4-5-57 Indirect holdings in actively managed investment funds.
Indirect holdings in actively managed investment funds.
The provisions of §§ 4-5-48
to 4-5-60, inclusive, do not apply to indirect holdings in actively managed investment funds. The
State Investment Council shall submit letters to the managers of investment funds containing
companies with scrutinized active business operations requesting the managers to consider removing
such companies from the fund or to create a similar actively managed fund with indirect holdings
that do not include the companies. If a manager creates a similar fund, the State Investment Council
shall promptly replace all applicable investments with investments in the similar fund consistent with
prudent investing standards.
Source: SL 2010, ch 27, § 10.