain charitable remainder unitrust accounts. These accounts enable donors to contribute to WMU while they or named beneficiaries continue to receive income.
"When used, these changes are expected to enhance the yield of such investments without undue compromise to total return," said Robert M. Beam, vice president for business and finance.
"We believe these changes will provide WMU, as trustee, with some flexibility in modifying asset allocation while safeguarding the University's interest when the standard investment structure doesn't meet a donor's or beneficiary's expectations," Beam said.
In other action, the Board of Trustees authorized the University to grant a utility easement to Ameritech on WMU's Lee Baker Farm. The property is located near the intersection of Drake Road and Parkview Avenue.
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