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Under the Prudent Investor Act standard, a fiduciary would not be held liable for individual investment losses, so long as the investment, at the time of acquisition, is consistent with the overall portfolio objectives of the account. Diversification is explicitly required as a duty for prudent fiduciary investing.
Additionally, the UTC incorporated provisions from smaller, more specific uniform acts related to trusts while also superseding some outdated ones (including Article VII of the Uniform Probate Code, the Uniform Prudent Investor Act of 1994, the Uniform Trustee and Powers Act of 1964, and the Uniform Trusts Act of 1937). [2]
The Uniform Trust Code presumes that trustees will be held to the same standard as that adopted by the Uniform Law Commissioners in the Prudent Investor Act [UPIA]. A trustee must invest and manage trust assets as a "prudent investor" would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust. [40]
Requires the State Investment Council to invest and manage the land grant fund in accordance with the Uniform Prudent Investor Act. 100% reporting For : 221,183: 52.7 ...
This uniform law is adopted state by state, and therefore the law may be slightly different in each state. For example, on September 20, 2010, New York Gov. David Paterson signed into law the New York version of UPMIFA called the New York Prudent Management of Institutional Funds Act or NYPMIFA. [8]
The term Prudent Investment Rule, and the associated standards, have been established through a series of legal precedents. The first case to set precedent was the United States Supreme Court case of Munn v. Illinois in 1877, which allowed states to have a say in rates. [6]
Investors with decades until retirement can afford to take more risk, and history shows that they’ll be rewarded over time. Some advisors use the rule of 100 to gauge how much to invest in stock ...
And lastly, the stocks just look too over-owned by investors. "We are apprehensive of the elevated beta-adjusted exposure of the Mag 7 vs. the top 500 US equities excluding the Mag-7.