[November 12, 2003]

Press coverage of the Securities and Exchange Commission's scrutiny of the mutual fund industry has prompted questions regarding the safety and reliability of retirement related investments.

No Mutual Funds Within UC-Managed Investments
The University of California investment portfolios managed by the Office of the Treasurer do not hold mutual funds. This includes the UC-managed portfolios in the University of California Retirement Plan, as well as the Defined Contribution and 403(b) Plans. A brief statement from the Treasurer can be found at:

http://www.ucop.edu/treasurer/updates/welcome.html

Fidelity and Calvert
Our office has been in contact with our mutual fund vendors, Fidelity Investments and the Calvert Group, and we are following events in the mutual fund industry closely. Both Fidelity and Calvert have posted messages on their websites that address their policy on the practices at issue.

Fidelity: http://www.mysavingsatwork.com/mysavingsatwork.htm
Look for "Message About Mutual Funds from Fidelity's Chairman"

Calvert: http://www.calvert.com/index.html
Look for "Calvert's Trading Policies"

We will continue to keep you updated if developments occur related to the investment options offered by UC.

• The information presented in these news archive articles may no longer be current. Please note the date when the article was first published.