April 1, 1992
TO: SMALL FUNDS MEMBERS NO. 3-92
RE: WHAT IS A SMALL FUND? NEW DEFINITION
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On March 26, 1992, we forwarded to members an invitation to
attend the May 20, 1992 meeting of the Small Fund Committee (to
be held at the time of the Institute's General Membership
Meeting). (See memo to Small Fund Members No. 2-92 dated March
26, 1992). The definition of a small fund was changed recently.
The new definition of a small fund says that small funds should
not have assets exceeding $750 million excluding money market
funds. (The old definition was $250 million). In other words,
if your complex has $1.5 billion in total assets but $1 billion
of that total was in a money market fund with the remainder being
contributed by any other type of fund, then you are eligible to
join the Small Fund Committee and we welcome your attendance at
the Small Fund meeting on May 20, 1992. Please let us know your
plans in that regard by completing and returning the response
form which was attached to the meeting notice. The Small Fund
meetings are excellent forums for discussion of matters
pertaining to your operations.
Donald E. O'Connor
Vice President - Operations