Sec. 30-4. - Standard for investment of pension funds.

Investments by investment companies pursuant to section 30-3 shall be made with judgment and care, under circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs, considering the probable safety of their capital as well as the probable income to be derived. Investments of pension funds by the designated investment company shall be made in accordance with written policies as adopted by the city finance director for funds invested pursuant to section 30-3(a) and as adopted by the municipal retirement board for funds invested pursuant to section 30-3(b). Such investment policies shall address liquidity, diversification, safety of principal, yield, maturity and quality and capability of investment management.

(Code 1971, § 2-103)