The NC State Investment Fund, Inc. (The “Fund”) began operations in April 1999. The original pool, the long-term investment pool (the “LTIP”), was established as an external pooled investment vehicle for the Endowment Fund and other University-associated affiliated entities’ (Foundations and the Alumni Association) endowed funds. The primary objectives for the LTIP are to earn a total return (net of investment fees), within prudent levels of risk, sufficient to maintain purchasing power and to meet spending needs of the participants.
In July 2014, the Fund established a second pool, the NC State Intermediate Term Fund (the “ITF”), as a vehicle to invest the excess operating cash of these entities. Generally, the ITF will not include funds needed within the next year, endowed funds, or those funds that are specifically excluded by law or contractual agreement. The primary objectives for the ITF are preservation and safety of principal; liquidity; and maximization of returns within acceptable levels of risk. Monthly earnings from the ITF are distributed to the participants.
FAI’s responsibilities include: providing oversight of investment managers, working with the investment consultants on identifying new managers, due diligence efforts, ensuring accurate and timely reporting to the Board and committees, preparing and analyzing investment recommendations and handling special projects as requested.