The NC State Investment Fund, Inc. (Fund) is a North Carolina not-for-profit organization exempt from income tax under Section 501(c)(3) of the Internal Revenue Code and was established to support North Carolina State University (the “University”) by operating an investment fund for the Endowment Fund of the University and other University-affiliated foundations. There are no involuntary participants in the Fund pool.
The Fund, reporting under the guidelines of Governmental Accounting Standards Board (GASB), began operations in April 1999 and is classified as a 2a7-like governmental external investment pool that is not registered with the Securities and Exchange Commission (“SEC”) as an investment company, but has a policy that it will, and does, operate in a manner consistent with the SEC’s Rule 2a7 of the Investment Company Act of 1940.
The Fund’s oversight is provided by the Fund’s Members Board and its Board of Directors. The Members Board is responsible for adopting investment objectives and policies and for monitoring policy implementation. The Board of Directors’ primary role is to oversee the allocation of the Fund’s portfolio among asset classes, and investment vehicles, and to monitor investment performance.