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.