Urban Outfitters 2014 Annual Report Download - page 182

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Investment/Portfolio Restrictions
• Investments will be made in U.S. dollars only.
• No more than $400 million may be held for investment with any one professional investment manager.
• With the exception of US Treasury and GSE securities and money market funds, at time of purchase, no one issuer will represent more than 2%
of the total professional investment manager’s account.
• With the exception of US Treasury and US Agency GSEs, Commercial Paper, Certificates of Deposit, Time Deposits and Money Market Mutual
Funds, no one security will represent more than 10% of the total issue size outstanding at the time of purchase.
• Net realized loss limit of 0.01% of portfolio fair market value per quarter. Once the limit is reached all proposed trades in excess of this limit must
be approved by Client prior to execution. Portfolio fair market value will be the fair market value of the portfolio as of the prior quarter ending
date.
• Asset-backed securities and mortgage backed securities are prohibited.
• Derivatives are prohibited.
• The investment manager does not have authority to borrow on behalf of UO Fenwick, Inc.
Reporting
Reports shall be FASB compliant and available no later than business day two (2) of the month subsequent to the reporting period. Reports must contain
detail of all assets held during the period and their respective activity during that time period.