Section 119: USP Fund Managers.

(1) The USP Board shall, in consultation with the Commission, appoint an independent and competent investment management firm as USP Fund Managers with responsibilities; amongst others, for:
(a) maintaining USP Funds financial accounts and records ;
(b) collaborating with USP-Secretariat in the collection of USP assessments and loan repayments ;
(c) estimating the amount needed annually to sustain the rate of network expansion determined by the Commission as appropriate to meet USP poiicy objectives;
(d) determining the amount of annual revenue required to ensure that the USP Fund remains fiscally sound, and calculation of corresponding rate of assessment ;
(e) disbursing funds to eligible entities based upon approvals by the USP Board;
(f) prudently investing USP Funds cash reserves under directions from the USP Board and establishing cash management procedures to ensure maximum return on investments while meeting short-term cash requirements for disbursements ;
(g) regularly reporting on financial performance of the USP Fund to the USP Board; and
(h) assisting USP Secretariat in evaluating the effectiveness of the USP in meeting policy goals as set by Government and USP Board.
(2) The USP Board shall, in collaboration with the Commission, determine the terms of engagement and the remuneration package for the USP Fund Managers.