Daily Archives: 26 March 2014

Investments committee renames account

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The Investments Committee of Temple’s Board of Trustees will rename and re-purpose its Retirement of Indebtedness Fund, it announced at a public session meeting today in Sullivan Hall.

The new fund, now called the Operating and Auxiliary Reserves Fund, will still provide investment support to the auxiliary and operating budgets for debt-financed projects as the predecessor did.

The trustees present, among them committee chair Christopher McNichol in person and Nelson Diaz by phone, agreed that the name change would better reflect the fund’s purpose and eliminate the misconception that the fund’s function is to repay university debt.

The committee also moved to revise parts of the Investment Policies to include guidelines for the new fund. The fund will be allowed up to a 50 percent allocation in U.S. corporate bonds deemed “high-quality.”

This allocation would add about 55 basis points to the investment. One basis point is equivalent to a value rise of one hundredth of one percent.

“It would only slightly change the risk profile,” Ken Kaiser, Temple’s chief financial officer and treasurer said in his explanation to the trustees.

This change is part of an ongoing effort to structure the other investment pools and funds similarly to the pension and post-retirement funds, which have fixed income allocations.

The management of the pension and post-retirement funds was shifted in February from RS Investments to Van Eck Associates Corporation, a larger firm based in New York City.

The meeting met first in executive session at 10 a.m. before moving to public session from 10:25 a.m.-10:35 a.m. It moved back to executive session at that time.

The next Investments committee meeting is scheduled for Wednesday, April 23, at 10 a.m.

Joe Brandt can be reached at joseph.brandt@temple.edu or on Twitter @JBrandt_TU. 

Teens charged as adults for assaults

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Three of five teenagers arrested yesterday have been charged as adults in connection to three assaults that occurred near Main Campus last Friday, the district attorney’s office announced Wednesday.

Najee Bilaal, 16,  Zaria Estes, 15, and Kanesha Gainey, 15, have been charged with aggravated assault, conspiracy, possession of an instrument of a crime, terroristic threats, simple assault and recklessly endangering another person.

Gainey’s bail was set for $75,000 while both Bilaal and Estes had bail set at $100,000 each.

The DA’s office didn’t say who is believed to have used a brick to attack a 19-year-old student who broke her jaw and required emergency oral surgery.

According to court records, Bilaal has been arrested six times since December 2011, including on charges of retail theft and criminal trespassing. Three of the arrests were made by SEPTA police for theft of services.

Neither Estes nor Gainey have prior arrests listed in the Unified Judicial System of Pennsylvania.

Bilaal’s zip code is listed in West Philadelphia near University City, according to court records. Gainey had a listed zip code from West Philadelphia and Estes had a Northwest Philadelphia zip code. Police yesterday said the teens left Temple after the attacks on a SEPTA bus heading south on 17th Street.

The next court date for the teens is set for April 10.

John Moritz can be reached at john.moritz@temple.edu or on Twitter @JCMoritzTU.