The Investment Subcommittee is responsible for the oversight, hiring, and termination of managers and advisors engaged for the investment of the University’s Long-Term Investment Pool and reports on these actions at Budget, Finance, and Investment Committee (BFI) meetings. The Subcommittee is also assigned responsibilities related to the Wilbur Fund and for co-invested assets with the The University of Vermont Foundation per their respective investment management agreements. Between meetings of BFI, the Subcommittee makes decisions relating to investment managers and investments that are necessary in the best interests of the University. Additionally, the Subcommittee is responsible for adjusting individual investment allocations to conform to the University’s asset allocation policy and annually reviews the policy and make recommendations for BFI's consideration. The Subcommittee also oversees the work of the University Treasurer with respect to the execution of investment decisions and cash management policies in regards to the Limited-Term Investment Pool.