University of Michigan Changes Conflict Rules for Investments
- Midwest university will discontinue separate CIO fund
- CIO fund will now use the money for need-based scholarships
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The University of Michigan changed how its endowment’s advisory committee handles potential conflicts of interest and discontinued a fund that helped pay the salaries of the chief investment officer and his staff.
The changes were announced Thursday at a board of regents meeting following a review of the policies and practices at the investment office, university public affairs spokesman Rick Fitzgerald said in a statement posted on its website.