(A) Compliance by the trustee or other fiduciary with Sections 59-153-30, 59-153-40, and 59-153-50 must be determined in light of the facts and circumstances existing at the time of the trustee's or fiduciary's decision or action and not by hindsight.
(B) The trustee's investment and management decisions must be evaluated not in isolation but in the context of the trust portfolio as a whole and as a part of an overall investment strategy having risk and return objectives reasonably suited to the endowment system.
HISTORY: 1999 Act No. 122, Section 2.
Structure South Carolina Code of Laws
Section 59-153-10. Definitions.
Section 59-153-20. Funds and assets held in trust; trustee; investments.
Section 59-153-30. Delegation of functions by trustee.
Section 59-153-40. Standards for discharge of duties by trustee or other fiduciary.
Section 59-153-50. Investing and managing assets; objectives and policies.
Section 59-153-60. Compliance by trustee or fiduciary.
Section 59-153-70. Breach of duty; liability; insurance.
Section 59-153-80. Meetings in executive session, records exempt from disclosure where necessary.
Section 59-153-90. Investment reports.
Section 59-153-310. State Retirement Systems Investment Panel.
Section 59-153-320. Proposal for annual investment plan.
Section 59-153-330. Statement of policy and objectives.
Section 59-153-340. Duties of trustee; State Treasurer as agent; adoption of annual investment plan.