MS SB2881

Amends Section 37-155-9 of Mississippi Code to revise the comprehensive investment plan and investment policies for the Mississippi Prepaid Affordable College Tuition Trust Fund.

Expands authorized investments to include taxable municipal bonds, mortgage-backed securities, convertible bonds, stocks of non-United States companies, foreign government securities, and new investment types through registered investment advisors or limited partnerships.

Establishes investment caps including 70% maximum for stocks, 30% maximum for foreign investments, and 10% maximum for real estate funds and other alternative investments.

Allows the board to use derivative instruments including foreign currency contracts, futures, options, and swaps to hedge transactions involving non-United States company stocks and foreign investments.

Takes effect July 1, 2020.