Chicopee Investment Regulations

PERAC Approval Date

Regulation Number

Supplemental Investment Regulation

The Chicopee Retirement System is authorized to invest in the SEI Special Situations Fund, a fund of funds structured to capitalize on perceived market dislocations across a wide range of capital markets. Some of the underlying funds may purchase securities on margin or engage in short-selling. Managers of underlying funds may use futures contracts for hedging purposes or to implement basic portfolio strategies. Managers of underlying funds may buy or sell options for hedging purposes or to implement basic portfolio strategies. Managers of underlying funds reserve the right to purchase restricted stock and to deal in collateral loans. Sections 21.01(7) and 21.01(10) do not apply to underlying fund managers’ ability to directly invest in either mortgages or real estate. 21.01(9) does not apply to the lending activities of underlying fund managers.

Notwithstanding the provisions of any statute of the Commonwealth or regulations of the Public Employee Retirement Administration Commission to the contrary, including but not limited to the provisions of 840 CMR 21.01(2)(3)(4) and (5), the Chicopee Retirement Board is hereby granted an exemption from restrictions on investment contained therein for the purposes of investing in the SEI Global Private Equity Fund II (2007), L.P.

Notwithstanding the provisions of any statute of the Commonwealth or regulations of the Public Employee Retirement Administration Commission to the contrary, including but not limited to the provisions of 840 CMR 21.01(2)(3)(4) and (5), the Chicopee Retirement Board is hereby granted an exemption from restrictions on investment contained therein for the purposes of investing in the SEI Offshore Opportunities Fund, II Ltd.

Notwithstanding the provisions of any statute of the Commonwealth or regulations of the Public Employee Retirement Administration Commission to the contrary, including but not limited to the provisions of 840 CMR 21.01(2)(3)(4) and (5), the Chicopee Retirement Board is hereby granted an exemption from restrictions on investment contained therein for the purposes of investing in the following SEI mutual funds, provided that the underlying investments conform to the terms of the fund prospectuses on file with the United States Securities and Exchange Commission:

SEI Institutional Investments Trust Disciplined Equity Fund
SEI Institutional Investments Trust World Equity Ex-US Fund
SEI Institutional Investments Trust Small/Mid Cap Equity Fund
SEI Institutional Investments Trust Core Fixed Income Fund
SEI Institutional Investments Trust High Yield Bond Fund