Stephen F. Austin State University

Outside Investment (Fund) Managers

Investment transactions (bids and offers) will occur only between Stephen F. Austin State University and board authorized broker/dealers/ or institutions authorized by Section 51.0031 or the Texas Education Code (TEC). The university employs Merrill Lynch as its outside investment consultant. Merrill Lynch is given the authority and discretion by the University to select fund managers to invest University funds. Those managers are also given discretion to make investment decisions on behalf of the University.

Merrill Lynch was selected by the Stephen F. Austin State University Board of Regents through a competitive bid process to manage the investment assets of the University. Merrill Lynch manages and oversees the endowment funds of Stephen F. Austin State University. Merril Lynch began investment of assets in January 2002.

Merrill Lynch has been instructed to and abides by applicable state and federal regulations and respective University Investment Policies. Merrill Lynch and the respective fund managers it hires to manage Stephen F. Austin State University funds are not paid through soft dollar arrangements. The managers are paid directly, based on the assets they manage.

The university has contracted with Texas A&M University System in accordance with TEC 51.0031 for the investment of operating and quasi-endowment funds into the A&M Cash Concentration Pool. Investments in the pool are made in accordance with A&M System Policy 22.02 System Investments.

The respective funds, managers, and firm information are listed below:

Operating Fund

The Texas A&M University System
301 Tarrow, 5th Floor
College Station, TX 77840-7896

Endowment Fund

Merrill Lynch
6751 Old Jacksonville Hwy
Tyler, TX 75703

Quasi Endowment Fund

The Texas A&M University System
301 Tarrow, 5th Floor
College Station, TX 77840-7896