AI-assisted research summary: State trust funds must be invested in legally allowable investments, and trust fund administrators must notify the state treasurer about the investment objective of funds under their control at least every two years or when a new administrator appears or asks for notice.
All trust funds in the custody of the state treasurer shall be invested and reinvested in legal investments allowable under RSA 6:8. All trust fund administrators shall notify the state treasurer, at least biennially, upon notice of a new administrator, or at the request of the administrator, of the investment objective of any funds under their control with reference to the following objectives: I. Maximum Capital Gain. The objective is to maximize capital appreciation through investment in financial instruments that possess greater than ordinary risk. A guaranteed stream of income is not sought nor is preservation of principal. II. Growth. The objective is primarily to seek long-term appreciation of capital. The investment vehicle is mainly common stocks with growth potential. There is a slight risk that principal may be eroded in the short run. III. Growth Income. The objective is primarily to obtain long-term appreciation of capital while at the same time providing for some current income. There is a slight risk that principal will be eroded over the short run, but current income is available. IV. Balanced. The objective is to minimize investment risk as much as is possible without sacrificing possibilities for both long-term growth in principal and current income. Investments include debt and equity instruments. V. Income. The objective is to maximize current income rather than seek growth of principal through capital appreciation. Preservation of principal is ensured by investment in high quality equity and debt instruments. VI. Money Market/Short-Term Liquidity. The objective is to maximize current income, guarantee preservation of capital, and keep assets highly liquid. Source: Source. 1943, 210:5. 1951, 227:3. RSA 11:5. 1987, 153:1. 1997, 208:5, eff. Aug. 17, 1997.