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3 . Establish accounting systems and procedures for the safekeeping, disposal <br /> of and recording of all investment assets held or controlled by the Master Trust Fund <br /> including the establishment of appropriate internal controls as required. <br /> 4 . Assist in the design, development, operation, review and evaluation of the <br /> Master Trust Fund ' s investment program for compliance with this policy . <br /> 5 . Advise the Master Trustees as to recommendations relative to <br /> amendments to this policy. <br /> 6 Inform the Master Trustees of unaddressed concerns with the Master Trust <br /> Fund' s investment program . <br /> 7 . Immediately notify the Master Trustees of any event or of any information <br /> that may have a severe and adverse effect on the Master Trust Fund' s investment <br /> program under the provisions of this policy . <br /> Be Investment Managers . Under the direction of the Master Trustees and subject to <br /> an applicable written investment management agreement, the duties and responsibilities of the <br /> investment managers for the Master Trust Fund shall include , but not be limited to , the <br /> following . <br /> 1 . Will have full discretion in the management of assets allocated to the <br /> investment managers, subject to the overall investment policy and guidelines set by the <br /> Master Trustees . <br /> 2 . Serve as fiduciaries responsible for specific securities decisions . <br /> 3 . Will abide by duties, responsibilities and guidelines detailed in any <br /> specific investment manager agreement . <br /> C . Custodian Under the direction of the Master Trustees and subject to an <br /> applicable written custodial agreement, the duties and responsibilities of the Custodian shall <br /> include , but not be limited to , the following : <br /> 1 . Accepts possession of securities for safekeeping; collects and disburses <br /> income ; collects principal of sold, matured or called items ; provides periodic accounting <br /> statements ; and processes and maintains securities lending program . <br /> 2 . Meets as required with the Master Trustees and provides reports relative to <br /> the status of the Master Trust Fund. <br /> 3 . In a timely fashion, forwards and transmits to the appropriate investment <br /> managers all proxies related to equity securities held in an account. <br /> 4 . Will abide by duties, responsibilities and guidelines detailed in any <br /> specific custodial agreement. <br /> Page 2 of 19 <br /> Revised June 1 , 2007 <br />