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(November 1, 2001, Gazette)

The following items were passed by Memorial’s Board of Regents at its regular meeting Oct. 18, 2001.

The Board approved the establishment of the position of associate director of graduate programs and research in the School of Music.

The Board approved the establishment of a work term rate of $1,378 per month for students enrolled in the advanced diploma in coastal zone management at the Fisheries and Marine Institute, effective April 1, 2001.

The Board approved the ratification of the tentative collective agreement between Memorial University and NAPE Local 7850, on behalf of the Marine Institute support staff.

The Board of Regents approved a five per cent salary increase for non-bargaining, non-academic management, professional and executive employees, with effect from April 1, 2001.

The Board of Regents approved the following recommendations from the university pensions committee: 1) That the Memorial University Pension Plan’s long-term exposure to the various asset classes be 57 per cent equities (comprised of 27 per cent Canadian, 20 per cent U.S., and 10 per cent international) and 43 per cent fixed income (40 per cent bonds and three per cent cash); 2) That the current investment structure of two traditional balanced fund managers be changed to the following: two balanced managers whose mandate is Canadian equities, cash, and one-half of the bond exposure, plus responsibility for short-term shifts in asset mix among these asset classes only; three specialty managers – one for each of the U.S. equities, international equities and indexed bond asset classes; 3) That an ongoing internal performance monitoring structure consistent with the revised investment policy be implemented.

The Board of Regents was informed of the exceptional manner in which faculty, staff and students responded to the displaced passengers resulting from the Sept. 11 tragedy and the following resolution was passed: That the Regents offer their heartfelt thanks and their warmest commendation to the hundreds of members of the Memorial University community — students, staff and faculty — who helped to care for the 500 passengers billeted at the university on Sept. 11. These men and women exemplified the very finest tradition of Newfoundland hospitality. The university is proud of them.

The Board of Regents will hold its next regular meeting Dec. 6.