University of Texas nonprofit implements full-disclosure policy.

• Position: News Briefs

The University of Texas Investment Management Co., a nonprofit government corporation that manages investments for the University of Texas and Texas A&M, recently implemented a full-disclosure policy. Some of the 145 money managers who handle the fund's high-risk portfolio of private equity partnerships are expected to withdraw their services as a result of the policy that requires them to disclose performance results. Such action would likely lower the earnings for the University Fund's $1.7 billion portfolio. If money managers refuse full disclosure, the agency will ask the attorney general if such disclosure...